Thailand Post has cooperated with six commercial banks in launching fundamental real-time banking services, which will be piloted in 1,400 post offices across the country this May.
The six commercial banks are Bank of Ayudhya, Thai Military Bank, CIMB Thai Bank, Tisco Bank, Thaicredit Retail Bank and UOB Bank. The service will commence in the beginning of this May to facilitate bank customers in communities far from branches of these banks.
A minimum fee of 10 baht will be charged for each transaction depending on the amount of money and the fee rate of each bank. A maximum fee is 30 baht per transaction.
Meanwhile, cash withdrawal and transfer services are expected to commence around the end of this year.
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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