In a dazzling celebration of regional excellence, the Asia Pacific Enterprise Awards (APEA) 2023 Regional Edition took center stage to honor outstanding businesses and visionary leaders who have played a pivotal role in propelling their enterprises to new heights on the global stage in the post-pandemic era. The prestigious event, held in Singapore, marked a momentous occasion that underscored the resilience, innovation, and unwavering commitment of Asian entrepreneurs and enterprises in the face of unprecedented challenges posed by the Covid-19 pandemic.
The Government Housing Bank (G H Bank) is among the award recipients under the Corporate Excellence category in the Financial Services industry. G H Bank is a solely state-owned and specialized financial institution under the supervision of the Ministry of Finance. The bank was established under the Government Housing Bank Act B.E. 2496 (1953) to provide credit-housing loans and deposit services. The bank operates its business under Royal Decrees, Ministerial Regulations, and other related notifications issued by the Bank of Thailand, the Ministry of Finance, and related organizations.
Under the G H Bank’s vision of “The Best Housing Solution Bank”, G H Bank is committed to upholding its mission of “Enabling More Thai People to have their own homes” and maintaining a leadership position in the housing loan market.
With the belief that “Good Result comes from Good Processes”, G H Bank prioritizes the management process as its highest priority. This focus has continuously led to outstanding business output and outcomes compared with the private sector, maintaining its market-leading position for ten years in a row with a market share of 33.7% (in 2022).
Other achievements include 5,021 employees and 196 branches nationwide, becoming one-third of the Housing Loan market share in Thailand, achieving a New Loan value of THB 286,490 million at the end of 2022, exceeding the target of THB 226,423 million (4.76% higher than the 2021 target, with a New Loan Market Share of 41% in 2022).
G H Bank also achieved an outstanding loan value of THB 1,598,290 million at the end of 2022 (the highest in Thailand’s housing finance market) and managed Non-Performing Loans to have a value of THB 52,275 million (equal to 3.59% of the total loan value at the end of 2022, which was lower than in 2021).
Besides that, the bank has a total Net Profit value of THB 14,047 million at the end of 2022, exceeding its target of THB 13,400 million, operated 80.76% of all transactions digitally, and expanded more than 22 of its Covid-19 supporting programs to serve each customer’s needs.
Moving forward, G H Bank has established its 5-year operational direction and objectives as well as its business model. The bank has also upgraded its loan and deposit services, adjusted processes to support a digital platform to become a digital bank, and supported government policies. This includes setting its goals in its 5-year operational direction to be in line with government policies.
These goals cover the short-term by upgrading deposit loan services NPL and NPA by releasing the Digital Platform, the medium-term by becoming a fully-digitized bank (in both operation and service), and the long-term by becoming the Best Housing Bank that is sustainable for both customers and stakeholders.
In order to drive the 5-year operations, G H Bank has set strategic objectives to achieve operational goals. These objectives cover expanding housing loans, improving the efficiency of loan portfolio management, upgrading operations to support digital banking, elevating the organization for sustainable growth, and adjusting the business model to support customer behavior after Covid-19.
About Asia Economic Forum (AEF)
Launched in 2012, the Asia Economic Forum serves as an open platform for thought leaders, policymakers, and C-level executives to unite and shape regional initiatives to improve the well-being of communities. Please visit https://economicforum.asia/ for more information.
About Asia Pacific Enterprise Awards (APEA)
Launched in 2007, the Asia Pacific Enterprise Awards is the region’s most prestigious award for outstanding entrepreneurship, continuous innovation, and sustainable leadership. The Award provides a platform for companies and governments to recognize entrepreneurial excellence, hence spurring greater innovation, fair business practices, and growth in entrepreneurship. As a regional award, it groups together leading entrepreneurs as a powerful voice for entrepreneurship and serves as a by-invitation-only networking powerhouse. The program has grown to encompass 16 countries/regions and markets all over Asia. For further information, please visit www.apea.asia.