Muangthai Capital Secures USD 92 Million in Financing from Bank of China

Muangthai Capital Public Company Limited (MTC) joined forces with Bank of China (BOC), a global financial institution, through a USD 92 million financing facility. The funding is intended to help strengthen Thailand's household economy and support productivity across occupations through equitable and sustainable access to finance.

Parithad Petampai, Deputy Managing Director, said MTC signed the financing facility with Bank of China (Hong Kong) Limited and Bank of China (Thai) Public Company Limited on 15 May 2024. The facility was valued at USD 92 million, or THB 3.284 billion. The company had completed the necessary foreign-exchange hedging.

“The financing is intended to strengthen Thailand's household economy across occupations through services grounded in good governance and the goal of improving financial stability in Thai society.”

MTC stated that it was Thailand's first microfinance company to receive this support from Bank of China. The company will use the funding to broaden financial opportunities under fair interest rates without imposing an excessive burden on households, reflecting responsible lending and sustainable development across economic, social and environmental dimensions in line with the United Nations Sustainable Development Goals (SDGs).

MTC will continue expanding its loan portfolio in line with its targets while progressing towards world-class standards for quality lending. Its approach emphasises good governance, appropriate risk management and consideration of stakeholders throughout the value chain. The company cited its ‘Excellent’ five-star corporate-governance rating, an A-level SET ESG Rating from the Stock Exchange of Thailand and an AA MSCI rating as evidence of responsible and fair microfinance leadership growing sustainably alongside Thai society.