Thai banks remain resilient in Q3 2020 but profits declined Ms. Suwannee Jatsadasak, Senior Director, Bank of Thailand, reported on the Thai banking system’s performance in the third quarter of 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…
Thailand borrows US$ 1.5 billion from ADB to fight Covid-19 The ADB’s program supports the government’s efforts to counter the impacts of the coronavirus disease (COVID-19). The borrowing is a part of an executive emergency decree empowering the Thailand’s Finance Ministry to seek loans up to one trillion baht ($32 Bln) to combat economic and…
Thai central bank seen holding key rate at record low to preserve ammunition – Reuters poll BANGKOK (Reuters) – Thailand’s central bank is widely expected to leave its key interest rate unchanged at a record low after three cuts this year to help cushion the economic impact of the coronavirus pandemic, a Reuters poll showed.…
BOT focuses on pre-emptive moves to mitigate Covid-19 impact on economy Pre-emptive measures will be launched in three areas to prop the economy up, it was decided at a meeting of the Bank of Thailand (BOT)’s Monetary Policy Committee and the Financial Institutions Policy Committee. At the year’s first biannual meeting on July 7 of…
Thailand’s financial system more vulnerable amid COVID-19: BoT Thailand’s financial system has become more vulnerable due to the more-than-expected contraction of the country’s economic outlook due to impacts caused by the COVID-19 pandemic, according to the Bank of Thailand (BoT). Bangkok (VNA) – Thailand’s financial system has become more vulnerable due to the more-than-expected contraction of the country’s economic outlook…
Lazada and Aspire partner to provide online merchants with immediate access to working capital during the COVID-19 In this partnership with Lazada, Aspire is offering working capital loan of up to 20,000 THB within 3 hours of application – a departure from the weeks’ long industry standard timeline normally offered by traditional Banks. THAILAND –…
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…
