Krung Thai Bank PCL : KTB: Aid effort for flood-hit victims to be prolonged
September 14, 2011 at 07:00 am EDT
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Krung Thai Bank extends the period of seven measures helping business and retail customers inflicted by floods till this year-end. The Bank provides low-interest rate loan and 6 months of grace period to boost customers’ liquidity. Also, they can use an existing security. Moreover, transfer fee exemption is offered to those giving financial support to the victims via the Bank’s account.
Mr. Apisak Tantivorawong, President, Krung Thai Bank PCL. disclosed that flooding continued in many provinces nationwide. Therefore, the Bank decided to prolong seven measures released in August to relieve affliction till the end of year.
The seven measures comprise KTB Fight the Flood Loan for entrepreneurs, which the bank will charge MLR-1% p.a., and after that, the interest rate will be charged at MLR for five years. KTB Fight the Flood Circulating Fund is the product helping boost clients’ liquidity, and KTB Fight the Flood Project, the project setting up for customers who do not need extra loan. KTB Fight the Flood Housing Loan, lending extra loan to customers for house renovation, and the installment will be 60 months maximum. Clients’ financial history will not be verified. The interest rate will be charged at MRR-1.75% p.a. in the first year, after that it will be charged at MRR-0.50 p.a.
Mr. Apisak Tantivorawong further said that the next measure was KTB Fight the Flood Business Matching between inflicted entrepreneurs, machinery builders, and building contractors. Consequently, the entrepreneurs would be able to restore their business, and repair their machineries and tools in special price.
The Bank also offers After-Flood Restoration of Local Administrative Unit Loan; its grace period lasts for 6 months. The interest rate will be charged at 4% p.a. in the first six months, after that it will be charged at 6 month-fixed deposit rate plus 1.65% p.a.
In addition, customers have been exempted from fee upon transferring money to help flood victims. Currently, many organizations have opened an account with the Bank to aid those in needs, for example, Aid fund for public disaster victims of The Prime Minister’s office account: account number 067-0-06895-0.
Corporate Branding & Communications Department
Publication date : September 14, 2011
Krung Thai Bank Public Company Limited (the Bank) is a Thailand-based company engaged in commercial banking. The Bank engages in the commercial banking business and conducts its business through a nationwide branch network and in certain major centers of the world. The Bankâs retail banking segment develops financial products and services, and provides services for individual customers relating to deposits, loans, payment for goods and services as well as sale of products released by the Bankâs subsidiaries and business alliances through its network of branches nationwide. Its corporate banking segment provides credit facilities and financial services to corporate clients. Its treasury and investment segment controls the Bankâs financial structure to maintain appropriate levels and enable the generation of profit from the Bankâs equity investment, international business, and excess liquidity, and supervises overseas branches and companies in which the Bank has invested, among others.
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