Songpol Cheewapanyaroj, Director of the Government Savings Bank, unveiled the bank's business plan for 2027, saying the bank has set a loan growth target of about 3%, or 1.25 to 1.5 times GDP, which is expected to grow 2%, from its current total loan portfolio of approximately 2.6 trillion baht. The bank will continue to inject liquidity into grassroots groups, fresh-market vendors, self-employed workers, SMEs lacking collateral, and those shut out of the banking system, such as through the "Open Term with Savings" loan program. While other banks are slowing lending, the Government Savings Bank is using a model of borrowing small amounts and borrowing frequently, letting customers repay and then borrow again based on their capacity. This is reflected in the QR Maha Heng program, which has drawn about 4,000 applicants, with approvals as high as 70%, while rejections due to credit bureau conditions or NPLs under Bank of Thailand rules came in at less than 20%. As a result, new lending expanded past 100 billion baht and deposits grew by more than 100 billion baht. Meanwhile, NPLs are lower than expected at 3.5% to 3.7% and are trending down continuously. The MyMo application's user base has grown from 16 million to nearly 18 million, and is expected to surpass 18 million by the end of this year. The Government Savings Bank has no policy to cut branches and is ready to add branches, in contrast to commercial banks that are rushing to close branches to cut costs, because customers in the provinces and those aged 40 and over still need counter service, which serves as a frontline defense against cyber threats and call-center scams. This underscores its stance as a Social Bank ready to stand beside the people both online and in the physical world.
Government Savings Bank targets ~3% loan growth in 2027, expanding lending to grassroots, SMEs, and self-employed borrowers, with new lending already past 100 billion baht.
