Banking
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
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
Banking
Fitch Affirms Thailand’s rating at ‘BBB+’ with a Stable Outlook
Fitch forecasts Thailand’s tourism-dependent economy will recover only modestly, by 1.8% in 2021 after a sharp 6.1% contraction in 2020.
Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’ with a Stable Outlook.
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Economics
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.
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Thai Government Plans to Increase 2022 Investment Budget by 90 Billion baht ($2.84 bln)
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Fitch Affirms Thailand’s rating at ‘BBB+’ with a Stable Outlook
Fitch forecasts Thailand's tourism-dependent economy will recover only modestly, by 1.8% in 2021 after a sharp 6.1% contraction in 2020.
One-stop SME information portal connecting ASEAN businesses and beyond
The ASEAN Access is a flagship initiative of the ACCMSME, spearheaded by the OSMEP, Thailand and supported by the Federal...