GH Bank
{{Short description|Thai state enterprise for mortgage lending}}
{{Infobox company
| name = GH Bank
| logo = Logo of GH Bank.png
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| native_name = ธนาคารอาคารสงเคราะห์
| native_name_lang = TH
| romanized_name = thanakhan akhan songkhro
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| type = State enterprise
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| industry = Mortgage
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| founded = {{Start date and age|1953|09|24}} in Bangkok, Thailand
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| hq_location = Huai Khwang District
| hq_location_city = Bangkok
| hq_location_country = Thailand
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| area_served = Thailand
| key_people = Mr.Akkaruth Sandhyananda (President)
| services = Mortgage financing
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| parent = Ministry of Finance
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| website = {{Official website|ghbank.co.th}}
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GH Bank or Government Housing Bank ({{langx|th|ธนาคารอาคารสงเคราะห์}}; {{rtgs|Thanakhan Akhan Songkhro}}, Thai initialism ธอส. tho-oso){{cite web |title=The Government Housing Bank |url=http://thai-language.com/id/222623 |website=thai-language.com |accessdate=21 August 2019}} is a state enterprise reporting to the Thai Finance Ministry. Founded in 1953, its mission is to extend mortgages to low-income earners.{{cite news |last1=Chantanusornsiri |first1=Wichit |last2=Paweewun |first2=Oranan |title=GH Bank has high-income earners in sight |url=https://www.bangkokpost.com/business/1734091/gh-bank-has-high-income-earners-in-sight |accessdate=21 August 2019 |work=Bangkok Post |date=21 August 2019}}{{cite web |title=General Information |url=https://www.ghbank.co.th/information/about/ghbank-general-infomation/ |website=GH Bank |accessdate=21 August 2019}}
History
On 9 January 1953, King Bhumibol Adulyadej approved the Government Housing Bank Act, B.E. 2496.{{cite web |title=Government Housing Bank Act B.E. 2496 (1953) |url=http://thailaws.com/law/t_laws/tlaw0109_3.pdf |website=ThaiLaws |accessdate=21 August 2019}} The act was published in the Government Gazette on 29 January 1953. The act established a government housing bank as a specialized financial institution. The bank opened for business on 24 September 1953, which is considered the date of its founding. On the occasion of the 40th anniversary year in 1993, the bank changed its logo to a stylised image of "two hands embracing a house". The GH Bank website became operational the same year.{{cite web |title=Bank History |url=https://www.ghbank.co.th/about/history |website=GH Bank |accessdate=21 August 2019}}
Operations
GH Bank is Thailand's largest mortgage lender. {{as of|August 2019}}, it has 1.3 trillion baht in outstanding loans. Most of the bank's customers have loans up to two million baht; its largest loans are seven to eight million baht. In 2019 its loan approval target is 203 billion baht.{{cite news |title=Govt Housing Bank asks government to boost property market |url=https://www.nationthailand.com/Real_Estate/30369732 |accessdate=21 August 2019 |work=The Nation |date=21 May 2019}}
In 2019 GH Bank embarked on an initiative to increase its lending to high-income clients in addition to serving the low-income clients who are its reason for being.{{cite news |title=Government Housing Bank (GH Bank) extends low-cost housing project |url=https://www.thailand-business-news.com/banking/72692-government-housing-bank-gh-bank-extends-low-cost-housing-project.html |accessdate=21 August 2019 |work=Thailand Business News |agency=National News Bureau of Thailand (NNT) |date=24 May 2019}}{{cite news |title=Thousands flock to Government Housing Bank for cheap housing loans |url=https://www.thaipbsworld.com/thousands-flock-to-government-housing-bank-for-cheap-housing-loans/ |accessdate=21 August 2019 |work=Thai PBS |date=23 December 2018}}
GH Bank is one of the few Thai state enterprises that contributes money to the treasury rather than rely on government for funding.{{cite web |title=Thailand's Budget in Brief Fiscal Year 2019 |url=http://www.bb.go.th/en/topic-detail.php?id=8562&mid=456&catID=0 |website=Bureau of the Budget |publisher=Office of the Prime Minister |accessdate=21 August 2019 |page=97}}