Banks

  • Business News

    Invest in foreign bonds, REITs, healthcare, and tech stocks for 2024, advises Tisco bank

    Tisco Bank’s Head of Wealth Advisory, Nattakrit Laotaweesap, advises investors to focus on foreign bonds, real estate investment trusts (REITs), and healthcare and technology stocks in the next year as a safeguard against potential downturns. The global economy’s pace is anticipated to decelerate next year due to the impact of tighter monetary policies, which could result in a potential downgrade…

  • Thailand News

    Thailand’s power play: Hosting mega IMF and World Bank meetings in 2026

    The Chief of the Fiscal Policy Office (FPO) unveiled Thailand‘s ambitious proposal to host the annual meetings of the International Monetary Fund (IMF) and World Bank in 2026. On October 15, the Finance Ministry, Bank of Thailand, and IMF and World Bank reps threw ink on a memorandum of understanding, sealing the deal for Thailand to reclaim its throne as…

  • World News

    Italian banks face US$10 billion loss as new tax rattles market

    An unforeseen tax on banks’ extraordinary profits, instigated by Italy’s conservative regime, has taken markets by surprise, causing an approximately US$10 billion decline in Italian lenders’ market value. The proclamation came late Monday night from Matteo Salvini, the Deputy Prime Minister, stating a 40% levy on excess gains from banks would be levied as part of a comprehensive decree ratified…

  • Business News

    TTB to tackle household debt and promote ESG standards

    Piti Tantakasem, Chief Executive of TMBThanachart Bank (ttb), insists that tackling high levels of household debt should be a priority on the national agenda. Piti made known that he is poised to tackle the issue, given his leading role within the household debt resolution team set up by the Thai Bankers’ Association (TBA). Alongside the central bank and other pertinent…

  • Business News

    Thai state banks raise interest rates after central bank policy hike

    Following the Bank of Thailand‘s recent policy rate increase, state banks, including the Government Savings Bank (GSB) and the Bank for Agriculture and Agricultural Cooperatives (BAAC), have raised interest rates for loans and deposits, with deposit rates exceeding loan rates. Vitai Ratanakorn, GSB’s president and chief executive, stated that after the central bank’s policy rate increased by a quarter percentage…

  • Business News

    Krungsri Auto targets 1/3 EV lending market share amid 203% growth forecast

    Krungsri Auto, a leading automotive finance company under the Bank of Ayudhya, is targeting a one-third market share in electric vehicle (EV) lending this year. The firm anticipates a 6% decline in new motorcycle sales, amounting to 1.7 million units, mainly due to a high base effect. Out of these, 30,000 units are expected to be electric motorcycles, an increase…

  • Business News

    Financial institutions step up to help mortgage customers amid rising interest rates

    Financial institutions are taking steps to assist mortgage customers in coping with increasing rates as Central Bank hikes impact floating mortgage interest rates. Thakorn Piyapan, president of TMBThanachart Bank (ttb), mentioned that the bank provided some mortgage clients with the option to raise their monthly debt repayment amount or prolong the loan period to alleviate the higher monthly debt burden…

  • Business News

    Thai Bankers’ Association considers new fee structure for industry

    The Thai Bankers’ Association (TBA), which represents the banking industry in the country, is contemplating the introduction of a new fee structure in response to increasing operating costs. Banks are planning to take into account expenses from traditional and digital banking services while finalising the updated fee structure. This will be done in conjunction with the Bank of Thailand. The…

  • Business News

    State banks offer higher deposit rates at Money Expo 2023

    State-owned banks in the country are eager to offer customers higher deposit rates, with one scheme providing up to 17%. At the 23rd Money Expo 2023, Government Savings Bank (GSB) and the Bank for Agriculture and Agricultural Cooperatives (BAAC) unveiled campaigns to attract patrons to open short-term deposits for three-to-five months by presenting step-up interest rates. Monetary Policy Committee members…

  • Business News

    Banking job boom and surging salaries in Saudi Arabia

    Despite ongoing global financial challenges, Saudi Arabia is experiencing a significant surge in banking jobs and salaries. This growth is attributed to the ambitious economic expansion plans by Crown Prince Mohammed Bin Salman, who is utilising oil sales revenue to transform the nation’s economy. With over US$600 billion worth of assets, Saudi Arabia’s Public Investment Fund is hiring swiftly, attracting…

  • World News

    JPMorgan Chase swoops in to buy US crisis bank First Republic

    US financial authorities seized California’s struggling First Republic Bank on Monday and sold it to JPMorgan Chase, hoping to bring stability to a banking crisis that has rattled the financial system. First Republic, following the disclosure of a loss of over US$100 billion in deposits in the first quarter, became the second-largest bank by assets to collapse in US history.…

  • World News

    Banks deny wrongdoing in Jeffrey Epstein lawsuit

    Two major banks are denying any legal responsibilities in Jeffrey Epstein’s sex trafficking after two victims filed lawsuits against them. American bank JPMorgan Chase and German-based Deutsche Bank requested that the federal court drops the suit that claims the banks should have known of Epstein’s illegal sexual escapades and therefore bear some responsibility for the abuse that occurred. Epstein was…

  • 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 video news

    Thailand News Update | Thai suicide rate skyrocketed during pandemic

    On Saturday, Thailand’s Department of Mental Health has reported the drastic impact of Covid-19 on mental health, with its director-general revealing that the suicide rate in Thailand is 5.9 times what it was in pre-Covid days.The department’s data found that people are 2.1 times more likely to develop stress, and 4.8 times more likely to develop depression, than they were…

  • Technology News

    Digital literacy a must for bank card holders after recent cyber fraud incident

    In light of the recent cyber fraud incident, in which 40,000 people were victimised in Thailand, a cybersecurity expert is emphasizing the need for digital literacy. Prinya Hom-anek, president of the ACIS Professional Centre, an IT security consulting service, says bank card holders are the most vulnerable in the payment ecosystem. This vulnerability sees criminals targetting the group first, as…

  • Crime News

    Banks confirm refunds to recent cyber fraud victims

    After the recent cyber fraud scam that affected at least 40,000 individuals in Thailand, banks are now confirming that they will refund money to such victims. The scam saw small amounts of online withdrawals through hacking users’ debit and/or credit card information. Payong Srivanich, chairman of the Thai Bankers’ Association, says banks will pay back money to the victims of…

  • Economy News

    Thai household debt expected to keep rising- Kasikorn Research

    Despite rolling out Covid-19 vaccines, in which could see a faster return to pre-Covid times, Thailand’s household debt is expected to keep rising. Kasikorn Research analysts say it could, in fact, reach 89-91% by the end of the year. In a recent survey, KResearch says 10.8% of respondents could be stuck in a financial crisis. Of those who may be…

  • World News

    UPDATE: Burmese Coup: Myanmar’s banks told to close “because of internet problems”

    All Burmese bank branches have been closed across Myanmar today after the bloodless military coup this morning. The Burmese army have declared a state of emergency for the next 12 months and have arrested and detained de facto civilian leader Aung San Suu Kyi, along with other National League for Democracy politicians. The country’s banking association made an announcement this…

  • Thailand News

    Thailand News Today | Visa amnesty, sealing Burmese border, Thai airways creditors | September 24

    Latest update for September 26 deadline of visa amnesty. Deadline set for THAI creditors A date has now been set for creditors to recover their money from Thai Airways. Applications for debt repayment through corporate bonds started yesterday. Applications filed by private individuals are being received at the Securities and Exchange Commission office in Bangkok. The deadline for applications is…

  • Thailand video news

    Thailand News Today | Surachet sues, The Nude Panda | September 23

    Daily TV News from The Thaiger Former immigration chief, “Big Joke” suing Thai PM over transfer The former head of Thai Immigration, and poster boy for Thai officialdom, Surachet Hakparn, is taking legal action against Thai PM Prayut Chan-o-cha, after the PM had him unceremoniously transferred to an inactive post last year. Surachet, commonly known by the nickname “Big Joke”,…

  • Covid-19 News

    Four major banks close branches for the weekend to prevent crowds

    Four of Thailand’s biggest commercial banks are closing all branches over the weekend to promote social distancing and fight the spread of the Covid-19. Kasikornbank, Siam Commercial Bank, Krungthai Bank and TMB-Thanachart Bank announced yesterday that they would close all branches nationwide today and tomorrow (Saturday and Sunday). Electronic services will remain available. Krungthai Bank’s announcement said the decision was…

  • Covid-19 News

    400 billion baht stimulus announced to boost Thai economy

    “The package will inject an estimated 400 billion baht into the economy in a bid to return growth to positive territory.” Yesterday’s Thai cabinet meeting gave the greenlight to a new stimulus package. The government expects the approved 400 billion baht to reduce the impact of the Covid-19 coronavirus outbreak. Last week’s 2,000 baht cash stimulus proposal, which was largely…

  • Business News

    SE Asian banks slowly giving way to e-payments and payment apps

    PHOTO: starbucks.com That cold, hard cash in your pocket, and the traditional shop-front banks that give it to you, are slowly being phased out and replaced with e-payments. It’s now expected that traditional banks in South east Asia will miss out on as much as US$5 billion, or 14.3% of their payments revenue by 2025. A report says they are…

  • Property

    Stricter controls and paperwork putting brakes on residential property market

    The honorary president of the Thai Housing Business Association, Atip Bijanonda, is tipping the local residential market may fall by up to 10% this year starved of economic confidence, the global economic slowdown and the loan-to-value limits. But he also believes the situation is far from the situation leading up to the 1997 economic collapse. The Greater Bangkok residential market…

  • Business News

    Bank of Thailand cuts policy rate, to 1.5%

    The Bank of Thailand’s Monetary Policy Committee has made a surprise decision today to cut the policy interest rate amid pressure to avert an economic slowdown and hedge the heightened trade war between the US and China. The MPC cut the interest rate by only 25 basis points to 1.5 %. But the cut is significant. Of the seven-member committee,…

  • Business News

    Moody’s upgrades most Thai banks’ credit ratings from ‘stable’ to ‘positive’

    Moody’s Investors Service upgraded the Baseline Credit Assessments of eleven Thai banks (1) Bangkok Bank Public Company Limited (BBL) (2) Bank of Ayudhya (BAY) (3) CIMB Thai Bank Public Company Limited (CIMBT) (4) Export-Import Bank of Thailand (EXIMT) (5) Government Housing Bank of Thailand (GHB) (6) KASIKORNBANK Public Company Limited (KBank) (7) Krung Thai Bank Public Company Limited (KTB) (8)…