ACL targets B100 billion in assets

ACL Bank expects its assets to reach 100 billion baht by 2009, said bank president Thongchai Ananthothai.

The bank's assets, which totaled 60.68 billion baht at the end of last year, have tripled in the three years since it upgraded to a universal bank. Its loan book totaled 33.9 billion baht at the end of 2007, up from 8.47 billion three years ago, while deposits have risen four-fold over the same period to 41.23 billion at the end of last year.

''Considering the success of the past three years and our form, I believe that ACL will be able to become a 100- billion-baht bank by next year,'' Mr. Thongchai said.

''We can manage our customer relationships much closer than others, with a flexible, customer-centric focus,'' he said.

ACL is going to expand its loan book to 51 billion baht this year, or by 55%. Deposits are planned to rise by 37.3% to 60 billion baht by year end.

Non-performing loans in the past three years have fallen to 1.752 billion baht, or 5.1% of total assets, down from 8.75 billion baht, or 42% of total assets.