The Bank of Thailand (BOT) has reaffirmed commercial banks’ financial health, urging members of the public to remain confident with the banks’ ability to cope with the COVID-19 economic fallout.
Thailand’s commercial banks are financially sound and are able to withstand any economic impact from the pandemic, Bank of Thailand (BoT) Deputy Governor Ronadol Numnonda said in a statement Sunday.
Deputy governor on financial institution stability Ronadol Numnonda revealed commercial banks in Thailand are still backed by a large amount of excess reserves thanks to a stringent monetary policy.
The central bank asked financial institutions to run stress tests and the results showed all the lenders possess sufficient capital to cope with a “severe crisis.” There are also both fiscal and monetary policies in place to help the economy, according to Mr Ronadol.
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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.(more…)
Asia Pacific Banks shrug off commercial property risks for now
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.(more…)
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.
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.(more…)
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