SCB
- Thailand News
SCB denies UN claims of aiding Myanmar military transactions
Siam Commercial Bank (SCB) firmly denied any involvement in irregular transactions with Myanmar, challenging claims made in a recent United Nations report concerning the bank’s alleged role in financing military procurement. Tom Andrews, the UN special rapporteur on human rights in Myanmar, released a report this week detailing how Myanmar’s military regime continues to acquire weapons used against civilians. The…
- Economy News
CardX braces for regulatory change raising customer debt repayment 3%
CardX, a credit card service provider operating under SCB X Group, anticipates a potential issue with customer compliance linked to an upcoming regulatory change from the Bank of Thailand. The central bank presently permits credit card users to repay their debt at a minimum rate of 5% of the overall credit balance each month, a measure introduced to aid consumers…
- Business News
Virtual banking: SCB X and KakaoBank join forces for Thai licence bid
A consortium led by financial technology conglomerate SCB X is partnering with South Korea’s KakaoBank to apply for a virtual banking licence from the Bank of Thailand. SCB X, a holding company of Siam Commercial Bank, signed the agreement with KakaoBank, with the aim of bringing additional partners on board to improve competitiveness. Arthid Nanthawithaya, chief executive of SCB X,…
- Business News
SCB-Julius Baer launches 45 Academia programme for Thai business heirs
In Thailand, there’s a new academic programme for business heirs. SCB-Julius Baer Securities, a joint venture between Siam Commercial Bank and Julius Baer, has introduced The 45 Academia programme as part of its New Wave of Wealth strategy. This initiative aims to nurture the future leaders of wealth management by offering comprehensive training for business heirs in Thailand. The 45…
- 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…
- Economy News
Bitkub company and crypto-coin value surges as SCB buys 51% of shares
Cryptocurrencies just got a big boost in Thailand as Siam Commercial Bank Group’s parent company SCBX struck a deal to take over 51% of shares of Bitkub from its parent company Bitkub Capital Group Holdings, a deal valued at 17.85 billion baht. SCB Securities will hold the shares and collaborate with Bitkub to create a national infrastructure with a digital…
- Crime News
3 men arrested for allegedly stealing more than 700,000 baht from an ATM machine
Thai police arrested 3 men who allegedly broke open an ATM and ran off with more than 700,000 baht in cash. The men allegedly used a gas torch to melt and cut through the metal of a Siam Commercial Bank ATM outside a CJ convenience store in Prachinburi. The men allegedly burned the keyhole and cut a square on the…
- Thailand News
Thai banks warn of cyber scams after surge in fraud
After a cyber scam surge involving Siam Commercial Bank earlier this month, police are warning the public of increased smartphone and call centre scams. Police say they are stepping up efforts to track down such criminals who have sent messages that ask for respondents to send their bank account information in an attempt to steal their money and identities. Since…
- Thailand News
Thailand News Today | Shots fired, the yellow ducks, “no coup” promise | November 26
Today’s news includes some live footage of the explosion and chaos at last night’s rally outside the Siam Commercial Bank building. Here we go with today’s Thailand news. An explosion and gunshots fired at last night’s protest outside the Siam Commercial Bank HQ There were reports of shootings and the throwing of an explosive device, caught on video at last…
- Thailand News
Thailand News Today | No vaccine, no flight, protest latest, smoking ban | November 25
The latest on today’s protests and the background as to why the protesters moved from the Crown Property Bureau. All on Wednesday’s Thailand News Today. Protesters flip the location of today’s protest. Counter protests planned. Protesters moved the location of today’s protests to the the headquarters of Siam Commercial Bank in Bangkok. When protesters heard about a counter rally to…
- South Thailand News
Ranong slot machine. ATM glitch gives customers 10 times more cash.
An ATM in southern Thailand turned into a very generous slot machine as lucky customers were getting 10 times the amount they had asked to withdrew. One person withdrew 2,700 baht, but the machine handed out 27,000. Another withdrew 1,200 baht and got 12,000. Some people filed a report and handed the money immediately over to Ranong police over the…
- 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…
- Business News
Thailand’s headline inflation surged over 1% in March
“The SCB Economics Intelligent Centre has revised down its forecast for average headline inflation in 2019 to 0.9% year on year, a slight decline from the previous forecast of 1.0%year on year.” Thailand’s headline inflation surged to 1.24%, year on year, during March. This is up from 0.73%, year on year, in the previous month. Food and energy prices are the…
- Thailand News
More educated Thais earn more – SCB study
More education = higher salary. Siam Commercial Bank’s Economic Intelligence Unit has released a report that shows the more education you have, the more salary you will earn. The SCB think tank’s research paper indicates that the relationship between education and salary is clear and simple; education counts when you apply for a job. Also, don’t underestimate the GPA (Grade Point…
