GH Bank

GH Bank or Government Housing Bank (Thai: ธนาคารอาคารสงเคราะห์; RTGS: thanakhan akhan songkhro, Thai initialism ธอส. thaaw aaw saaw)[1] is a state enterprise reporting to the Thai Finance Ministry. Founded in 1953, its mission is to extend mortgages to low-income earners.[2][3]

GH Bank
Native name
ธนาคารอาคารสงเคราะห์
thanakhan akhan songkhro
TypeState enterprise
IndustrySpecialty finance
FoundedSeptember 24, 1953 (1953-09-24) in Bangkok, Thailand
HeadquartersHuai Khwang District,
Bangkok
,
Thailand
Area served
Thailand
Key people
Chatchai Sirilai, President
ServicesMortgage financing
ParentMinistry of Finance Thailand
Websiteghbank.co.th

History

On 9 January 1953, King Bhumibol Adulyadej approved the Government Housing Bank Act , B.E. 2496.[4] The act was published in the Government Gazette on 29 January 1953. The act established a government housing bank as a specialized financial institution. The bank opened for business on 24 September 1953, which is considered the date of its founding. On the occasion of the 40th anniversary year in 1993, the bank changed its logo to a stylised image of "two hands embracing a house". The GH Bank website became operational the same year.[5]

Operations

GH Bank is Thailand's largest mortgage lender. As of August 2019, it has 1.3 trillion baht in outstanding loans. Most of the bank's customers have loans up to two million baht; its largest loans are seven to eight million baht.[2] In 2019 its loan approval target is 203 billion baht.[6]

In 2019 GH Bank embarked on an initiative to increase its lending to high-income clients in addition to serving the low-income clients who are its reason for being.[2][7][8]

GH Bank is one of the few Thai state enterprises that contributes money to the treasury rather than rely on government for funding.[9]

References
  1. "The Government Housing Bank". thai-language.com. Retrieved 21 August 2019.
  2. Chantanusornsiri, Wichit; Paweewun, Oranan (21 August 2019). "GH Bank has high-income earners in sight". Bangkok Post. Retrieved 21 August 2019.
  3. "General Information". GH Bank. Retrieved 21 August 2019.
  4. "Government Housing Bank Act B.E. 2496 (1953)" (PDF). ThaiLaws. Retrieved 21 August 2019.
  5. "Bank History". GH Bank. Retrieved 21 August 2019.
  6. "Govt Housing Bank asks government to boost property market". The Nation. 21 May 2019. Retrieved 21 August 2019.
  7. "Government Housing Bank (GH Bank) extends low-cost housing project". Thailand Business News. National News Bureau of Thailand (NNT). 24 May 2019. Retrieved 21 August 2019.
  8. "Thousands flock to Government Housing Bank for cheap housing loans". Thai PBS. 23 December 2018. Retrieved 21 August 2019.
  9. "Thailand's Budget in Brief Fiscal Year 2019". Bureau of the Budget. Office of the Prime Minister. p. 97. Retrieved 21 August 2019.
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