Economy and commerce

Banking and financial services

Govt 'solves' 233 cases of informal debt: PM

The government claims it has solved the informal debts of 233 registered debtors while Prime Minister Srettha Thavisin on Saturday went to observe a debt-solving model in Nan.According to government spokesman Chai Wacharonke, data from the Interior Ministry shows 106,863 debtors have registered with the ...

Bangkok Post Reporter

Thai banks' bad loans slow to 2.73% of lending at December-end

Thai banks’ non-performing loans stood at 2.73% of total lending at the end of December 2022, down from 2.77% at the end of September, helped by debt restructuring, the central bank said on Monday.The banking system remained strong with high levels of capital, loan-loss provisions ...

Banks urged to act fast on scam claims

Banks must stop illegal transactions upon request by their clients to prevent customer losses from online scams, said Minister of Digital Economy and Society (DES) Chaiwut Thanakamanusorn. The Royal Decree on Cyber Crime Prevention and Suppression that came into effect on March 17 empowers banks to ...

The Nation Reporter

Credit card spending up 20% in second quarter

Credit card spending in Thailand during the second quarter of this year increased by more than 20% and is expected to continue throughout the year, with an increase of no less than 20% for the whole of 2023.According to Thakorn Piyapan, President of TMBThanachart Bank, ...

The Nation Reporter

Banks wary of BOT's proposed debt relief criteria

The Bank of Thailand (BOT) is poised to issue three guidelines to reduce household debt – which rose to 16 trillion baht or 90.6% of GDP in the first quarter, from 86.3% last year.The central bank said it will propose guidelines on responsible lending, risk-based ...

The Nation Reporter

Banks hesitate in rush to cashless era

The banking industry’s push to discourage the use of cash led some to believe it was a good idea to charge fees for cash transactions and suspend cardless money withdrawals at ATMs. The Bank of Thailand and local banks have been promoting digital payments in their ...

Bangkok Post Reporter

Cyber scams: Top bankers unite to battle rise in financial crime

The central bank, commercial banks and state-run financial institutions are joining forces to fight online criminals preying on bank customers, officials and executives told a press conference on Friday.Senior officials from the Bank of Thailand (BOT), the Thai Bankers’ Association (TBA), and the Government Financial ...

The Nation Reporter

Central bank turns to biometrics to battle online scams

The Bank of Thailand has joined the fight against online crimes by instructing financial institutions to step up their preventive measures, including a requirement for biometric verification for mobile banking transactions, its governor, Sethaput Suthiwartnarueput, said on Thursday.Bank customers who want to transfer more than ...

The Nation Reporter

Thai central bank expects virtual banks to start operations in 2025

Thailand’s central bank expects virtual banks to begin operating in the second quarter of 2025, it said in a statement on Thursday.The Bank of Thailand said it plans to propose giving licences to three operators for virtual banks, but may open this up for additional ...

Thai central bank to test retail digital currency late this year

Thailand’s central bank said on Friday (Aug 5) it expected to test its retail digital currency from late this year to the middle of 2023, as an alternative payment option.During the testing, the retail central bank digital currency (CBDC) will be used in conducting cash-like ...

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