Credit card loans, 2004: Continued growth.

(From Thai Press Reports)

Section: Economy - Credit card data for the first quarter of 2004 (Q1/2004) still indicates growth in volume of credit cards and outstanding balances, while purchases via credit cards shrank slightly. Based on a study of growth in credit card business after the implementation of the 18 percent interest rate ceiling and minimum monthly income requirement of Bt15,000, during the period from the fourth quarter of 2002 to the first quarter of 2004, it was found that the Thai banking group posted the most outstanding growth in credit card business. Simply put, the credit card base and purchases via credit cards recorded their highest growth in comparison with the overall growth of …