TMBThanachart Bank, or TTB, is pressing ahead with helping borrowers through risk-based pricing. Chief Executive Officer Thakorn Piyapan said that for the Cash to Go loan, customers with good credit will see interest rates cut from 23-24% to just 13%, and more than 80% of customers will get lower rates. Meanwhile, the vehicle registration pledge loan without transferring the title, which was launched in August, carries an interest rate of only 11.11%, down from 24%, and before the end of this year the bank will also launch a cash card loan priced on a risk-based basis. Thakorn said overall retail lending across the industry this year is likely to turn slightly positive at around 1-2%, after contracting last year. Home loans have passed their worst point, and auto loans are starting to show positive signs, but he acknowledged that bringing household debt back to normal levels is difficult because the core problem is that Thai incomes are insufficient. Those earning less than 30,000 baht a month are already considered a vulnerable group, and buying a home in Bangkok remains difficult even on an income of 50,000 baht.
TMBThanachart Bank Public Company LimitedTTB cuts retail loan rates via risk-based pricing (Cash to Go from 23-24% to 13%, pledge loan to 11.11%), a change to its own product pricing.
