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Banking

Thailand’s banks to reach unbanked customers

In this Global Platform video, Tan Choon Hin, CEO of United Overseas Bank Thailand, discusses industry trends across ASEAN, including regional integration and the push towards Industry 4.0.

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For Thailand, the digitalisation strategy that is being pursued under Thailand 4.0 is improving internet infrastructure, which in turn is opening up opportunities for digital banking.

Tech solutions and programmes for the country’s significant small and medium-sized enterprise sector are broadening banks’ traditional customer bases. 

Tan Choon Hin, CEO, United Overseas Bank Thailand |
Oxford Business Group

With some of the industry’s most experienced analysts conducting on-the-ground research throughout the year, OBG provides its global readership with the business intelligence they need to stay ahead.

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Economics

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.

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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.

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Banking

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.

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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.

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