Bangkok Bank’s President on Thailand Economy and Digital Banking Chartsiri Sophonpanich, president at Bangkok Bank, discusses the U.S.-China trade war, its impact on Thailand, growth in the country, their loss of market share, asset quality and his plans for digital banking. He speaks exclusively on “Bloomberg Markets: Asia” from the sidelines of the Bloomberg Asean…
Thai Baht hits six year high – 31.05 to the US dollar The Thai baht has hit a six-year high, reaching 31.05 to the US dollar yesterday after the US Federal Reserve signalled possible interest rates cuts. The US Fed says their monetary easing would be in response to increased economic uncertainty and a drop in…
BoT and PBC sign agreement on Fintech Collaboration The two central banks aim to promote the use of innovation and technology to reduce costs and improve efficiency of financial products and services. On 9 June 2019 Mr. Veerathai Santiprabhob Governor of the Bank of Thailand (BOT) and Mr. Yi Gang Governor of the People’s Bank of China (PBC), signed a…
Asian real estate and US interest rates Continued upward movements of US interest rates are starting to impact Asian real estate markets in a number of ways Economic conditions in the US continue along a path of steady improvement, with the latest GDP growth rate of 4.1% (annualized), signifying the strongest rate of growth in…
KBank launches KATALYST funding and guiding startup project Startups participating in the KATALYST project will get an opportunity to make a campaign with KBank, which has a customer base of over 14.5 million. Ms. Kattiya Indaravijaya, middle, KBank President, Mr. Supreecha Limpikanjanakowit, left, KBank First Senior Vice President, and Mr. Thanapong Na ranong, right, Beacon…
Thailand launches blockchain letters of guarantee network for 22 banks 22 Thai banks have joined an electronic Letter of Guarantee (e-LG) network on blockchain via BCI (Thailand) Co Ltd with support from the Bank of Thailand (BOT). The e-LG on blockchain is expected to go live in June under the BOT’s regulatory sandbox, before introducing…
April economic and monetary reports (BoT) The number of tourists has grown at 3.3% year-on-year with increased visitor numbers from ASEAN, India, Japan, and Europe, while the number of Chinese tourists is still in decline. Despite the effects of the trade war, the Thai domestic consumption figures, government investments, and the tourism sector still all…
Bangkok Bank and Commerzbank run international trade transaction on Marco Polo blockchain network Two banking members of blockchain trade finance initiative Marco Polo – Bangkok Bank and Commerzbank – have jointly executed an international trade transaction using distributed ledger technology (DLT). Launched in 2017, Marco Polo, which counts over 20 banks from across the globe as its…
China’s Alipay mobile payment platform and TAT sign letter of intent Alipay is the world’s largest mobile and online payment platform operated by Ant Financial Services Group, with over 900 million members. Bangkok, 27 May 2019 – The Tourism Authority of Thailand (TAT) and Alipay (Hangzhou) Information Technology Co., Ltd. today signed a Letter of…
Government Housing Bank (GH Bank) extends low-cost housing project The Government Housing Bank (GH Bank) has launched the one-million-unit low-cost housing project, which provides an opportunity for the general public to buy houses priced below one million baht. BANGKOK, 24 May 2019 (NNT) – The government has a policy to improve the people’s quality of…