Banking
Thai household debt could rise beyond 80 percent of GDP
Thai household debt stood at 79.8 percent of GDP in the first quarter of this year, it said in a report issued by the National Economic and Social Development Council (NESDC).
Thailand’s national economic planning agency on Tuesday told the media that the COVID-19 crisis has had a massive impact on household debt which may soar beyond 80 percent of gross domestic product (GDP).
Thai household debt stood at 79.8 percent of GDP in the first quarter of this year, it said in a June report issued by the National Economic and Social Development Council (NESDC).
“The pandemic resulted in businesses shutting down in addition to the drought already having hit households hard, leading to increased borrowing of money as incomes declined,” said NESDC secretary-general Thosaporn Sirisumphand.
Thosaporn also said that the economic impact will be severe in the second quarter, as many businesses have laid off workers or cut their employees’ salaries.
The official also said consumer loans expanded 7.5 percent in the fourth quarter of last year.
…/…
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.
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.
(more…)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
A resurgence of coronavirus infections in Thailand will hamper the country’s economic recovery and raise asset risks for banks in the country.
(more…)
Thailand Approves Package to Attract Wealthy Foreigners and Professionals
Thailand’s Cabinet has approved an economic stimulus and investment promotion package aimed at attracting wealthy foreigners and highly skilled professionals...
The Role of Telemedicine Today: During and Beyond the COVID-19
Lockdowns, quarantine periods, and hospitals fast filling to the brink needed the medical community to come up with solutions fast....
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...
Climate Change Could Force 49 Million People to Migrate in East Asia and the Pacific
Out-migration hotspots in agricultural areas of central Thailand and Myanmar coincide with areas expected to see declines in both water...
Thailand BOI Approves Measures to Support Carbon Reduction
greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support...