Thailand’s banks to reach unbanked customers

Thailand’s banks to reach unbanked customers

Thailand’s banks to reach unbanked customers In this Global Platform video, Tan Choon Hin, CEO of United Overseas Bank Thailand, discusses industry trends across ASEAN, including regional integration and the push towards Industry 4.0. For Thailand, the digitalisation strategy that is being pursued under Thailand 4.0 is improving internet infrastructure, which in turn is opening up opportunities…

Thai banks slash growth forecast around 2%

Thai banks slash growth forecast around 2%

Thai banks slash growth forecast around 2% Thai growth may be around 2% or less, said two major Thai commercial banks and a senior official of the Bank of Thailand. Several major Thai banks have drastically reduced their GDP growth forecast for 2020 citing the coronavirus epidemic, drought and fiscal delays. The coronavirus epidemic, the…

Thailand’s loss of trade privileges with US is credit negative

Thailand’s loss of trade privileges with US is credit negative

Thailand’s loss of trade privileges with US is credit negative The development is credit negative because Thailand’s export-oriented economy is in a difficult external environment given that a broad-based export slowdown and strong Thai baht are weakening the competitiveness of goods exporters and the country’s tourism industry. https://youtu.be/GK805y3uOmY Thailand’s loss of trade privileges with US…

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…

Thailand’s biggest debt trap is not Chinese

Thailand’s dangerous debt addiction

Thailand’s dangerous debt addiction Thailand is now a top-ten highest household debt country among 89 countries worldwide and third highest among 29 Asian countries. Thailand’s household debt has steadily increased to 78.6% of the country’s gross domestic products (GDP), or Bt12.8 trillion in the fourth quarter of last year, according to figures from the National…