GSB targets huge increase in low-income borrowers

Government Savings Bank (GSB) aims to let an additional 1 million low-income

- WICHIT CHANTANUSORNSIRI

Thais access formal credit, representing a total loan value of about 100 billion baht, says the bank's new chief.Speaking at a presentation of his vision and policy as the 18th president and chief executive of GSB, Songpol Chevapan-yaroj said the bank wants to increase access to formal credit for individuals through the bank’s network of more than 1,000 branches, accounting for about 20% of the total commercial bank branches in the system, which exceed 5,000.

He said supporting more than 1 million low-income individuals would increase the proportion of new loans to entrepreneurs to more than 40% of total lending compared with last year. As of March 31, the bank has around 24 million deposit and loan customers.