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Bangkok Condominiums – BBL bullish on 15% house loan rise

By on Aug 22, 2014 in Property News, Residential

Bangkok Bank (BBL), the country’s largest lender by assets, is upbeat about achieving its ambitious mortgage loan growth target of 15% this year after 6% growth in the first half.  The bank delivered 6% housing loan growth to 184 billion baht at the end of June from 173 billion at the end of 2013, while the banking industry recorded flat growth in the sector as the economy faltered. BBL expects its outstanding mortgage loans will reach 200 billion baht by year-end.

The banking industry projects mortgage loan growth of 5-6% this year.  In a related development, BBL has strengthened its in-house sales team for mortgage loans the past few years to facilitate its housing loan expansion. Home buyers in the capital mostly use mortgages to buy condominiums as second homes, in line with their changing lifestyle.  Given  loan demand for condos is rising and most of these projects are located in Bangkok, the bank’s proportion of customers in the capital has risen to 50% from 40% in the past. Condo mortgages comprise 20% of its total housing loans, with single-detached houses still dominating the portfolio at 40%.

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