Search Results for: loan applications
- Thailand News
Berry far away: Thai farmers chase sweeter loans in Scandinavia
The BAAC is offering loans for Thai farmers to harvest berries in Sweden and Finland this summer. The state-owned Bank of Agriculture and Agricultural Cooperatives (BAAC) earmarked 375 million baht to help 5,000 Thai farmers embark on an adventurous journey to pick wild berries in Sweden or Finland during this year’s harvest season, starting this month. BAAC President Chatchai Sirilai…
- Thailand News
Loan rejections soar for Thai homes under 3 million baht
The Thai housing market is facing a significant challenge as a growing number of loan applications for homes priced below 3 million baht are being rejected. According to the Housing Finance Association, the rejection rate has spiked to 50%, highlighting the vulnerability of this segment despite its substantial market size. The association’s secretary-general and chairman of the executive board, Alangkot…
- Business News
Thai banking industry faces hurdles amid high auto loan rejections
Last year’s robust profits from the Thai banking industry stirred debates, as critics pointed to excessively high interest rates. The sector witnessed a 17.8% surge in net interest income (NII) to 727 billion baht (US$20.2 billion) in 2023, up from 617 billion in 2022. The five biggest banks by assets contributed significantly to this rise with an increased net interest…
- Thailand News
Thai nursing students demand government expedite delayed student loans
A group of 60 nursing and public health students from Sri Sa Ket and Nakhon Si Thammarat publicly requested the government to expedite the disbursal of their student loans, which has been delayed for several months. Four representatives from the first-year class of Chalermkarnchana University’s Faculty of Nursing at Sri Sa Ket journeyed to Bangkok to deliver a letter outlining…
- Thailand News
Thai CIB crackdown reveals 500 million baht online loan scam
The Central Investigation Bureau (CIB) has launched the CIB Anti Online Scam, a crackdown operation against a ruthless online loan scheme that has been running through various mobile applications. The operation, which took place at 11am today, led to the arrest of two key suspects and the discovery of more than 500 million baht in circulation. CIB’s operation took place…
- Guides
Can expats get a loan in Thailand?
As an expat living in Thailand, you may have often wondered, “Can I get a loan as a foreigner in Thailand?” Maybe you’re eyeing that lovely condominium in the heart of Bangkok, dreaming of a shiny new car, planning your dream tropical wedding by the beach, or thinking of sprucing up your home. And naturally, you’re looking at loans to…
- Business News
CIMB Thai Bank targets 500 million baht in digital personal loans focusing on upper-income segment
CIMB Thai Bank (CIMBT) has announced intentions to expand its digital personal loan offerings in the current year, aiming for a total of 500 million baht whilst primarily focusing on the upper-income segment. Recently, CIMBT introduced two digital personal loan products – the “Personal Cash” instalment loan and the “Extra Cash” credit line. These products have a combined value of…
- Pattaya News
Bangkok and Chon Buri police arrest 9 suspects they believe were part of loan shark operation
Bangkok and Chon Buri police arrested 9 people through combined raids on what police believe were locations used for illegal loan shark apps. The arrests happened earlier this morning. Thai media reports that 6 of the suspects are Thai nationals and the remaining 3 suspects are Chinese nationals. Economic Crime Suppression Division police and the Provincial Police Region 2 took…
- Economy News
Banks get tough on loan criteria as economic effects of Covid-19 worsen
The Covid-19 crisis has had a devastating effect on the global economy and, while it may have been successful in suppressing the virus, Thailand is in no way immune to the economic fallout. A report in Nation Thailand today says the country’s banks are now clamping down on their lending, imposing stricter criteria on borrowing. PHOTO: Nation Thailand The Bank…
- Economy News
PM assures MPs that government knows how to handle trillion baht loan
“Don’t worry, we got this…” Following the Finance Ministry’s securing of a trillion baht loan, PM Prayut Chan-o-cha spoke up to address concerns over how the funds will be administered. Answering questions raised by opposition parties, the PM said the government has clear rules in place on how the funds will be distributed, with the priority being small and medium…
- Crime News
Bangkok immigration police nab Chinese loan sharks
Bangkok immigration police have arrested 5 organisers and 73 employees at a building in Chom Thong district today, where alleged Chinese loan sharks were running an illegal finance firm. The company, “Thai Luck Trade” extended loans at interest rates far higher than the limit under Thai law. The company was registered as a merchant dealing in glasses, watches and cameras…
- Covid-19 News
Hundreds seek Emergency loans from the Government Saving Bank
Parn Phet Market Government Savings Bank branch in Mukdahan (north eastern Thailand) reports that hundreds of people have lined up to seek emergency loans from the government to help those affected by the Covid-19 crisis. The queue was stated to have been so long that it stretched out onto the street. After making their online applications, those applicants were asked…
- Phuket News
Phang Nga Gov raps banks over slow loans
PHANG NGA: Phang Nga Governor Anuwat Metheeviboonwut yesterday criticized banks and other financial institutions for taking too long to process applications for soft loans by business owners affected by the tsunami.Gov Anuwat said, “The problem we have today is that 80% of the business owners are still waiting for loans from financial institutions to be approved.“If the financial institutions were…
- Phuket News
Relief loans for tourism businesses
PHUKET: The Small and Medium Enterprise Development Bank (SME Bank) of Thailand is offering members of the Phuket Eco-tourism Association (PEA) loans of up to 5 million baht, it was announced today. Speaking at a seminar held at the Royal Phuket City Hotel this afternoon, SME Bank Phuket branch manager Adisorn Kittipatanapaiboon said that loans of between 300,000 and 5…
- Business News
Second-hand tsunami: Used car flood drives Thai sellers to despair
A torrent of high-quality used cars flooding the market might sound like a bargain hunter’s dream but it’s turning into a nightmare for sellers. While buyers drive off with the deals, automakers in Thailand are hitting potholes trying to move new stock, and used car dealers are struggling to keep sales engines running. The second-hand car market skidded to a…
- Hot News
Bank of Thailand warns of elevated financial cybercrime risk
The Bank of Thailand (BoT) is warning consumers and banks of an elevated financial cybercrime risk. The warning comes after a man claimed that he had lost 101,560 baht from his bank account after using a public charging outlet. The BoT denied the claim after conducting an investigation and said it believes the theft occurred because the man was a…
- Technology News
Everything you need to know about 5G
by Live Tiles 5G literally refers to the fifth-generation of wireless technology, following on from 3G and 4G. The biggest changes will bring users higher speeds, lower latency, and the chance to connect more devices at once. Speed, for example, will provide almost instantaneous transfers across the internet, faster than the human reaction time. So something like a livestream of…
- Business News
Phuket Business: Andaman motor show drives sales; Limited companies spike
PHUKET: THE 14th Andaman Motor Show, organized last week at HomeWorks, opposite Central Festival Phuket, concluded with one of its most vibrant years in car sales. The six-day event, this year under the theme “Summer on the Beach”, ended on Wednesday. “We don’t have final figures for the overall number of car loan applications yet, but I have to admit…
- Phuket News
Andaman Motor Show drives Phuket car sales
PHUKET: The 14th Andaman Motor Show currently under way at HomeWorks, opposite Central Festival Phuket on the bypass road, is enjoying one of its best years in car sales. The six-day event, this year under the theme “Summer on the Beach”, ends on Wednesday. “We don’t have final figures for the overall number of car loan applications yet, but I…
- Phuket News
Phuket property worst hit at “high end”
PHUKET: More than 10 residential projects with a combined market value of nearly 10 billion baht remain “on hold” in Phuket, because demand from both domestic and foreign buyers – especially for luxury homes – has fallen to less than half of last year’s level. Wanwipa Horbut, deputy managing director of luxury property developer Surin Hill Development, said demand for…
- Thailand News
Decline in family income threatens Thai children’s education
The average monthly income of Thailand’s very poor families has plummeted, placing children’s education in jeopardy. According to the Equitable Education Fund (EEF), these families’ earnings dropped to a mere 1,039 baht per month in 2023, down from 1,077 baht in 2020. This translates to a daily income of just 34 baht—far below the World Bank’s poverty line of 80…
- Business News
Finance minister orchestrates with BoT for fiscal symphony
Finance Minister Pichai Chunhavajira is adopting a more cooperative stance towards the Bank of Thailand (BoT) compared to the Thai prime minister, aiming to align fiscal and monetary policies more effectively. Prime Minister Srettha Thavisin has been advocating for interest rate cuts to stimulate the economy. Pichai, however, has shifted the focus towards enhancing public access to finance, expressing his concerns…
- Technology News
How blockchain technology is transforming finance
Just imagine a world where your money is not only safe, but everything about it is transparent and cannot be tweaked or twisted. Sounds like a dream, right? Well, that’s where we’re headed thanks to the power of blockchain technology. This isn’t some sci-fi concept; it’s happening now. Blockchain acts as a shared ledger system and is shaking up the…
- Thailand News
Ombudsman: No jurisdiction over digital wallet scheme complaints
Keirov Kritteeranon, the secretary-general of the Office of the Ombudsman, revealed that they lack the power to escalate complaints about the contentious digital wallet scheme to the Constitutional Court or any other legal forum. At the heart of the furore are the government’s ambitious plans to distribute 10,000-baht payments to a staggering 50 million adult citizens through digital wallets, alongside…
- Thailand News
Thai government considers borrowing to fund digital wallet scheme
The Thai government will consult with the Council of State to clarify whether it can borrow 172.3 billion baht from the Bank for Agriculture and Agricultural Cooperatives (BAAC) to partially fund its digital wallet scheme. This decision was made at a coalition party meeting held yesterday where the implementation of the Pheu Thai Party’s proposed 500-billion-baht (US$13.6 billion) scheme was…
- Thailand News
Upcoming super app to integrate with digital wallet scheme
The up-and-coming super app, designed for the 10,000-baht digital wallet scheme, is slated to seamlessly integrate with existing banking applications on users’ smartphones, as per Deputy Finance Minister Julapun Amornvivat’s statement. This application, which has been developed in partnership with the Ministry of Digital Economy and Society (DES) and the Digital Government Development Agency (DGA), is designed to optimise the…
- Business News
LiVE Fin Corp launches new S curve to capital market initiative
LiVE Fin Corp, under the aegis of the Stock Exchange of Thailand (SET), has set in motion a new initiative that seeks to bolster the potential of 60 entrepreneurial entities, startups, and small to medium-sized enterprises (SMEs) in high-growth sectors. The initiative, christened “New S Curve to Capital Market,” has been crafted in partnership with KPMG Thailand, the National Innovation…
- Business News
Virtual banks to revolutionise Thailand’s financial landscape
The Royal Gazette announced that virtual banks are set to become a reality in Thailand, with the Bank of Thailand (BoT) accepting applications from March 20 to September 19 this year. The aim is to stimulate competition and ensure the stability of the financial system, without limiting the number of licences available. Virtual banks are expected to cater to customers…
- Thailand News
Desperate Thai fruit seller offers eye for sale to clear debt
A poignant image of a 57 year old Thai fruit seller in Bangkok has stirred waves across the Internet after he pledged to donate one of his eyes to resolve his financial woes. The heartrending scene, initially shared by the Facebook Page Panda Lab Doctor, depicts the man selling fruits with a placard bearing the urgent message: “Eye for Sale.”…
- Thailand News
Lending company manager arrested for siphoning 200,000 baht from clients’ accounts
A lending company manager in Buriram has been apprehended following accusations of syphoning approximately 200,000 baht from clients’ accounts. The suspect reportedly manipulated the personal details of three clients, thereby gaining access to cash cards used to withdraw funds from the victims’ loan accounts. Anurak, the 32 year old manager of the lending establishment in Mueang district, was taken into…
