Bangkok--May 26--SET
Total transactions at the 5th Money Expo were recorded at approximately THB79 bln. Home loans were the most popular product, with THB65 bln. worth of transactions, representing 82% of the total transactions at the Expo. Home loans were followed by loans for SMEs, with THB10 bln. in transactions. The personal loans ranked third, with THB2.0 in transactions. The fourth most popular was credit card products, which saw THB1.6 bln. in transactions. The number of visitors surpassed the target of 600,000, of whom 100,000 applied for financial services in the Expo.
Mr. Santi Viriyarungsarit, chairman of the organizing committee, announced that Money Expo 2005 has chalked up another successful year. More than 600,000 businessmen, students, and members of the general public attended the event. Money Expo 2005 was held during May 19 — 22, 2005, at the Queen Sirikit National Convention Center (QSNCC).
The 5th Money Expo was aimed at brightening people’s future through the use of the financial products and services offered by the event’s participating organizations. Organizations participating in Money Expo 2005 included commercial banks, state-owned banks, non-bank financial firms, life insurance/assurance firms; finance/leasing, and securities/investment management firms. The total transactions for the 4-day event were recorded at approximately THB79 bln., made by nearly 100,000 attendees.
Among the most popular products and services offered at the Expo, home loans ranked first, with total transactions amounting to THB65 bln., or 82% of the total transactions made. The success was due to the attractive and competitive interest rates offered by the banks, as rates are expected to rise in 2H/2005.
The second most popular product was the loans for SMEs, which recorded THB10 bln., or 13% of the total transactions. The third most popular product was personal loans, which recorded approximately THB2.0 bln., or 2% of the total. The credit card products ranked fourth, with total transactions amounting to THB1.6 bln.
Mr. Santi said that the large number of home loan transactions reflected a high demand for residential properties in the market. Owning a house represents security to many people. Hence, Money Expo 2005 responded well to the people’s needs and brightened their future, as expressed in the Expo’s theme. This is also in line with the government’s policy encouraging people to own their own home.
The loans for SMEs, which ranked second, indicates that, in addition to security, people are also seeking business opportunities to generate income for themselves and their families. The government is currently encouraging more entrepreneurs to enter the business arena. Money Expo 2005 opened up opportunities for people to access funds to start their businesses.
For credit cards, although it is a concern that the Expo would encourage people to create debts, total transactions for credit cards turned out to be far less than people thought. In terms of the total transactions, credit cards ranked fourth with THB1.6 bln., or only around 2% of the total transactions made at the Expo.
Mr. Santi noted that the number of visitors and applicants to financial services increased over the past years as a result of attempts by participating organizations to offer competitive deals. Some of these competitive deals included 0% loan packages, extended loan periods and the launching of many new attractive products, plus gifts/souvenirs.
The non-bank financial firms that participated in the Expo for the first time were also successful. Collectively, they granted a total of THB300 mln. in loans. In addition to their loan services, these companies also offered other attractive products, special deals, gifts/souvenirs. The non-bank firms primarily focused on educating the market about their products and services.
Insurance firms were also well received by visitors. They were immensely successful. The total amount of insurance policies purchased was recorded at THB600 mln. Their customers are mostly from the educated group, who requested detailed information on their policies.
The investment management firms that participated had 750 customers, who bought a total of over THB50 mln. worth of investment units. In addition, about 1,500 persons opening accounts with brokers. These accounts were approximated at THB250 mln.
For more information
please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036
Kulvida Jintakawong Tel: 0-2229-2037
Nattaporn Boonprapa Tel: 0-2229-2049
Watsamon Saowakhonsathien Tel: 0-2229-2797 End.