Head of Thai Bank Whose Stock Surged Shuns Risky Lending
- Tisco Financial delivered 32% total return in past six months
- CEO sounds warning on zero down-payment loans and low rates
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Tisco Financial Group Pcl, Thailand’s top performing bank stock this year, is becoming wary of risky lending practices as the Southeast Asian nation’s economy slows.
The bank is focused on asset quality and may fail to achieve its 2019 loan growth target of 5% amid intense competition in the car credit sector and central bank mortgage curbs, Chief Executive Officer Suthas Ruangmanamongkol said.