Siam Commercial Bank
- Thailand News
SCB predicts Bank of Thailand to lower rates by 0.25%
Siam Commercial Bank (SCB) anticipates the Bank of Thailand (BoT) will initiate a series of policy rate cuts starting later this year, potentially continuing into early next year. This move is expected to trigger a reduction in interest rates across the banking sector. SCB’s Chief Executive Kris Chantanotoke predicts the central bank’s Monetary Policy Committee will reduce the policy rate…
- Business News
SCB X Plc set to acquire Home Credit’s Vietnamese operations
Thailand’s largest bank by market value, SCB X Plc, is reportedly on the brink of securing a deal to acquire the Vietnamese operations of consumer lender, Home Credit. The transaction, which could be worth up to US$900 million, is expected to be announced within the week, say sources familiar with the proceedings who wish to remain anonymous due to the…
- World News
Myanmar strongman’s kids’ assets found in Bangkok drugs raid
Assets belonging to the children of Myanmar’s junta chief Min Aung Hlaing have been found in a Bangkok condominium. Documents were discovered during a September raid on the apartment of a Myanmar arms dealer charged with drug trafficking and money laundering. According to Bangkok Post, the assets found in Bangkok at the home of Tun Min Latt when he was…
- Economy News
SCB-Bitkub deal fizzles as young investors lose big on crypto
As the crypto market cools and young, naïve investors lose big, the deal for Siam Commercial Bank Group (SCB) to acquire a majority stake in Thai digital asset exchange Bitkub Online has fallen apart. The deal, announced in November of last year, pushed Bitkub Online’s value over US$1 billion and drove the company’s cryptocurrency to triple in value overnight. SCB’s…
- Economy News
Bank of Thailand plans real-world test of digital currency in 2022
The Bank of Thailand recently announced plans to do some real-world testing of digital currency in the near future as the popularity of cryptocurrency continues to grow. They plan to test their Central Bank Digital Currency in a real-world environment sometime in the second quarter of 2022. The BOT has been studying the CBDC since 2018 and is aware that…
- 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…
- Crime News
Siam Commercial Bank issues warning to customers after mobile app scam
Siam Commercial Bank has posted a statement on its Facebook page, urging customers to beware of phishing attempts via text message. The warning comes after the arrest of 3 Chinese nationals accused of sending messages to SCB customers advising them to update their details. Customers were then taken to a fake platform and asked to input their ID card number,…
- Crime News
3 Chinese nationals arrested in Bangkok over banking app fraud
Immigration Police have arrested 3 Chinese nationals accused of a phishing scam involving the Siam Commercial Bank mobile app. The men all entered Thailand illegally and are accused of defrauding SCB customers by conning them into providing their personal data and passwords. Sompong Chingduang, chief of the Immigration Police, says Yong Hua and Yue Dian were arrested at a property…
- 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 Protest News
An explosion and gunshots fired at last night’s protest outside the Siam Commercial Bank HQ
More reports of shootings at anti-government protests last night. The venue for yesterday’s rally was switched on Tuesday night and police, all prepared for a large protest outside the the Crown Property Office, were thin on the ground at the new venue. 2 people were injured in last night’s incident. Shots were reportedly fired at anti-government protesters at the end…
- 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…
- Thailand Protest News
Location of Bangkok rally changed from Crown Property Bureau to Siam Commercial Bank headquarters
Protest leaders from the United Front for Thammasat and Demonstration and the Free Youth Movement have confirmed that the location of today’s planned rally in Bangkok has been changed to the headquarters of Siam Commercial Bank. The protest had been due to take place at the Crown Property Bureau at 3.00pm. SCB is a Thai bank that was set up…
- Covid-19 News
Thai banks cut lending rates to ease Covid-19 fallout
Today the Bank of Thailand, in a joint effort with the Financial Institutions Development Fund, eased debt repayment requirements, in bid to help people affected by the Covid-19 virus who are unable to pay monthly minimums. Kasikornbank (KBank) and Siam Commercial Bank (SCB) are also planning to reduce their prime lending rates by 40 basis points. The KBank co-president Predee Daochai…
- Covid-19 News
Thai banks report they can handle the impacts of the virus
As the Covid-19 coronavirus continues to spread in Thailand, authorities have temporarily shut off shopping malls, entertainment and sporting venues while allowing food stalls and restaurants to open, but only for take-out and delivery services. The measures have led to social disruption, unemployment, leave without pay and salary cuts. However, a senior official at the Bank of Thailand reports, “Thailand’s…
- Covid-19 News
Bank employee tests positive for coronavirus
“The employee is now in hospital and his last day at work was March 23.” Siam Commerial Bank has announced that one of its temporary employees tested positive for Covid-19 coronavirus. A spokesman says that the employee worked on the 20th floor of Ari Hill Building on Phaholyothin Road in Bangkok. After notifying the Ministry of Public Health and the…
