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, credit card spending in the first half of the year reached 175 billion baht, a 13% increase, leading the bank to remain confident about achieving its target of 350 billion baht in spending and new credit lines of 97 billion baht.
This growth in credit card usage is believed to be due to the bank’s marketing promotions and increased customer engagement, Thakorn said, adding that almost 25,000 cards had been issued in the previous month alone.
The Nation Reporter
