Credit cards post huge growth in Thailand

THAILAND - The credit-card market is expected to grow by at least 40% next year, following estimated expansion of about 45% this year, Wanvimol Kanoktanaporn, a senior vice-president at the Bank of Asia, said yesterday.

According to the Bank of Thailand, 2.81 million credit cards were in circulation at the end of June, with total outstanding credit of 43.9 billion baht. This compares with 2.15 million cards and credit of 35.4 billion baht in June last year, the Bangkok Post reported.

Ms Wanvimo