Thai commercial banks strengthen their market positions –
The deputy governor of the Financial Educate Stability Bank of Thailand explained that Thai commercial banks handle financial problems well. Mr. Ronadon Numnon, affirms that the main positioned banks are strong and that they can handle the impact of the economic crisis caused by COVID 19. The banking system has a surplus as of 2020.
This was generally due to the rigid provisioning approach over a long period. After June 2020, the capital / risk ratio of trading money keeping the level reached 19.2% and execution is still winning. Expanding liquidity within the monetary system and the business environment for running an account is also exceptionally high.
A few months ago, Don Nakornthab, director of BOT’s economic and political department, said Thailand’s economy was better than expected in June and July. However, visitor entries should be lower than the 8 million initially forecast for this year. Indicating that there have been roughly 6.7 million admissions this year. “The recovery of the tourism segment should be postponed for another year,” Don said.
Thailand’s financial strength is now strong
Arrivals of foreigners in Thailand reached 40 million in 2019. Income generated by the tourism industry contributes nearly 20% of GDP. It was a big step forward for the country. “The BOT predicts that there will be 16 million tourists another year. This despite the fact that the Tourism and Sports Department has 12 million available as planned.
They also added that the government should consider examining the appropriate measures to allow distant travelers. Especially to return to mixing tourism and energy for financial development. Because if they won’t change anything. The economy will become more fragile over time.
So far, 27% of workers who have lost their jobs have applied for social security unemployment benefits, Don said. Thailand’s financial strength is now solid. But the negative inflation rate will be lower due to rising oil prices and economic recovery.
Some people are already considering negotiating and trying other ways to improve their financial situation. One of the most trusted and trusted is Forex trading. Forex trading is growing ubiquitously in Thailand. The volume of Forex traded in Thailand has been increasing year on year over the past five years.
Increased competition between brokerage houses
Across the world, US $ 5.1 trillion in volume is traded every day. Usually a colossal sum compared to other advertising sectors related to money. So almost everyone would like to be sure about their brokers and future inventions. Here is the list of Thai forex brokers which they find very useful.
Advances in online innovation, greater reach of the web in Thailand, and increased competition among brokerage houses have made Forex trading more available and reduced trading costs overall.
Expanding, by having commercial banks to assess their status and their operations under push tests, they found that all commercial banks had high levels of capital. Able to handle circumstances of extreme emergency As the government segment and the BOT quickly unloaded therapeutic measures.
Financial and monetary measures since the Covid-19 emergency have greatly mitigated the effect on individuals and businesses. And many individuals and businesses can still fulfill their obligation normally.
Assistance to commercial banks
Currently, the BOT and budget education work closely together. Speed up debtor assistance And speed up debt recovery to help the indebted person pay the obligation under current financial terms. This will provide assistance to commercial banks to proactively monitor credit quality.
The anticipation of the occurrence of horrible bonds has broadened considerably and can be a problem for the positions and operations of commercial banks. And for the stability of the Thai monetary system, the BOT urges people to ensure that Thai maintains an account.