The Phuket News Premier League predictions The Phuket News Kata Rocks The Phuket News
The Phuket News Business News
The Phuket News Phuket | Thailand | World | Business | Q&A | Weird World XML, RSS, Feed
The Phuket News The Phuket News
The Phuket News

State banks urged to support more SMEs

BANGKOK: Deputy Prime Minister Somkid Jatusripitak is urging state-owned banks to play a more aggressive role in supporting small and medium-sized enterprises (SMEs).


Bangkok Post

Tuesday 7 November 2017, 11:16AM

Somkid: State banks can do more
Somkid: State banks can do more

“We can’t ask commercial banks to help SMEs as they carry risks and don’t contribute much to banks’ profits, but state-owned banks have been set up for this purpose and should be able to do more,” he said.

State-owned banks should improve their operations and work harder to support SMEs, including startups, which are an important engine for the economy, said Mr Somkid.

These state-run banks include the Small and Medium Enterprise Development Bank of Thailand (SME Bank), the Government Savings Bank (GSB) and the Export-Import Bank of Thailand (Exim Thailand).

“I’ve already discussed a major restructuring of SME Bank with the finance minister to better serve SMEs,” he said.

SME Bank needs more human resources, technology and a new management approach to access more small businesses, said Mr Somkid.

He said GSB already helps SMEs but the number remains low when compared with the bank’s overall business.

In other countries, banks that best serve SME operators are local small and mid-sized banks as they cannot compete with larger operators in extending loans to corporate clients.

“These local banks offer savings and loans to SME customers as their branch networks are expansive and they have enough staff to provide loans,” said Mr Somkid.

Both GSB and SME Bank should work together to better support SMEs nationwide, he said.

SMEs have suffered from the sluggish economy and have gained little from the country’s economic recovery and robust export growth. The government is pushing efforts to help them to bring about a broader-based economic recovery.

He said Exim Thailand should pay attention to helping SME customers expand their business into other markets instead of extending loans to exporters.

“Bank profitability should not be in their KPIs [key performance indicators]. They should instead focus on helping SMEs develop,” he said.

Mr Somkid said he has discussed creating incentives for commercial banks to assist SMEs with Bank of Thailand Governor Veerathai Santiprabhob.

The Bank of Thailand and the Thai Bankers’ Association (TBA) should create a comprehensive programme to promote better management of SMEs and new entrepreneurs.

Mr Veerathai said the central bank has been working closely with commercial banks to help SMEs.

The Bank of Thailand, in collaboration with the TBA, the government and state-owned financial institutions, recently launched foreign exchange options with lower fees for SMEs.


Read original story here.



The Phuket News
The Phuket News
Comment on this story
* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.
Comments Here:

Comments Left: Characters
E-mail: (No Hotmail, Live, MSN and Outlook accepted at this time)
   => Forget password?

Be the first to comment.

The Phuket News
The Phuket News The Phuket News The Phuket News
The Phuket News
Share this
The Phuket News
Have a news tip-off? Click here
The Phuket News
Related stories
The Phuket News
Phuket community

Recent Comments

New strategy called to counter Phuket drug epidemic

What we daily read is Government's absence of SMART anti drugs policy We read about arrests of mules and simple street dealers Go after the prod...(Read More)

Phuket grandmother’s head crushed under 10-wheeler juggernaut

Pretty clear case going by of just another idiotic, reckless, Thai truck driver, they are all over Phuket, their stupidity is dumbfounding & typic...(Read More)

Phuket grandmother’s head crushed under 10-wheeler juggernaut

This is so common. When will anyone do something to stop the slaughter. To me just one life lost is too many. Everytime this happens it should be enou...(Read More)

Phuket Poll: How should Phuket’s lifeguards be provided?

It doesn't matter which "government office" "local administration" "regional authority" or any other neat little sub...(Read More)

Phuket Poll: How should Phuket’s lifeguards be provided?

As we are constantly reminded Thailand is for Thai's, it is abundantly clear the authorities could care less about tourists safety or the environm...(Read More)

Phuket residents call for end to black wastewater on Surin Beach

As another publication wrote yesterday, Thailand wants to become a 1st world country but never will as it's people have 3rd world mentality. ...(Read More)

Phuket residents call for end to black wastewater on Surin Beach

The first order of business should have been to STOP THE DISCHARGES, with ALL flow from every business being captured in holding tanks (at the busines...(Read More)

Phuket residents call for end to black wastewater on Surin Beach

Pathetic, with the only plans being to "treat" the wastewater (which is doesn't). Still nothing is being done to stop the flows from hap...(Read More)

Phuket residents call for end to black wastewater on Surin Beach

The Romans had sophisticated water and sanitation in 300 BC. The Thai's can't seem to figure out that if your let every house/hotel/business/f...(Read More)

Phuket Gov announce plans to turn Historical Park into floating market

Obviously, they haven't learnt the lesson of the abysmal failure of the Kathu floating market. I agree with Foot's first sentence....(Read More)

The Phuket News
Weird World
The Phuket News PHUKET LIFE
Phuket Arts
Phuket Community
Phuket Culture
Phuket Dining
Phuket Education
Phuket Entertainment
Phuket Environment
Phuket Health
Phuket People
Phuket Technology
Phuket Travel
World Entertainment
Photo Galleries
The Phuket News PHUKET SPORT
Phuket Buy and Sell
Phuket Jobs
Phuket Property
Phuket Cars and Boats
Phuket Community
Phuket Services
The Phuket News The Phuket News PHUKET EVENTS
Phuket Event listings
Phuket Event calendar
Buy Tickets
Phuket Bars, pubs and clubs
Phuket Hotels and villas
Phuket Restaurants
Phuket Yellow Pages
The Phuket News BARGAINS
The Phuket News ABOUT US
The Company
Distribution points
Advertise with us
Pay for advert
Contact us
Content Google Map
Site map
Australian Visa Services
Currency - The Phuket News   Weather Report - The Phuket News   Surf Report - The Phuket News
LinkedIn - The Phuket News   Twitter - The Phuket News   YouTube - The Phuket News   Facebook - The Phuket News
Copyright © 2018 Class Act Media. All rights reserved. | Website usage terms and conditions | Privacy and Confidentiality Statement.