GH Bank, the country’s leading mortgage lender’s net profit for the third quarter of 2009 jumped 97.13 per cent to Bt3.303 billion.
        Khan Prachuabmoh, GH Bank’s President said that improving interest margins were a major reason for the huge improvement over the previous year.
“In the first nine months of 2009, the Bank issued housing loans of Bt71,955 million to 107,767 different borrowers. Our previous target for the whole year was Bt73,500,” Khan said.
        The Bank also announced that it had completed its IAS 39 reserve for bad requirements and that non-performing loans (NPLs) had decreased. “We have set aside bad-debt reserves of Bt5,068 million,” Khan said.
        Total assets were Bt686,514 million, a 6.13 percent increase. NPL’s decreased 7 per cent to Bt62,769 million. The Bank’s NPL to loan ratio reduced 11.48 per cent to 10.20 percent.
        During the first three quarters, the Bank sold NPAs of Bt1,538 million. The next nationwide NPA auction will be on December 19, 2009.

        As of September 30, 2009 the Bank’s outstanding loans were Bt637,463 million (increase of 4.67 percent). Total deposits were Bt544,535 million (a 9.17 percent increase).

        Khan said that the Bank is supporting the Government’s stimulus plan to infect more funds into the Thai economy. “We will speed up housing loan extensions and hope to reach Bt100 billion in new loans by year end,” he said.
        To facilitate better services, the Bank is expanding  branches and banking service counters nationwide. “We are also pro-actively marketing our new fast housing-loan services,” he said.

        The Bank Khan said was pleased with is performance during the first nine months of 2009 despite the fallout from the global economic crisis. “We are a Specialized Financial Institution with a mission to help as many Thai people as possible achieve their dream homes,” he said.