Bangkok, July 14 – The Governor of the Bank of Thailand requests cooperation from "bankers" to solve household debt. Emphasizes that Thai finances are stable – working well The overall picture is still confident that the investment has not been affected much.

Mr. Sethaput Suthiwart-Narueput The Governor of the Bank of Thailand (BOT) revealed at the prestigious 'Money & Banking Awards 2023' that if looking back what we go through come quite a lot, such as the situation of the COVID-19 epidemic Russo-Ukrainian War The inflation rate has increased considerably. Problems with foreign financial institutions and raising interest rates around the world simultaneously We are at a high level that we haven't seen in a long time. However, we have been able to get through them quite well. by the part that made us get through because of the financial system money market and capital market that is both stable and able to work (function) well

Mr. Sethaput said that reflects that the Thai financial system is stable and performs well, such as the number of bad debts (NPL), which was before the outbreak of COVID-19. Bad debt was at 3% and increased to 3% than during that COVID period. Bad debt has now dropped below 3%, while the BIS ratio (capital adequacy ratio) of the commercial banking system used to be at 19% in the pre-COVID period. And some declines during COVID, but in the end, the BIS ratio returned to a strong level of 19% and lending continued to expand.

“It's not just about stability, the function (working) of a good financial system. Help us get through the crisis well. For example, the operation of the credit process is still normal. because as you know when the economy slows down The rate of loan growth will slow down. But during COVID and during difficult times Although the GDP is not growing well But we have seen loan growth during 2020-21 at a high level compared to the past. and high compared to our neighbours. Including seeing a high level of help in taking care of debtors all these people reflects good collaboration to face various obstacles that we met in the past

Mr. Sethaput said that when looking ahead Financial disasters will be with us for a long time. which in the past The BOT has worked with financial institutions in issuing various measures. But as financial hazards evolve over time, and not standing still Therefore, it is necessary to take additional measures. and working together still exists In addition, there is another problem that must be jointly solved, which is the high level of household debt.

“Another problem that is with us and needs to be solved is the high level of household debt. which is a challenge but i believe Just like in the past we worked together very well. If we continue to work together We will continue to solve and overcome these obstacles,” Mr. Sethaput told senior executives of various financial institutions. who attended the 'Money & Banking Awards 2023' honor ceremony on July 14, 2023

In this regard, Mr. Withai Rattanakorn, director of the Government Savings Bank Received the financier of the year award 2022, Siam Commercial Bank Bank of the Year 2023 Best Company of the Year 2023 The Stock Exchange of Thailand-Banpu Public Company Limited/The Market for Alternative Investment (mai)-Exotic Food Public Company Limited, while Kasikorn Securities dominates securities companies. Best of the Year 2023 with 10 Best Funds of the Year 2023 and 21 Best Beautiful Booth Awards Money Expo 2023

Ms. Chayawadee Chai-anan Assistant Governor The Corporate Relations Division and the BOT spokesman said that the current political situation is difficult to assess. because there is still high uncertainty In particular, I still do not know how to get the Prime Minister. and when can the government be formed Now, we must follow the vote for the 2nd round of prime minister on July 19. Will this be successfully completed or not? Which the delay will affect the disbursement of the government budget for the year 2024, in terms of regular expenditures, there is still a central budget that can be used while operating. may not be very jammed But it will affect the disbursement of the investment budget for large projects. Including that new investment projects cannot be formed, but in terms of investment confidence has not been affected much. because looking at the preliminary data, it still found that there was still confidence which from the comparison in the past whether there is political turmoil There are protests in various situations. It didn't make the Thai economy much affected. Except if there is a protracted violence until economic activities had to be halted

However, in the past The BOT has assessed the Thai economic outlook from many factors. In the case of how it will affect, which currently the BOT expects the Thai economy to grow 3.6% in 2023 and grow to 3.8% in 2024. – Thai News Agency

Source: Thai News Agency