Bangkok, Mr. Thakorn Piyaphan, General Manager Thanachart Military Bank (TTB) revealed that the overall picture of loans over the past 4 months still slowed down in line with the Thai economic situation that has not yet recovered. Especially small loans Home loans and car hire purchase loans Due to the lack of stimulus that will have a significant positive impact on both loan groups. and interest rates are still high This has resulted in a significant delay in purchasing houses and cars. But loans that can still grow are credit cards and personal loans. But banks are still cautious in granting loans. from high household debt burden However, the bank expects that the second half of 2024 will see a recovery in retail loans. During the 3rd quarter of 2024 From the disbursement of the government budget, which will provide supporting factors to stimulate the overall economy in the second half of the year. And it is a supporting factor for the overall picture of the bank's retail loans to recover according to the picture of the economy. As for auto loans in 1Q24, there was a decrease of 20% compared to the same period last year. From the impact of pickup truck sales that have decreased a lot. This causes car loans to decrease as well. The bank will adjust its strategy to target other types of cars, such as electric cars and luxury cars, including working with more dealers and car tents. But in terms of issuing new loans for new cars, used cars, and cash-in car loans, It is expected to be lower than this year's target of 150 billion baht. While reducing the MRR interest rate by 0.25% according to the policy of the Thai Bankers Association for a period of 6 months, TTB will announce an MRR reduction of 0.25% soon, which will result in home loan interest rates not disappearing much, approximately. 50-60 million baht because there are only home loan customers that are eligible for the bank's 0.25% MRR reduction measure. 50,000-60,000 people and those with lower incomes 20,000-30,000 baht/month is not much, causing no sig nificant impact on interest income. And banks can earn money from other fees. can come in to compensate Although not all can be compensated for. But it can also help support the bank's income, such as introducing new products for Wealth customers, including investments in debt instruments. and other services, etc. However, as part of ttb reserve's strategic plan in 2024, it aims to increase card holding customers to 44,000 from the end of last year at 39,000, with a target value of assets under management (AUM) of 725 billion baht or a growth of 40%. from the end of last year at 600 billion baht by expanding the ttb reserve customer base, young wealth groups or those aged 40 years and over with assets of 5 million baht or more. Come and become more customers. Including expanding the customer base among business owners who are ttb's customer base which is medium-large SME businesses. and car dealer groups where the bank has a customer base of more than 3,000-4,000 that ttb will invite to use ttb reserve servi ces. At the same time, we are also preparing to launch new products and features as tools to create financial stability for customers, including Foreign Exchange (FX) Solution and Wellness Solution, an investment portfolio adjustment solution. For customers with high deposits For the opportunity to receive greater returns. In addition, the bank continues to provide superior privileges with many campaigns to increase wealth for credit card holders. ttb reserve Source: Thai News Agency