Krung Thai Bank has not approved 160 billion baht in loans for the government’s rice-pledging scheme, as reports on social media have claimed, KTB president Worapak Thanyawong said on Thursday.
Mr Worapak insisted that the issue of whether to approve loans for the Bank for Agriculture and Agricultural Cooperatives to pay farmers involved in the rice scheme was not on the agenda at a meeting of the board of KTB directors.
He added that he was confident the government would not attempt to use KTB to finance its rice scheme.
Despite being state-owned, Mr Worapak said KTB is a commercial bank listed on the Stock Exchange of Thailand (SET). More than 45% of its shareholders are retail and institutional investors, so it must maintain its competitiveness with other commercial banks, he said.
Loan approval standards based on risk factors and the ability of borrowers and guarantors to service debts will be used to make loans decisions regardless of whether clients are public and private sector, he added.
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