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Housing loans extended by local financial institutions in the second quarter of this year continued to grow although commercial banks had raised lending rates, according to the Bank of Thailand (BOT).
Reporting housing loan figures released by financial institutions in the second quarter, the central bank said recently that the loans stood at 1.27 trillion baht as of the end of the second quarter, up 58.57 billion baht or 4.8 percent from the first quarter of this year, and 154.97 billion baht or 13.89 percent from the same quarter last year.
The increased loan portion came from all kinds of financial institutions, except finance companies.
Loans extended by commercial banks as of the end of the second quarter totaled 653.57 billion baht, up 41.02 billion baht or 6.69 per cent from the previous quarter.
At the same time, loans extended by state-owned banks, including Government Savings Bank (GSB) and Government Housing Bank (GHB), totaled 117.81 billion baht and 503.86 billion baht, up two billion baht or 1.7 percent and 5.69 billion baht or 3.21 percent from the previous quarter respectively.
Loans extended by finance companies totaled 1.2 billion baht, down 140 million bahh or 10.37 percent, while those by credit foncier companies totaled 84 million baht, up 18 million baht or 27.27 percent.
A source said the housing loans had continued to grow because commercial banks had competed fiercely to lend by offering special promotions or loan rescheduling with fixed interest rates.
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