BANGKOK – Bank of Ayudhya, Thailand’s fifth largest bank by assets, said on Wednesday it was looking to sell bonds worth 10 billion baht ($287 million) this year to raise funds for expansion.
The bank trimmed its loan-growth target for this year to 6 percent from 7 percent due to concern over the slowing economy, and it expected the ratio of non-performing loans to fall in 2009. At the end of 2008 the ratio stood at 8.9 percent of total lending, an executive told reporters.
