For weeks in Social Media community, the rumors that Krungthai Bank Board of Directors had approved 160 billion Baht in loans for the government’s rice-pledging scheme has been stirred up. Mr. Vorapak Tanyawong, the President of the KTB, strongly insisted that KTB had not been contacted by the government regarding the issue. He also affirmed that KTB did not approve any loan as the rumor stated as well as the government has not requested the Bank to finance its rice-pledging scheme.
Mr. Vorapak Tanyawong also stated that last week the Bank had already denied such rumors but during this weekend rumors have surfaced again, prompting a number of its customers to inquire on the matter. He urged all to delicately consider the reliability of information sources and refrain from crafting assumptions without proof evidence. Significantly, KTB can ensure its professional and transparent operations as it operates business under the supervision of the Bank of Thailand, Securities and Exchange Commission, and the office of the Auditor General of Thailand.
“Krung Thai Bank 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 it also necessitates maintaining the competitiveness with other commercial banks. However, KTB employs the same standards in loan approval to all customers regardless of whether they are from public or private sectors. All consideration for loan shall base on risk factors and the borrowers’ repayment capability and the quality of guarantors,” he added.