Revitalizing Thailand's Economy Through Property Market Stimulus

In a strategic effort to boost the economy, Thailand's Deputy Prime Minister and Finance Minister, Pichai Chunhavajira, has directed state financial institutions to shift their focus towards economic stimulus, placing it above profit maximization.

Following a policy meeting at GH Bank, Pichai announced a significant initiative: the state-owned housing lender is to inject an additional 150 billion baht into the economy in the latter half of the year. This move is anticipated to create jobs and stimulate growth across related sectors, enhancing the nation's economic well-being.

GH Bank's Commitment to Economic Support

Kamonpop Veerapala, President of GH Bank, has confirmed the bank's target to disburse the 150 billion baht in new loans by the end of 2025. This follows a strong performance in the first half of the year, with over 100 billion baht already disbursed, setting the stage to meet the full-year target of 241.78 billion baht.

New Measures to Energize the Property Sector

In response to the government's directive, GH Bank has introduced four innovative measures:Premier Home Loan for high-net-worth individuals, Repair & Decorate Loans for homeowners, Pre-Finance Premium Loan for developers, and the Debtor Assistance Measure (DC3) to aid borrowers in distress.

Supporting Financial Stability and Homeownership

GH Bank's "You Fight, We Help" program continues to assist customers facing financial difficulties, including those with non-performing loans. Over 80,939 accounts have registered for assistance, with additional measures aiding over 373,000 accounts to regain normal status and retain their homes.

Emphasizing its mission to enable Thais to own homes, GH Bank has reduced its Minimum Retail Rate and extended maximum loan tenures. The "GH Bank Financial School" initiative further supports low-income individuals in achieving homeownership through disciplined savings.

Kamonpop highlights GH Bank's role in not only leading the housing loan market but also in advancing towards becoming a Sustainable Bank, reinforcing the bank's commitment to Thailand's economic and social development.