Economy and commerce
Banking and financial services
BoT governor opens Blockchain the Series
Blockchain Community Initiative Co. issued the world’s first electronic letters of guarantee in the third quarter last year and plans to increase the number of electronic letters of guarantee by 50% in three years. Blockchain Community Initiative Thailand provides electronic letters of guarantee for 22 ...
Low-income households struggle under rapidly mounting debt
Thai workers have shouldered ever-higher household debt in the past 10 years as their incomes have not been adequate to meet their expenses, according to a survey.Thai workers’ household debt averaged Bt91,064 per household in 2010 and jumped 6 per cent per year to Bt158,856 ...
The Nation Reporter
Vietnam and Thailand lead drive to make Southeast Asia cashless
Governments across Southeast Asia are pushing ahead with efforts to create cashless economies, with less developed countries such as Vietnam and Thailand leapfrogging richer ones like Singapore and Malaysia in electronic payments.Keep reading ...
Credit inquiries climbing as household debt swells
Credit inquiries at the National Credit Bureau (NCB) are expected to hit another record high this year amid mounting anxiety over swelling household debt. The number of credit inquiries for existing borrowers is estimated to reach 60 million this year after 12.6 million were made ...
Somruedi Banchongduang
Risky loans by cooperatives a concern
The National Credit Bureau (NCB) has voiced concerns about the asset quality of loans extended by savings cooperatives, particularly for lengthy loans, and about the high debt-service ratio (DSR) of borrowers.Keep reading ...
Somruedi Banchongduang
As digital financial services grow, DeeMoney leads the way
Digital transactions in Thailand are rising significantly, data from the Bank of Thailand shows. Mobile and internet payments were up 83 percent in 2018 from 2016, while fund transfers through traditional channels – branches and ATMs – sank.Keep reading ...
NESDC keeping an eye on borrowing
The state planning unit is keeping a close watch on rising household debt after debt defaults on personal loans increased at a faster rate. The National Economic and Social Development Council (NESDC) reported on Fridaythat household debt in the third quarter of 2018 was equal ...
Chatrudee Theparat
Finance department will be very different in a digital world
From applications in mobile phones, to home automation, to cashless society and beyond, digital is now the new norm in our everyday lives. It is changing what we do and how we get things done in countless ways.We now see robots working alongside people to ...
Survey finds low income earners more frugal than last year
Thailand’s Economic Research Center at the Government Savings Bank has revealed that low-income earners are tending towards frugal behavior, as overall spending dropped compared to last year.The survey sampled 2,150 people nationwide with incomes under 15,000 baht per month. Overall, spending among this demographic during ...
More loans planned for One Million Housing Units project
The Finance Ministry has ordered the Government Housing Bank to increase the limit of housing loans initially set at 50 billion baht for the One Million Housing Units project after it was over-applied.Keep reading ...
