Banking

Bank of Thailand holds rate to 2%

The Bank of Thailand’s Monetary Policy Committee members voted 6-1 to maintain its benchmark rate at 2%, stating that “the current monetary policy remains appropriately supportive of the Thai economic recovery.”

Published

7 years ago

April 23, 2014

Bahar Karaman

The committee deems prolonged political uncertainties to be the main cause for higher downside risks to growth. Financial conditions are accommodative, and are not hindering domestic spending.

Growth of the Thai economy in the first quarter of 2014 is expected to contract by more than previously assessed from domestic demand. Private investment and tourism have felt greater impact from political uncertainties.

Exports of goods gradually improved but could not offset the overall subdued growth. Looking ahead, the prospect for economic recovery hinges importantly on the political developments. Economic expansion this year is expected to be lower than previous assessment, and driven mainly by exports. Inflationary pressure rose in line with expectations.

Source : http://www.bot.or.th/Thai/MonetaryPolicy/Documents/MPC_32014.pdf

Banking

Can the Subscription Economy Save Financial Services?

Going back to the pre-Covid “normal” is not an option for financial services. Fortunately, the rise of the subscription economy points towards frontiers of untapped growth for the sector.

Published

11 hours ago

February 25, 2021

Insead Knowledge

As the world waits for mass vaccination to revive economic activity, general malaise has overtaken the financial services industry (FSI). And things will probably worsen before they get better: US banks are expected to suffer US$318 billion in net loan losses by the end of 2022, according to Deloitte.

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Banking

Asia Pacific Banks shrug off commercial property risks for now

Published

2 days ago

February 23, 2021

Daniel Lorenzzo

APAC commercial property prices were down around 3% on average in 2020, after a 1% rise in 2019. But the coronavirus-induced decline has been modest compared to past downturns, suggesting that the impact on banks’ commercial real estate loans will generally be much smaller this time.

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Banking

Thai banks net profit stood at 146.2 billion baht in 2020

The Thai banking system remained resilient with high levels of capital fund, loan loss provision and liquidity to support economic recovery from the COVID-19 pandemic. according to latest Bot assessment.

Published

2 days ago

February 23, 2021

Aishwarya Gupta

Ms. Suwannee Jatsadasak, Senior Director, Bank of Thailand, reported on the Thai banking system’s performance in 2020 that the Thai banking system remained resilient with high levels of capital fund, loan loss provision and liquidity to support economic recovery from the COVID-19 pandemic.

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