Bangkok Bank (BBL) is gearing up to increase its home loan capacity in the Bangkok property market, reports The Nation. Specifically, the bank will boost the number of its direct sales staff at the residential projects of leading property developers, backed by the thinking that this approach can service potential homebuyers more efficiently.
BBL already boasts 200 direct sales staff at major residential developments, especially condominiums, in and around Bangkok. It plans to add another 100 such personnel to support its housing loan expansion drive in the capital. So far, the strategy has helped the bank expand its mortgage lending business; in the first half of the year, BBL’s new housing lending grew by 13 to 14 percent, while the industry witnessed flat growth. Also, the bank’s net housing loans increased 6 percent to THB 11 billion during the period, bringing its outstanding mortgages to THB 184 billion.
Executive vice president Pochanee Kongkalai commented that the current positive economic outlook would support housing lending over the remainder of the year. This factor, coupled with more direct sales at residential projects, would increase outstanding lending to approximately THB 200 billion at year-end, which would represent an annual growth of 15 percent.
