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KTB News

4 Feb 2014

KTB insists ‘rumor is rumor: No Loan for Rice-Pledge Scheme

KTB insists ‘rumor is rumor: No Loan for Rice-Pledge Scheme

    The Bank reiterated today for no loan support to Government rice-pledge scheme as rumor and stated that the Board of Directors meeting was regular as schedule. KTB today has been under a professional administration and it would absolutely not be a political tool. The first priority of the Bank shall focus on the maximum benefit of all related parties, especially its customer base of 12 million retailed customers.
 

Mr. Vorapak Thanyavong, stated at a press briefing before the regular meeting of Board of Directors that the meeting was held as regular schedule without agenda of loan for rice-pledge scheme proposed. The Bank’s president also strongly insisted that KTB has never approved any loan subsidizing to the Government on such project as rumor. Although the Bank kept presenting factual information via press media for the past two weeks, the rumors have surfaced again in Social Network.
 

“Presently, the Bank has already demonstrated that all the rumors were not true and I would like to request cooperation from all to communicate the truthful message and actual understanding to public. Significantly, I can assure for my professional and transparent works at KTB as well as our Executives and Board of Directors.  We have stressed in the good governance, transparency and professionalism in our management and we don’t want to be troubled by politics. The Bank essentially prioritized to generate highest benefit to all its related interest parties, especially our 12 million depositors, more than 100,000 SMEs debtors, almost 40,000 retailed shareholders and including 20,000 KTB employees. Moreover, KTB is a commercial bank listed on the Stock Exchange of Thailand (SET) with more than 45% of its shareholders from retail and institutional investors, therefore; the Bank guaranteed for its appropriate standard in loan approval process. All consideration for loan shall base on the committees’ judgment from lower levels to the upper levels, in addition with the overall risk factors,” he said.   
 

Mr. Vorapak also appealed for supports from related parties in assisting rice farmers who have been under crisis from the troubled rice-pledge project at the present in regardless to the political matters since all farmers were part of our community. Previously most of the financial institutions have already plays important roles in financing and encouraging overall economic system of the country continuously. Lastly, he believed that the Government would find appropriate solutions shortly without push aside burdens to the Banks or financial institutions.  

 

Corporate Branding & Communications Department
Febuary 4, 2014