20 Mar 2023
Financial Markets
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13 Mar 2023
7 Mar 2023
27 Feb 2023
21 Feb 2023
Financial Institutions
KResearch conducted a study on the effects of high household debt in Thailand and found results that are consistent with those of the Bank for International Settlement (BIS). As evidenced, increasing household debt has a positive impact on consumption in the short term, but will reduce the potential... Read more
20 Feb 2023
13 Feb 2023
6 Feb 2023
30 Jan 2023
The Baht moved within a narrow range before weakening at the end of the week while the SET rose over-week.... Read more
24 Jan 2023
First MPC meeting of the year January 25, 2023 MPC is expected to raise its policy rate in continuation from the previous year, by 0.25 percent to 1.50 percent ... Read more
16 Jan 2023
9 Jan 2023
2 Jan 2023
30 Dec 2022
KResearch is of the view that online payment among Thai consumers will likely see further expansion. In 2023, the share of payments via internet banking, mobile banking and e-money may reach 95 percent of total payment transactions. The volume is projected to be 36,510 - 37,970 million transactions,... Read more
26 Dec 2022
21 Dec 2022
In 2022, Thai banks have operated business amid numerous challenges. These include debt resolution for pandemic-stricken borrowers; change from broad-based measures issued by the policymakers in support of financial institutions which provide assistance to borrowers to specific measures which are gr... Read more
19 Dec 2022
12 Dec 2022
5 Dec 2022
28 Nov 2022
MPC meeting, Nov. 30, 2022 Policy likely to be raised by another 0.25% to 1.25% amid elevated inflationary pressures while economic recovery is on track ... Read more
24 Nov 2022
Fast approaching is the last month of 2022, a year in which Thailand’s economy has bottomed out following the years-long impacts of the COVID-19 pandemic. In principle, the economic recovery should be a supporting factor for investment in risk assets. In fact, however, overall investment has proven ... Read more
21 Nov 2022
The Monetary Policy Committee (MPC) began raising its policy rates at the August and September 2022 meetings by 0.25 percent each, bringing the current policy rate to 1.00 percent. However, most large commercial banks did not hike their interest rates immediately and waited until October 2022, parti... Read more
The Baht was volatile while the SET closed near last week’s level... Read more
16 Nov 2022
Thailand’s financial access rate is higher than most other APEC member economies, but there are challenges ahead ... Read more
14 Nov 2022
11 Nov 2022
The Baht strengthens…but close attention must be paid to volatility sparked by several factors, going forward ... Read more
7 Nov 2022
31 Oct 2022
24 Oct 2022
17 Oct 2022
Gradual post-lockdown economic recovery expected to support commercial banks’ income from core businesses in 3Q22…but close attention must be paid to economic uncertainty going forward ... Read more
10 Oct 2022
3 Oct 2022
Outstanding debt of Thai households rose to THB 14.76 trillion in 2Q22. However, when compared to economic value, the household debt to GDP ratio in 2Q22 dropped to 88.2 percent, against the 89.2 percent recorded for 1Q22. Additionally, when compared to the same period of last year, the household de... Read more
27 Sep 2022
The Monetary Policy Committee (MPC) is expected to raise its policy rate by 0.25 percent to 1.00 percent at its upcoming meeting amid increased inflationary pressure and steady depreciation of the Baht. As previously signaled, the MPC may gradually speed up its policy rate hikes amid the fragile rec... Read more
26 Sep 2022
21 Sep 2022
The Thai Baht recently tested the THB37.20/USD level, its new low in almost 16 years since October 2006, amid the US Federal Reserve (Fed)’s hawkish signals of further rate hikes. However, the Baht’s movements have been in alignment with the Yuan and other regional currencies since the beginning of ... Read more
19 Sep 2022
13 Sep 2022
KResearch views that digital personal loan market, according to the Bank of Thailand’s guidelines on the use of alternative data for credit analysis in loan approval process, is likely to see “gradual growth” for 2022. As evidenced, digital personal loan outstanding is at approximately THB 7.92-8.5 ... Read more
12 Sep 2022
5 Sep 2022
29 Aug 2022
8 Aug 2022
It is expected that the Monetary Policy Committee (MPC) will raise its policy rate by 0.25 percent to 0.75 percent at the upcoming meeting. Amid increased inflationary pressure and steady recovery seen in the Thai economy, the MPC may gradually speed up its policy rate hikes ahead. ... Read more
1 Aug 2022
27 Jul 2022
Impacts on the Thai banking system if banks defer interest rate increase ... Read more
26 Jul 2022
Sustainable finance has seen rapid growth worldwide. In 2021, sustainability debt instruments were valued at USD 929,700 million, or 10x growth over the past five years, while sustainability loans amounted to USD 716,561 million, or 7x growth from 2018. Meanwhile, Thailand’s total outstanding value ... Read more
Sustainable finance has seen rapid growth worldwide. In 2021, sustainability debt instruments were valued at USD 929,700 million, or 10x growth over the past five years, while sustainability loans amounted to USD 716,561 million, or 7x growth from 2018. ... Read more
25 Jul 2022
18 Jul 2022
15 Jul 2022
We at KResearch assess that core business income of commercial banks in Thailand remained weak during 2Q22. Particularly, their non-interest income was pressured by murky economic conditions, while volatility in the capital market also hurt their investment portfolios. However, net interest income a... Read more
11 Jul 2022
4 Jul 2022
27 Jun 2022
20 Jun 2022
17 Jun 2022
KResearch assesses that used car loans in the commercial banking system in 2022 are projected to rise to 5-7 percent of total used car loans, approximately THB 300 billion, thanks to the pricing factor as reflected by the Used Vehicle Price Index (UVPI) and intense competition among commercial banks... Read more
13 Jun 2022
KResearch assesses that monetary policy tightening attempts by the US Federal Reserve (Fed) and other leading central banks in the West and Asia (with the exception of the People’s Bank of China and Bank of Japan) will become more consistent during 2H22. Central banks that are expected to raise thei... Read more
6 Jun 2022
2 Jun 2022
It is expected that the Monetary Policy Committee (MPC) will keep its policy rate steady at 0.50 percent at the upcoming MPC meeting, with the aim of supporting the economy that has yet to fully recover. However, the MPC will continue to experience more challenges in maintaining its accommodative mo... Read more
30 May 2022
23 May 2022
16 May 2022
9 May 2022
2 May 2022
25 Apr 2022
18 Apr 2022
11 Apr 2022
4 Apr 2022
1 Apr 2022
Outstanding debt of Thai households grew 3.9 percent in 2021, which was on par with that reported for 2020. Due to the slow economic growth, the household debt to GDP ratio in 2021 surged to 90.1 percent, against the 89.7 percent recorded for 2020. The high household debt to GDP ratio is one of the ... Read more
28 Mar 2022
24 Mar 2022
Auto title loan saw high growth amid the COVID-19 crisis. The number of loan accounts increased by around 50 percent to 4.20 million accounts, with total outstanding loan rising 45 percent to a total of THB181 billion at the end of 2021, compared to the end of 2019. Meanwhile, non-performing loans ... Read more
14 Mar 2022
7 Mar 2022
28 Feb 2022
24 Feb 2022
Life insurance business saw a slight positive turn in 2021, after undergoing a contraction for two consecutive years. This growth can be attributed to increased sales of new insurance policies, particularly single-premium life insurance, while renewal year premium has shown no growth. ... Read more
21 Feb 2022
11 Feb 2022
7 Feb 2022
4 Feb 2022
28 Jan 2022
21 Jan 2022
14 Jan 2022
7 Jan 2022
30 Dec 2021
The latest report on household lending shows that Thai households continue to incur more debts, albeit at a slower pace in line with economic conditions that are being affected by the COVID-19 pandemic. In 3Q21, outstanding household debts stood at THB14.35 trillion, an increase of approximately 4.2... Read more
24 Dec 2021
23 Dec 2021
Uncertainties surrounding COVID-19 are resurfacing during the transition towards 2022 and will not only affect the pace of Thai economic recovery, but also the commercial banking business over the course of next year. If Thailand can effectively control the Omicron variant of COVID-19, commercial ba... Read more
17 Dec 2021
10 Dec 2021
3 Dec 2021
26 Nov 2021
16 Nov 2021
5 Nov 2021
The Baht weakened against the US dollar during the first week of November. The Baht moved in line with foreign fund flows into the Thai stock and bond markets ahead of the FOMC meeting. However, it weakened later along other regional currencies, as the US dollar rebounded on strong US labor market r... Read more
KResearch assesses that the Monetary Policy Committee (MPC) will keep its policy rate steady at 0.50 percent in the meeting slated for November 10, 2021, in light of positive economic factors that stem from Thailand’s reopening and continuous easing of lockdown measures. These have benefited the re... Read more
29 Oct 2021
The Baht moved in a volatile range but strengthened against the US Dollar. The Baht rose early in the week in line with net foreign bond buying orders, while the US Dollar lacked momentum after the US treasury yield slipped below 1.60%. However, the Baht weakened briefly around midweek in line with ... Read more
22 Oct 2021
On October 21, 2021, the Bank of Thailand (BOT) announced the relaxation of rules for home loan and top-up loan by temporarily lifting the loan-to-value (LTV) ratio to 100 percent, from now until the end of 2022. KResearch views that this relaxation of LTV regulations will help to increase homebuyer... Read more
21 Oct 2021
The Baht moved within a tight range but weakened slightly against the US dollar. The Baht fell on USD buying orders from importers, while the US dollar gained on the rising US treasury yields. The 10-year US bond yield hit a 5-month high of 1.67%. However, the Baht’s losses were capped somewhat by n... Read more
19 Oct 2021
The Baht resumed the appreciation trend. It hit its highest level in 3 weeks ofTHB33.16/USD, supported by news that the Thai government would continue its reopening plan, plus net foreign stock and bond buying orders. Meanwhile, the US Dollar weakened in line with the decline in 10-year US treasury ... Read more
KResearch expects that net profits of domestically-registered commercial banks will reach THB32.5-33.5 billion in 3Q21, declining from the THB57.2 billion reported for 2Q21 because the resurgence of COVID-19 in early 3Q21 may dent their core business income, particularly fees and service income, thu... Read more
8 Oct 2021
The Baht hit a new 4-year low of THB33.99/USD during the week of Oct 4-8. The Baht fell in line with other regional currencies, as the US dollar rose along with US treasury yields, boosted by stronger-than-expected US ISM Services Index, ADP employment and Jobless Claims reports. The US dollar also ... Read more
1 Oct 2021
The Baht hit a 4-year low of THB33.97/USD before rebounding somewhat later in the week. The Baht fell on USD-buying orders at the quarter-end and net foreign selling orders in the Thai bond market. Meanwhile, the US dollar rose along with expectations that the Fed would exit its extraordinarily easi... Read more
According to the Bank of Thailand (BOT)’s latest report on loans extended to households in 2Q21, outstanding household debt increased to THB14.27 trillion, amounting to 89.3 percent of GDP. That figure represents a decline from the 90.6 percent of GDP, its highest in 18 years, reported for 1Q21, bec... Read more