October loans grew marginally at 0.01% m-m, 1.9% y-y and 0.08% YTD
The overall loan portfolio in October for the eight banks we cover grew marginally at 0.01% m-m and 0.08% YTD. TMB reported the
highest growth of 0.96% m-m, followed by SCB’s 0.63% and KBANK’s 0.37%. The drivers of loan growth were diverse—SCB’s loan
growth was driven by corporate loans whereas KBANK’s loan growth was more broad-based. BBL saw decent pick up in mortgage
and overseas loans in October, while small banks continued to experience contraction in auto HP. The largest drop at KTB was
mainly due to repayments from corporate and SMEs while growth from public loans already turned positive. Overall deposit base
grew 1.84% m-m, mainly from a strong growth in CASA at large banks including BBL, KTB (for seasonal public deposits), and SCB.
LDR was at 94.9% at end-October.