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33% of Thais have less than 500 baht on their bank account

A study by Puey Ungphakorn Institute for Economic Research has identified just over 30 million Thais with savings accounts, altogether responsible for over 10 trillion baht in deposits.

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One-third of Thai depositors have a deposit balance below 500 baht, and 50% of them have a balance below 3,124 baht.

Meanwhile the combined deposits of the largest 10% of depositors account for 93% of commercial banks’ total deposits, according to the Puey Ungphakorn Institute for Economic Research (Pier), the Bank of Thailand’s think tank.

This means a high concentration of deposits and low savings for many Thais, as 0.2% have deposits of more than 10 million, said Atchana Lamsam, head of networking and communications for Pier.

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Banking

Malaysia, Thailand banks to join the ASEAN Banking Integration Framework

Banking institutions from Thailand and Malaysia are invited to join the ASEAN Banking Integration Framework and indicate their interest to become a Qualified ASEAN Bank (QAB) in Malaysia and Thailand.

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Pursuant to the bilateral arrangement under the ASEAN Banking Integration Framework (ABIF) between Bank Negara Malaysia (BNM) and the Bank of Thailand (BOT) which was concluded in April 2019, banking institutions from Thailand and Malaysia are invited to indicate their interest to be a Qualified ASEAN Bank (QAB) in Malaysia and Thailand.

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Banking

Coronavirus raises asset risks but Thai banks will maintain adequate solvency

A resurgence of coronavirus infections in Thailand will hamper the country’s economic recovery and raise asset risks for banks in the country, says Moody’s

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A resurgence of coronavirus infections in Thailand will hamper the country’s economic recovery and raise asset risks for banks in the country.

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