KASIKORNTHAI Regulatory Capital and Financial Performance Update
1,000 Units
170
■New Housing Completions
Supply Side: New Housing Completions and New Projects Launched in BMR*
150
■New Projects Launched
130
K
KASIKORNTHAI
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
Property Market: The first eight months of 2023 saw a drop in the launch of new projects because demand declined, and
unsold units remained high.
% of GDP
110
117
90
81
70
66
68
50
-10
322
30
10
131133
124
111
125
14
114
119
-
102 132
108
133
127
-
118
86
115
112
101
73
8160.5
30
Outstanding Mortgage Loans to Individuals and Property Developers to GDP
25
20
16.8
2006
2007
2008
2009
2010
2012
2013
107
92
70.6 63.0
0
15
26.7
05
10.4
10
2015
2016
2018
Demand Side: Transferred Properties in BMR*
2020
2021
2022
4.1
1,000 Units.
250
200
146 161 178
151 159
182 174
196
197 206 197
175 163
166
150
100
50
0
195
8M2022
119 115
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
8M2022
8M2023
8M2023
1993 1996 1999 2002 2005 2008 2011 2014 2017 2020 1H23
---Loans to Property Developers
Housing Loans
■Mortgage loans to GDP are higher than pre-crisis level, due to
factors such as changes in consumer behavior, intense
competition among banks, and a more accessible credit market
■ Outstanding loans granted to property developers to GDP was
4.1% in 1H23, lower than pre-crisis level
■Supply Side: The number of new housing projects launched in
8M23 fell by 10.8% YoY. Beside the high base of comparison,
slowing recovery of consumers' purchasing power as well as
high unsold units caused developers to remain cautious
■Demand Side: Property sales during 8M23 decreased by 3.9%
YoY as a result of a drop in demand. A cautious approach to
home buying may be seen later in 2023, due to the fragile
economy, high levels of family debt, and rising mortgage loan
rates
■Mortgage NPLs among Thai commercial banks was at 3.16% in
2Q23, compared to 3.01 in 2022 and 3.52% in 2021
Sources: National Economic and Social Development Council (NESDC), BOT, Real Estate Information Center (REIC), Agency for Real Estate Affairs (AREA), and KResearch
Note: *Including Condominium, Single House, and Townhouse; BMR = Bangkok and Metropolitan Area
บริการทุกระดับประทับใจ
K
KASIKORNTHAI
Household Borrowing
Household Borrowing to GDP
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
% NPL for Consumption Loans of Thai Commercial Banks
% of Loans
888
Old Definition
% of NGDP
100
New Definition
25
94.2 94.7
91.4
90.7 90.7
84.4 84.0 82.7 84.1
76.1
80
60
59.3
7.1
10.6
9.4 9.7
8.8 7.5
7.6 8.3 13.4 13.3
12.0 12.7 12.3 12.2
10.5 10.5 10.7
12.8 12.7 12.8
220
40
28.9
24.4
8.8
18.9
23.1 23.1 22.3 22.3
25.3 25.3 24.4 24.2 24.2
2505
15
10
22.3
19.6
0
20
11.2 15.1
7.7
29.5 33.5 33.7 33.5 34.3
24.5
38.4 38.7 36.4 35.9 35.8
11.9 13.2 13.9
0
1994 1996 1997 2010 2012 2014 2016 2018 2019 2020 2021 2022 1Q23 2Q23
Commercial Banks SFIs Saving Cooperatives Non-Bank Fls Others Total
Old Definition: Data from 1991 - 1997: lending from commercial banks and SFIs to individual persons for consumption only
New Definition: Data from 2010 onwards: takes into account individual persons' outstanding loans from all types of financial
institutions, including savings Co-ops and non-banks
Cross-Country Comparison
of Household Debt (as of 2022)
Debt Service Ratio of Thai households
% of GDP
%
50
117.8
108.2
40
86.9
81.2
66.4 61.9
30
27.9 28.1 27.2 28.4 29.1 27.0
23.0
56.1
20
Australia
South Korea
Thailand
Malaysia
US
China
Source: CEIC and KResearch
Singapore
10
0
IIII
2009 2011 2013 2015 2017 2019 2021
Source: NSO and KResearch
2.71
2001 2004 2007 2010 2013 2016 2019 2022 2Q23
■ Household debt to GDP stayed at 90.7% in 2Q23, and is
expected to remain high in 2023
■Household borrowing to GDP is higher than pre-crisis
level, due to factors such as changes in consumer
behavior, intense competition among banks, and a more
accessible credit market
■Thailand's household debt to GDP is comparable to
other countries*; debt service ratio of Thai households
is still well below 40%, indicating the household debt
situation is unlikely to trigger any problems in the
foreseeable future
■NPL ratio for consumption loans of commercial banks
rose to 2.71% in 2Q23 from 2.62% in 4Q22
Source: BOT, Bank for International Settlements (BIS), National Statistical Office (NSO), CEIC
and KResearch
บริการทุกระดับประทับใจ
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