Market Briefs

By The Nation
Published on August 29, 2008

GSB to follow other banks in raising deposit rates but pledges to hold loan rates

The Government Savings Bank (GSB) will follow large commercial banks in raising deposit rates but maintain lending rates as long as pos¬sible, says president Lersak Chuladesa.

Lersak yesterday said an interest spread of three percentage points allowed the bank to do this.

Commercial banks are expected to raise their interest rates soon, following Wednesday's resolution by the central bank's Monetary Policy Committee raising the policy interest rate 25 basis points to 3.75 per cent on continued fears of inflation.

"Commercial banks usually adjust both deposit and lending rates upwards, but the GSB has so far raised only its deposit rates. Higher lending rates would place an extra burden on more than 90 per cent of our small clients," he said.

At present, the bank is helping clients cope with higher financial costs by lowering lending rates for some of them.

Last month, the GSB's nonperforming loans stood at 3.7 per cent of total loans. Net deposits totalled Bt34.9 billion. - The Nation

Giorgio ArmaniSamsung LCD unveiled

Samsung is moving into the premiumtelevision segment with the groundbreaking launch of the Giorgio ArmaniSamsung liquidcrystaldisplay (LCD) television set.

The set features a com¬bination of sophisticated and contemporary design from Giorgio Armani, one of the world's most renowned fashion houses, and Samsung's cuttingedge flatscreen technology. It will be available exclusively on a madetoorder basis and come in two models: a 46inch screen for Bt249,990 and a 52inch for Bt289,990.

Samsung's firsthalf performance was better than expected, with more than Bt4 billion in sales revenue. The company had hoped for growth of more than 40 per cent in sales of audiovisual products, which last year earned the company Bt6.8 billion- The Nation

Blink drink campaign targeting ladies

TC Natural, a manufacturer and distributor of food supplements and hangover remedies, is joining with the UOB Lady's credit card of United Overseas Bank (Thailand) to arrange a marketing campaign to boost sales of its Blink collagen drink.

It plans to reach out to female consumers directly, especially healthconscious ones, thus helping the brand achieve sales growth of 1015 per cent.

The collaboration was arranged following the company's successful copromotions with other creditcard operators, including HSBC and Krungthai Card.

TC Natural is also sponsoring other activities at major shopping malls from now until to September 9. - The Nation

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Market Briefs

GSB to follow other banks in raising deposit rates but pledges to hold loan rates

OTHER BUSINESS

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