GSB adjusts standards for loans

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State-owned Government Savings Bank (GSB) plans to adjust its loan criteria to collateral-based lending from the current cashflow-based lending to assist people experiencing a liquidity crunch. The adjustment process should take 1-2 years, said GSB president and chief executive Vitai Ratanakorn. As Thailand’s economy has been hugely affected by the continuing Covid-19 outbreak, the cashflow-based lending criteria for loan assessment is not applicable over the next 1-2 years because economic activities have been dampened by the pandemic crisis, said Mr Vitai. Some businesses have had to stop op…

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