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The Thai banking system remained resilient in Q3 2021 says BoT
The Thai banking system remained resilient with high levels of capital fund, loan loss provision and liquidity to serve an important role in assisting borrowers and accommodating loan demand to support economic recovery amidst uncertain COVID-19 situation, said Bank of Thailand latest press release.
Stable outlook for APAC sovereigns as growth rebounds and debt stabilizes
Economic growth rates in Asia-Pacific are broadly rebounding and debt burdens stabilizing, giving rise to a stable outlook for sovereign creditworthiness in 2022. Still, the pace of recovery differs vastly, and some economies will experience deep economic scarring, according to a new report by Moody’s Investors Service.
Thai Economy bottomed out in Q3 2021 says Bank of Thailand
The Thai economy would expand at a pace close to the previous projection for 2021 and 2022 on the back of domestic spending that gradually recovered following the relaxation of containment measures, partially offsetting the adverse impact of higher global energy prices.
Thai banks say measures are implemented to protect cardholders against cyber scams
Under the newly adopted anti-cyber theft mechanism, all commercial banks will closely monitor for unusual transactions, including those which involve frequent but small amounts of money, especially in foreign-based transactions
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.
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.
