2023-05-09 13:51:00
Mr. Withai Rattanakorn, President of the Government Savings Bank, revealed that the Government Savings Bank is preparing to exercise the option to sell 49% of its shares in Fast Money Co., Ltd. worth 1,500 million baht, returning to Srisawad Corporation Public Company Limited or SAWAD, according to the contract between the parties. holding shares since the beginning of investment. Cash Fast Co., Ltd. for a period of 2 years with the main objectives to increase competition in the motorcycle title loan market which such action The market interest rate structure can be reduced by regarding 8-10% per year from the original 26-28% per year when the project was announced. Currently, the interest rate has dropped to regarding 16-18% per year.
However, it can still generate profits for entrepreneurs at a reasonable level. and help low-income earners have access to loan sources in the system with cheaper and fair credit costs by Cash Fast Co., Ltd. Has approved more than 1.7 million low-interest loans to low-income people and expects to benefit from lower interest rates. Both the car title loan market More than 5 million
Incidentally, following selling back the shares, Government Savings Bank and Srisawad Plc. has agreed to sign a memorandum of business cooperation The bank will provide loans to Instant Cash Co., Ltd. at an appropriate interest rate. Will still issue a motorcycle title loan with a normal interest rate of no more than 18% to help low-income people. To continue to access credit with suitable interest rates.
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