Bangkok--6 Oct--Siam Commercial Bank
Buoyed by higher-than-targeted growth in mortgage loans, Siam Commercial Bank has pledged to push ahead with its aggressive home loan strategy to tap potential first-time home buyers towards the year-end with a “Get a Home Loan, Win a Mercedes-Benz and Gold” campaign.
SCB Executive Vice President and Head of the Mortgage Business Division Pikun Srimahunt said the transfer of property ownership as a whole shrank by an average of 23% in the first half of this year, while SCB transactions grew by 5%. SCB mortgage loans extended from early this year until October totaled more than 73 billion baht, higher than targeted for the entire year and increasing the Bank's mortgage loan market share to 30%, the highest in the banking system.
To maintain its number-one market share in the mortgage loan business, SCB plans to expand its target group of customers by enhancing a variety of mortgage loans, including loans for new and second-hand houses, refinancing, the multipurpose 'My Home My Cash' program, and cooperating with property developers in offering special interest rates to clients.
“With more than 1,000 bank branches and skilled personnel with a thorough knowledge and understanding of products and client needs, we are confident it will help drive our loan growth further,” Khun Pikun said.
In the final quarter of this year, the Bank believes competition in the mortgage loan extension market will intensify since the government is going to issue tax incentive measures under its first-time home-buyer program. “Once the policy is clear, we believe people will benefit. It is another measure that will help stimulate purchasing power in the property market, an important base of the economic system. The more the property market expands, the greater the chance the mortgage loan business will grow,” said Mrs. Pikun.
To offer first-time home buyers additional benefits beyond those offered by the government, the Bank has launched a “Get a Home Loan, Win a Mercedes-Benz and Gold” campaign providing customers mortgage fee waivers and chances to win a Mercedes-Benz C 200 and gold prizes worth a total of over 9 million baht. New clients seeking housing loans, mortgage refinancing, and 'My Home My Cash' loans are also entitled to the benefits.
Prizes include two Mercedes-Benz C 200 automobiles worth 4,358,000 baht, six 10-baht weight gold bars worth 1,575,000 baht, and 120 1-baht weight gold necklaces worth 3,198,000 baht. Each month a lucky draw will be held for one 10-baht weight gold bar and 20 1-baht weight gold necklaces.
Under the campaign, loan applicants will receive one entry for every one million in loan amounts. The offer is available from now until March 31, 2012.
Corporate Communications Division, Siam Commercial Bank PCL
Tel: 02-544-4501-2, 4517 Email:
[email protected]
Website: www.scb.co.th / Facebook: www.facebook.com/scbthailand / Twitter: www.twitter.com/scb_thailand