Bangkok Bank positive loans 2010 growth of 3-4%

Intensified lending to small and medium businesses and economic rebound give Bangkok Bank reason to cheer.

Executive Chairman Kosit Panpiemras said that the bank "expects Thai GDP growth of 3 percent for next year and the bank's loans should at least expand at the GDP rate."

With global economic recovery and government stimulus plans underway, many expect most Thai banks to show strong loan growth next year, according to a report in The Malaysian Insider.

Krung Thai Bank, for instance, aims at 7 percent lending growth for 2010, while Siam Commercial Bank expects growth of more than 5 percent.

Bangkok Bank, with outstanding loans of 1.03 trillion baht ($30.98 billion) at end-October, reported a 7.5 percent contraction in lending in the first 10 months as the country's first recession in 11 years squeezed lending in the first half.