TMB Bank Slashes Loan Growth Target For 2014

News: Thai lender TMB Bank slashed its loan growth target for 2014 to between 6% and 8% from the previous forecast of 8%. The bank stated that it was exercising caution as political tensions raise concerns regarding the economy. The bank's loan portfolio for Q114 grew only 0.3% quarter-on-quarter, leading to the revision of the outlook, according to the bank's CEO Boontuck Wungcharoen (Reuters). The lender registered a 12% year-on-year fall in net profit to THB1.6bn (USD49.6mn) in Q114, compared with THB1.8bn (USD55.8mn) in Q113.

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Geography: Thailand

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