Thai banks are expected to continue to show resilience after economic and political shocks in the past two years, International ratings agency Fitch Ratings said in its special report released on Tuesday.
“The heightened operating risks from the prolonged political turmoil in Thailand and still weak economic environment, could impact profitability, loan growth and asset quality in the medium term. However, strong capital and liquidity should help at least the stronger banks to maintain overall performance in 2010,” said Vincent Milton, Managing Director of Fitch Ratings Thailand and a Senior Director of Financial Institutions at the agency.
“The three bellwether banks, Bangkok Bank Public Company Limited, Siam Commercial Banks Public Company Limited and Kasikornbank Public Company Limited continue to outperform the sector with Bank of Ayudhya Public Company Limite also emerging as a strong performer. TMB Bank Public Company Limited still lags, although its performance has stabilized andshould improve in 2010,” Mr Milton noted.The report entitled “Thai Banks: 2009 and Q110 Review and Outlook — Resilient, But Risks to Outlook Remain” states that although Thailand’s economic outlook for 2010 appears to be improving, overall conditions are likely to remain weak.
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.
The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.(more…)
S&P maintains Thailand’s credit rating at BBB+ with stable outlook
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.(more…)
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