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Thailand’s banking industry may shrink to five

Thailand’s banking industry may shrink to as few as five lenders from 14 as competition and cost-cutting fuels consolidation, said Boontuck Wungcharoen, chief executive officer of TMB Bank Pcl

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Thailand’s banking industry may shrink to as few as five lenders from 14 as competition and cost-cutting fuels consolidation, said Boontuck Wungcharoen, chief executive officer of TMB Bank Pcl. (TMB) “Thailand has too many banks for the size of the market,” Boontuck, 55, said in a June 22 interview in his office in Bangkok.

“The country should probably have five or six strong banks, so I think you will see consolidation over the next five years.” TMB is 26 percent owned by the Ministry of Finance. Read More

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Banking

Bank of Thailand warns of risks of cyber theft when using cryptocurrencies

The future looks promising for cryptocurrencies in Thailand after Siam Commercial Bank Pcl – Thailand’s oldest private bank- invested 17.85 billion baht ($525 Mln) to buy 51% of Thailand’s leading digital asset exchange, Bitkub Online Co.

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The Bank of Thailand stated that the central bank does not support the use of digital currencies for making payments, due to their high price volatility and the risks of cyber-theft.

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The Thai banking system remained resilient in Q3 2021 says BoT

The Thai banking system remained resilient with high levels of capital fund, loan loss provision and liquidity to serve an important role in assisting borrowers and accommodating loan demand to support economic recovery amidst uncertain COVID-19 situation, said Bank of Thailand latest press release.

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The Thai banking system remained resilient with high levels of capital fund, loan loss provision and liquidity to serve an important role in assisting borrowers and accommodating loan demand to support economic recovery amidst uncertain COVID-19 situation, said Bank of Thailand latest press release.

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