Krungthai Bank sees e-banking growth from gov’t COVID-19 measures BANGKOK (NNT) – Krungthai Bank has reported a jump in e-banking platform users, thanks to the government’s COVID-19 aid measures which familiarized the general public with electronic transactions via a mobile e-wallet application developed by the bank. Krungthai Bank Executive Director Krisada Chinavicharana disclosed today the…
Thailand’s Banking Outlook changed to negative (Moody’s) Moody’s has changed the outlook for Thailand’s banking system to negative from positive as coronavirus outbreak hurts asset quality and profitability Moody’s has changed the outlook for Thailand’s banking system to negative from positive. The operating environment for the country’s banks will deteriorate in the next 12-18 months…
Thai Banks launch packages for clients affected by COVID-19 Commercial banks in Thailand have offered refinancing services to some 30,000 clients, worth 234 billion baht in total. All commercial banks in Thailand have pledged to offer special financial aid to customers and businesses affected directly or indirectly by the economic implications of COVID-19, ensuring sufficient…
Bank cuts Thai 2020 GDP growth outlook to 2.7% SCB’s Economic Intelligence Center (EIC) has released its latest growth forecast, at 2.7 percent, showing a slow recovery from just 2.5 percent economic growth in 2019 SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020…
Corporate debt market in Thailand well positioned for further growth Brazil, China, South Africa and Thailand are best-placed for corporate debt market growth says Moody’s Investors Service in a report that analyzed trends in 35 emerging markets. Corporate debt markets in Brazil (Ba2 stable), China (A1 stable), South Africa (Baa3 negative) and Thailand (Baa1 positive)…
Kasikorn Bank predicts 4-6% growth in loans for 2020 Despite the expectation of a sluggish economy in 2020, Kasikorn bank aims to grow its loan volume by 4-6% next year. They it say they will achieve this withs emphasis “on services that meet customers’ business and lifestyle needs, effective cost management and using data in…
Building ASEAN Banking Cybersecurity resilience Technological revolutions come with their own form of risk: cyber risks. The more “digital” banks become, the more channels for potential points of attacks from cyber criminals, who are constantly evolving to exploit new loopholes. Technology and the internet have undeniably become integrated into our daily lives. Customers’ behaviors continue…
Thailand prepares for cryptocurrency challenges Thailand is moving toward a cashless society. Bank notes and coins are set to become obsolete while transactions via electronic payments have increased over recent years. The plan to launch a new currency next year is ambitious and controversial, as Libra is scrutinized by central banks around the globe, including…
Thailand’s soaring baht reaches six-year high In early 2019, the BOT did not seem concerned about the Thai baht’s appreciation, as a strong currency can actually benefit Thai importers and those who have foreign currency debts The Thai baht has been the best performing currency in emerging Asia since 2018. On a year-on-year basis, it…
Bank of Thailand Holds Key Rate as It Warns of Currency’s Gains The Bank of Thailand left its benchmark interest rate unchanged for a fourth straight meeting, while at the same time downgrading its economic growth outlook and raising concerns about the strong currency. The Monetary Policy Committee voted unanimously to hold its key rate…