Thailand’s Banking Outlook changed to negative (Moody’s)

Thailand’s Banking Outlook changed to negative (Moody’s)

Thailand’s Banking Outlook changed to negative (Moody’s) Moody’s has changed the outlook for Thailand’s banking system to negative from positive as coronavirus outbreak hurts asset quality and profitability Moody’s has changed the outlook for Thailand’s banking system to negative from positive. The operating environment for the country’s banks will deteriorate in the next 12-18 months…

Thai Banks launch packages for clients affected by COVID-19

Thai Banks launch packages for clients affected by COVID-19

Thai Banks launch packages for clients affected by COVID-19 Commercial banks in Thailand have offered refinancing services to some 30,000 clients, worth 234 billion baht in total. All commercial banks in Thailand have pledged to offer special financial aid to customers and businesses affected directly or indirectly by the economic implications of COVID-19, ensuring sufficient…

Bank cuts Thai 2020 GDP growth outlook to 2.7%

Bank cuts Thai 2020 GDP growth outlook to 2.7%

Bank cuts Thai 2020 GDP growth outlook to 2.7% SCB’s Economic Intelligence Center (EIC) has released its latest growth forecast, at 2.7 percent, showing a slow recovery from just 2.5 percent economic growth in 2019 SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020…

Kasikorn Bank predicts 4-6% growth in loans for 2020

Kasikorn Bank predicts 4-6% growth in loans for 2020

Kasikorn Bank predicts 4-6% growth in loans for 2020 Despite the expectation of a sluggish economy in 2020, Kasikorn bank aims to grow its loan volume by 4-6% next year. They it say they will achieve this withs emphasis “on services that meet customers’ business and lifestyle needs, effective cost management and using data in…

Building ASEAN Banking Cybersecurity resilience

Building ASEAN Banking Cybersecurity resilience

Building ASEAN Banking Cybersecurity resilience Technological revolutions come with their own form of risk: cyber risks. The more “digital” banks become, the more channels for potential points of attacks from cyber criminals, who are constantly evolving to exploit new loopholes. Technology and the internet have undeniably become integrated into our daily lives. Customers’ behaviors continue…

Thailand prepares for cryptocurrency challenges

Thailand prepares for cryptocurrency challenges

Thailand prepares for cryptocurrency challenges Thailand is moving toward a cashless society. Bank notes and coins are set to become obsolete while transactions via electronic payments have increased over recent years. The plan to launch a new currency next year is ambitious and controversial, as Libra is scrutinized by central banks around the globe, including…

Thai central bank steps in to curb baht price’s surge

Thailand’s soaring baht reaches six-year high

Thailand’s soaring baht reaches six-year high In early 2019, the BOT did not seem concerned about the Thai baht’s appreciation, as a strong currency can actually benefit Thai importers and those who have foreign currency debts The Thai baht has been the best performing currency in emerging Asia since 2018. On a year-on-year basis, it…