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  1. #1
    Thailand Expat
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    AC visits Money Expo in Korat

    so, our roving reporter AC went off to visit Money Expo in Korat last weekend and sends in this report from the field:

    Money Expo Korat rakes in Bt10.51 bn

    Financial transactions conducted at Money Expo Korat 2007 came in at more than Bt10 billion, with housing loans representing over Bt6 billion.




    More than 160,000 visitors attended the event, which was held last weekend.


    Santi Viriyarangsarit, chairman of the second Money Expo Korat, yesterday said the fair had been successful with transactions of Bt10.51 billion, higher than the target of Bt9 billion.


    From a total of 160,000 visitors, 28,272 customers applied for products from financial institutions.


    Santi said that housing loans were the most popular financial products at the fair, with transactions totalling Bt6.62 billion - 62.99 per cent of the total - followed by loans of Bt2.36 billion for small and medium-sized enterprises, representing 22.46 per cent.


    Personal loans ranked third, with transactions of Bt514.21 million. Santi said housing loans had been more popular this year as demand for residences in the Northeast is still high, while financial institutions offered special low housing-loan rates for customers at the expo.


    Bt274.47 million of non-performing assets were sold at the event, for 2.61 per cent of the overall transaction value.


    Credit cards were ranked next with transactions of Bt236.02 million, as financial institutions offered special promotions with waivers of credit-card fees and special prizes.


    Mutual fund investments and life insurance purchases accounted for Bt160.25 million and Bt104.35 million, respectively. Saving certificates sold for Bt97.96 million at the expo.

    Santi said most financial institutions that participated had been satisfied by the transactions achieved, which exceeded the original target despite the economic slow-down.
    the only question that remains AC: are you sure that's Bt. 10.51 billion? I mean, it's Korat we're talking about, after all!

  2. #2
    lom
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    Quote Originally Posted by William
    28,272 customers applied for products from financial institutions
    I take it means they borrowed money ?
    The average loan is 370.000 Baht, looks reasonable.
    Last edited by lom; 14-02-2007 at 10:07 AM.

  3. #3
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    We opened a bank account for Ms. AC's daughter and got a free plush bear. But that was only 500 baht. We've named the bear "Non Performing Asset".

  4. #4
    Thailand Expat
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    ^reminds me of a joke we have in the [Thai] legal world.

    Q: "What's an NPL?"

    A: "A Non Performing Lawyer!" (i.e., one who doesn't pay his way)


  5. #5
    ding ding ding
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    Quote Originally Posted by William
    Money Expo Korat rakes in Bt10.51 bn
    Sounds to me like they raked in zero baht and lent fokin billions to anybody that showed up. Probably never to be seen again.
    Was it HSBC doing the lending?

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