Economy and commerce

Banking and financial services

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 ...

Government, BOT working closely to create cashless society

The government and the Bank of Thailand (BOT) are successfully moving the country towards a cashless society and digital economy, government deputy spokeswoman Ratchada Thanadirek said.Ratchada said on Monday that the government and the BOT have a significant role to play in this transition with ...

The Nation Reporter

Justice Ministry helps restructure household debts amounting to Bt921.6 million

The Justice Ministry has helped 4,130 people settle debts of Bt921.65 million at the first “Festival for household debt settlement”, held at the Bangkok International Trade & Exhibition Centre on Friday and Saturday.Justice Minister Somsak Thepsuthin said on Monday that the event was a “success”.Somsak ...

The Nation Reporter

BoT expects uptick in demand for lending

The Bank of Thailand (BoT) expects that the picking up trend of the Thai economy will support economic activities and loan demand this year.Loan demand for 2022 should be in line with economic activity under the economic rebound. Normally the BoT does not forecast loan ...

Bangkok Post Reporter

SCB preps with long-term debt rejig

Siam Commercial Bank (SCB) has prepared long-term debt restructuring for customers to help them survive the prolonged Covid-19 pandemic, in line with the central bank’s requirement.SCB expects applicants for debt relief measures in 2022 to have 500 billion baht in debt outstanding, up from the ...

Somruedi Banchongduang

More people rely on internet payments since Covid: poll

More people have turned to the internet for financial transactions and making payments for goods and services, according to the result of a survey by Suan Dusit Rajabhat University, or Suan Dusit Poll.The poll was conducted online on 1,047 people throughout the country from Nov ...

Bangkok Post Reporter

Central bank expects spike in NPLs

The Bank of Thailand (BoT) expects higher non-performing loans (NPLs) in the local banking system after banks relaxed debt assistance measures, but the bad loans are expected to be contained under the strong risk management of the banking sector.The central bank on Friday announced the ...

Somruedi Banchongduang

Debt restructuring to be extended

Debt restructuring periods offered to borrowers affected by the pandemic could be extended to more than 10 years, says Thai Bankers’ Association (TBA) chairman Payong Srivanich.The Bank of Thailand, in collaboration with the TBA, recently implemented additional debt assistance measures to provide sustainable aid to ...

Somruedi Banchongduang

Banks never told to slash debts, says central bank

The Bank of Thailand (BOT) announced on Monday that it had not instructed commercial banks and financial institutions to slash the amount owed by debtors, but to instead restructure debts.BOT issued the statement after the Thai Bankers Association (TBA) voiced concerns over a circular issued ...

The Nation Reporter

BoT sets 2 paths for household debt

A central bank economist forecasts a crossroads for the country’s household debt over the next four years, either rising to 92.8% of GDP or declining to 79.1%.If Thai household debt grows at 1.2 times GDP, average growth over the past five years, the country’s household ...

Bangkok Post Reporter

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