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Fintech: the natural response to a quarantined economy

During the global lockdown, MSMEs needed Financial Technology (fintech) to keep business operations going. FinTech companies also provided an intrinsic relief to business owners that were at risk of getting sick by continuing to operate manually.

Thai SMEs Exporting to RCEP Countries to receive special loans

Under the campaign, the Export-Import Bank of Thailand (EXIM Bank) has allocated 3 billion baht to issue loans to SMEs, micro SMEs and community enterprises. To be eligible, a business must be looking to export products to the RCEP market.

UOB Thailand outlook changed to negative after acquisition of Citi

United Overseas Bank (Thai) Public Co Ltd, headquartered in Bangkok, reported total assets of THB725 billion as of 31 December 2021. The outlook was changed to negative from stable because the acquisition will result in a significant decrease in UOBT’s core capital ratio.

Credit trend for APAC corporates will remain stable in 2022 (Moody’s)

Moody’s estimates that the GDP growth of G-20 advanced and G-20 emerging economies will grow at 4.2% and 4.8%, respectively, in 2022. Fiscal policies across countries will shift from accommodative to strengthening long-term growth potential and debt sustainability.

Thailand to further regulate payments in crypto-currencies

The three institutions intend to avert potential impacts on the country’s financial stability and economic system, the Bank of Thailand, the Securities and Exchange Commission and Ministry of Finance said in a joint statement.

Citi to Sell Consumer Bank in Indonesia, Malaysia, Thailand and Vietnam to UOB Group

The agreement covers all related Citi staff, with approximately 5,000 consumer bank and supporting employees expected to transfer to UOB upon close of the proposed transaction. 

Emerging-Market Central Bank Asset Purchases Can Be Effective but Carry Risks

In previous years, it would have been mainly advanced economy central banks making purchases of government debt. However, for the first time on a significant scale, central banks in countries such as South Africa, Poland, and Thailand broke new ground through their use of asset purchases to combat market dysfunction.

Fitch keeps Thailand’s Outlook Stable at ‘BBB+’

Fitch Ratings – Hong Kong – 20 Dec 2021: Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’ with a Stable Outlook.