IBank staff provide advice to prospective customers at the loan expo.
The Islamic Bank of Thailand (IBank) has set a loan growth target of 8 billion baht this year, up from more than 6 billion baht registered last year, according to the bank's chief.Thaweelap Rittapirom, president of IBank, said that over the past few years the bank has pursued a more aggressive loan expansion strategy and accelerated its growth efforts.
Last year IBank's loan portfolio expanded by 6.25 billion baht, representing growth of 11% year-on-year.
Regarding the bank's non-performing financing, it tallied 16% of outstanding loans. The bank aims to reduce this ratio to 10% or lower this year, he said.
Despite the fragile economic environment last year, IBank recorded an operating profit of 841 million baht, up 16% year-on-year, while net profit totalled 491 million baht, marking a fifth consecutive year of profitability.
