Economy and commerce
Banking and financial services
Thailand, Myanmar agree to use baht, kyat for cross-border payments
Veerathai Santiprabhob, governor of the Bank of Thailand, and his Myanmar counterpart U Kyaw Kyaw Maung, signed two memoranda of understanding (MoU) on October 18 during the IMF-World Bank meeting in the US. The signing was witnessed by Myanmar’s Minister for Planning and Finance U ...
The Nation Reporter
Household debts of Thais alarm economists
The ratio of household debt to GDP has risen by 78.8 per cent meaning that Thai citizens have combined debts of Bt13 trillion debts, the second-highest in Asia, according to a recent seminar on the subject of household debt and homeownership organized by the Real ...
The Nation Reporter
Study shows most Thai people live hand to mouth
Nearly half of Thailand’s citizens aged 18-65 are spending everything they earn on monthly bills and living expenses, leaving them with nothing to put aside as savings. A study carried out by GoBear, an international financial comparison site, reveals that the highest percentage of people ...
May Taylor
Household debts rise, as consumers default on loans: NESDC
In the first quarter of this year, household debt nationwide stood at Bt13 trillion, rising by 6.3 percent and accounting for 78.7 per cent of the total GDP – the highest since the first quarter of 2017, the latest report on Thailand’s Social Situation and ...
The Nation Reporter
Economic slowdown leads to strict control on bank loans
The Bank of Thailand has reported that data from commercial banks in the second quarter has revealed a spike in overdue debts, and that SME loans are on the rise and have the potential of becoming non-performing loans (NPLs).Tharit Panpiamrat, senior vice president of the ...
The Nation Reporter
BoT sets expectations of lenders to keep down household debt
The Bank of Thailand (BoT) has revealed its new policy for loaning in order to control household over-indebtedness, which has been rapidly increasing.The BoT has set out five guidelines for banks to consider as the national overseer aims to ensure banks remain sustainable. Keep reading ...
The Nation Reporter
Baht speculation curbed but Thailand still open to long-term foreign investment: BOT
The Bank of Thailand (BOT)’s latest measure to manage the inflow of foreign money should not affect long-term foreign investment in the country, BOT director of economic analysis Pornpen Sodsrichai said on Thursday.Keep reading ...
The Nation Reporter
Thailand and world prepare for cryptocurrency challenges
The Libra project has shaken the global financial scene since Facebook, with a group of founding members, announced the proposed cryptocurrency last month. The plan to launch a new currency next year is ambitious and controversial, as Libra is scrutinized by central banks around the ...
Fintech a saviour for unbanked Thais: experts
Financial technology is the key enabler for the next era of banking and financial services in Thailand, a seminar heard on Monday.Fintech would enable the 40 per cent of unbanked or underserved Thais to get access to formal financial and banking services, according to panellists ...
Asina Pornwasin
Survey: 60% of regional banks not fully digital
Some 60% of banks in Asia-Pacific do not have full digital account-opening services for new customers, despite recent reports that nine in 10 financial institutions in the region say they are ready to embark on a “digital transformation”, according to a survey by the credit ...
