Bank
- Business News
HSBC Thailand seeks licence, raises capital for local business expansion
In preparation for local business expansion, HSBC Thailand is working to raise additional funds and secure a new licence, in line with the nation’s economic growth. The bank’s capital is set to increase by 3.1 billion baht, reaching 25.7 billion, according to chief executive Giorgio Gamba. Furthermore, HSBC Thailand is seeking a new business licence from the regulator to bolster…
- Business News
Bank of Japan to maintain ultra-loose policy, downplays change expectations
The Bank of Japan’s Governor, Kazuo Ueda, has stated that the central bank will continue to maintain its ultra-loose monetary policy, as there remains a significant gap to achieve the 2% inflation target sustainably. Ueda’s comments downplay the expectations of a policy change in the near future. He told parliament, “We expect inflation to quite clearly slow below 2% toward…
- 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…
- Environment News
Phuket government promotes solar energy with low-interest loans
In an effort to encourage more renewable energy use and lessen environmental impact, the Government Savings Bank of Thailand has unveiled the GSB Go Green loan. By providing financing for the installation and purchase of solar panels and other energy-efficient equipment, the bank aims to ease household energy costs in the country while helping to reduce global warming. Withai Rattanakorn,…
- Thai Life
Thailand: Check your 20 baht bills, they might be worth more than you think…
A Thai coin and banknote collector is offering big cash for a rare kind of 20 baht bill that could be in anyone’s wallet in Thailand. Some of the new plastic polymer 20 baht bills which entered circulation last year were printed without a vertical line on the left-hand side, as seen in the picture. “Gig” the rare money collector…
- Crime News
Coffee shop conned by in-person overpayment scam
A coffee shop in Bangkok learned the hard way about a new twist on the classic overpayment scam. They somehow did not suspect the con when a smartly dressed man entered their shop and placed an order for a whopping 550 coffees, put into bottles. An overpayment scam is when somebody makes a payment for more than the actual cost…
- Thailand News
Shopee stops all bank payments after hackers steal from customer in Thailand
E-commerce platform Shopee announced a permanent end to purchases made by bank payment starting today onwards. The decision comes after a customer in Thailand was hacked via Shopee and lost tens of thousands of baht from a bank account linked to the app. The hackers allegedly used the Shopee app to get into bank accounts and transfer money without even…
- Thailand News
Thailand to postpone new cash deposit machine rule after backlash
The implementation of Thailand’s new cash deposit machine (CDM) rule will be postponed after customers complained it would cause unnecessary inconvenience and extra fees for people who do not use credit/debit cards. The new rule will require anyone depositing money into their bank account using a CDM in Thailand to verify their identity with their debit/credit card and PIN. The…
- Hot News
Weakening baht is in focus as meeting called to discuss its impact
The Bank of Thailand is scrambling to find the sources behind the weakening baht as a meeting is called to discuss its impact. Finance Minister, Arkhom Termpittayapaisith, says the depreciating currency is adding to the inflationary pressures and is vowing to determine whether the decline is linked to the country’s economic fundaments. The Finance Ministry is set to hold talks…
- Technology News
Thai bank apps crash on payday causes customer outrage
Siam Commercial Bank joined Bangkok Bank, and TMB Thanachart Bank in causing chaos throughout Thailand this morning when their banking apps crashed. They not only wreaked turmoil throughout the land but they also managed to unite all of its customers – in anger, after their mobile banking systems crashed on the day their salaries were supposed to be transferred into…
- World News
Kasikornbank bank buys 67% of Indonesian bank, Bank Maspion
One of Thailand’s premier banks, Kasikornbank, has purchased majority shareholding in Indonesian bank, Bank Maspion, for US$220 million. The agreement should be completed by the end of the year, with Kbank owning 67.5% of Maspion shares. Two years ago, rival competitor Bangkok Bank splashed almost US$2.3 billion baht in an Indonesian bank, Bank Permata. Following a plan to spend US$20…
- Travel
City Guide: How to open a bank account in Thailand 2022
Opening a bank account in Thailand is important if you’re going to stay here for the long run. Expats frequently have trouble opening a bank account or are uninformed about the process. This’s where we come in… Having a Thai bank account can help you manage your finances more effectively, including sending and receiving money from overseas. Obviously, it’s necessary…
- Thailand News
Farmers sleep on the streets of Bangkok for 42 days calling for action on debt
Farmers from all over Thailand are sleeping under a busy expressway in Bangkok to call on the government to solve the problem of farmers’ debt. So far, the protestors have slept on the streets for 42 nights. The farmers request that their debt be transferred from central government banks, which charge high interest rates, to the Farmers’ Rehabilitation and Development…
- Thailand News
Say goodbye to your PayPal account from March 7, services to relaunch in Thailand
Got a PayPal account? Withdraw your remaining balance into your bank account. PayPal is relaunching its services in Thailand. Starting next month, customers in the country will not be able to use their PayPal wallets to shop online. They will also not be able to make a new account until further notice. Casual sellers and entrepreneurs of non-registered businesses will…
- World News
Citi to sell consumer banking business in Southeast Asia to Singapore’s United Overseas Bank
Citigroup announced on Thursday its agreement to sell its consumer banking operations in Thailand, Malaysia, Indonesia and Vietnam to United Overseas Bank (UOB) for approximately US$2.97 billion. UOB stated that as part of the agreement, it will acquire Citi’s retail deposit divisions, loan portfolios and wealth management, in the four countries’ consumer banking sectors. “We are excited to announce this…
- Crime News
Huge pyramid scheme and scam uncovered involving 1000s of people | VIDEO
Tens of thousands of people across Thailand woke up over the past 24 hours that they have been victims of a dodgy online money-making app concocted by the “SPM Shopping Mall” through the website www.shopping.baironghj.com This is roughly how it works… Victims would transfer money to to a Thai account… all online. The app promised returns of up to a…
- Pattaya News
UPDATE: “Hundreds” of investors caught in alleged Kasikorn Bank branch fraud in Pattaya
CORRECTION: In an earlier story about this case we referred to a Chinese man losing 130 BILLION baht in the scheme. The amount was actually 130 MILLION baht. We apologise for the error. Hundreds, perhaps more than 400, investors have been allegedly defrauded by an assistant bank manager at a Kasikorn bank branch in Pattaya. The assistant manager, named in…
- Crime News
Man arrested for allegedly robbing 500,000 baht from Bangkok bank
Police arrested a man for alleged armed robbery at a Government Housing Bank in Bangkok. 46 year old Phaiboon Sara allegedly used a gun to threaten bank tellers and take off with 500,000 baht in cash. Police reviewed the bank’s security camera footage and tracked down Phaiboon, arresting him at his home in Samut Prakan. Phaiboon allegedly told police that…
- Crime News
Nakhon Phanom couple “rob” bank
A man and wife in Nakhon Pathom, just west of Bangkok, were arrested yesterday for allegedly robbing a bank there. Police in the downtown district were informed in the morning that the local Government Savings Bank branch had been robbed, and arrived to find shattered windows and glass on the floor. Witnesses told police they’d seen the couple walk into…
- Covid-19 News
“Thailand’s economy will take 2-3 years to recover” – Krungthai
Across the world the hopes of a quick recovery in countries’ economies evaporate as the effects of either the coronavirus, or the effects of the lockdowns, drag on. Even though Thailand has effectively contained Covid-19 at this stage with zero local transmissions for over 2 months, the economy is now stumbling with many businesses shuttered and no tourists coming into…
- Covid-19 News
Standard Chartered Bank forecasts 2 year economic recovery for Thailand
Standard Chartered Bank says that it remains conservative on Thailand’s economic outlook, even though signs are emerging with the possibility of a further policy rate cut to below 0.25%. Their latest report forecasts a return to pre-Covid levels could take more than 2 years depending on improving business sentiment as the economy reopens, noting that the government has been disbursing…
- Economy News
Thailand’s economic forecast among Asia’s worst: central bank governor to step down
The governor of the Bank of Thailand will step down when his term ends in September. Veerathai Santiprabhob announced yesterday that he has decided against seeking a second 5 year term for “family reasons.” His departure comes as Thailand sees its economy contracting as much as 6% this year, mostly as a result of the impacts of lockdown provisions to…
- Northern Thailand News
Robbers stole 1.05 million baht in cash from a Chiang Rai bank
Today at 10am Police in Chiang Saen district Chiang Rai (which borders Myanmar and Laos on the so-called Golden Triangle), were notified that a pair of robbers had stolen 1.05 million baht from the local Krungthai Bank. Police authorities are currently chasing down the 2 suspects who pulled off the daring daylight robbery on the bank. Both suspects were dressed in…
- 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…
- Covid-19 News
Thai family of three are focus of local coronavirus outbreak in northern Bangkok
UPDATE Three worrying new Thailand coronavirus cases are being reported as coming from the same family. A 65 year old man, the grandfather in the family, had returned from Japan with his wife but didn’t disclose his situation or travel history to health workers when he took himself to hospital with a fever. The grandfather tested positive and his workplace,…
- Crime News
Bank rolls over after security footage captures employee stealing money
Look up before you steal money in a bank. There’s probably going to be a security camera. A female bank employee has been caught red-handed stealing 10,000 baht of an elderly customer’s savings. CCTV at the bank shows the moment when the teller stole the elderly man’s savings. The daughter of the victim shared the video online for everyone to…
- Crime News
Thai bank employee caught stealing customers’ cash
PHOTOS: kapook.com A video has been shared showing a female bank employee walking behind the bank’s reception and, allegedly, emptying the contents of a yellow basket into her pocket. She was carrying yellow basket and looked into the basket before quickly grabbing the cash and stuffing it into her suit pocket before going into another room through the white door. The…
- Business News
Board of Trade want Bank of Thailand to urgently address the baht
PHOTOS & GRAPHIC: The Nation The Board of Trade are meeting with the Bank of Thailand tomorrow (August 8) to discuss the value of the Thai baht, its appreciation against the US dollar and Chinese yuan, and the impact on the country’s exports. Sanan Angubolkul, the Board of Trade’s vice chairman, speaking to The Nation, says the baht has appreciated around…
