Bangkok Thailand
No Result
View All Result
Thursday, February 25, 2021
  • Home
  • Visit Bangkok
  • Places to see
  • Living in Bangkok
  • Working in Thailand
  • Buying Property
Bangkok Thailand
  • Home
  • Visit Bangkok
  • Places to see
  • Living in Bangkok
  • Working in Thailand
  • Buying Property
No Result
View All Result
Bangkok Thailand
No Result
View All Result
Home Living in Bangkok

BoT: Thai deposits woefully meagre

by Bangkok News
February 17, 2020
in Living in Bangkok
0
deposits
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter
According to Bank of Thailand research, savings accounts are far more popular than fixed deposits.
Based on Financial institution of Thailand analysis, financial savings accounts are much more in style than fastened deposits.

One-third of Thai depositors have a deposit steadiness beneath 500 baht, whereas the mixed deposits of the most important 10% of depositors account for 93% of economic banks’ whole deposits, says the Financial institution of Thailand’s assume tank.

This implies a excessive focus of deposits and low financial savings for a lot of Thais, in line with the Puey Ungphakorn Institute for Financial Analysis (Pier).

Financial savings accounts are ubiquitous within the nation, as half of the Thai inhabitants have deposit accounts at industrial banks, however 50% of them have a steadiness beneath three,124 baht and one-third have a steadiness beneath 500 baht. Some zero.2% have deposits of greater than 10 million, mentioned Atchana Lamsam, head of networking and communications for Pier.

The findings come from a statistical evaluation of knowledge from the Deposit Safety Company (DPA) as of June 2017.

There have been 37.9 million depositors who parked cash in 80.2 million industrial financial institution deposit accounts, totalling 12 trillion baht, or 72% of the nation’s whole deposits.

The highest 10% of depositors had their cash concentrated in huge cities, together with Bangkok and neighborhood, Chon Buri, Chiang Mai, Nakhon Ratchasima and Songkhla, she mentioned.

Based on a breakdown by intercourse, females had extra deposit accounts than males, and their deposit quantities have been double that of the alternative intercourse.

This means that ladies have higher monetary self-discipline or administration abilities, they usually play an essential position in managing family cash, Ms Atchana mentioned.

The research discovered 88% of depositors put cash in financial savings accounts, which yield decrease returns than fastened deposit accounts. Depositors most well-liked depositing cash at giant industrial banks.

Furthermore, half of depositors had just one account.

Financial savings accounts have been the preferred amongst individuals from all walks of life, with 93.three% of depositors’ portfolio being allotted there, whereas 6.three% have been in fastened deposits.

The research additionally discovered that fastened deposit accounts have been in style amongst retirees.

These dwelling in Higher Bangkok had the very best variety of deposit accounts, whereas these within the South had the least, Ms Atchana mentioned.

These residing within the Northeast had the bottom quantity of deposits in accounts.

She mentioned one discovering from the research is Thais’ financial savings behaviour is worrisome, given the excessive focus in deposits among the many rich and low financial savings and deposit quantities in accounts that supply low returns.

A coverage to encourage financial savings ought to concentrate on consciousness and understanding of the significance of financial savings, not simply selling entry to deposit companies, Ms Atchana mentioned.

Source link

Pan Seared Scallops
  • Trending
  • Comments
  • Latest
Mark Dacascos

How Star Mark Dacascos Got His Wife and Daughter Roles

March 4, 2020
Thai slaughterhouse

Screaming pig clubbed to death Thai slaughterhouse

February 18, 2020
Truck driver Michael Knowler granted bail

Kingston double fatality: Truck driver Michael Knowler granted bail

February 12, 2020
Private Pool

The Sky Suites at the Rosewood Bangkok Come With Private Pools

February 21, 2020
Bangkok

Bangkok 20th on expat city list

1
Bangkok plummets in popularity

Bangkok plummets in popularity with expats. Taipei heads the list.

1
Thailand morning news for November 11, 2019

Thailand morning news for November 11, 2019

0
Neil Lennon quits as Celtic boss after horror season

Neil Lennon quits as Celtic boss after horror season

0
Neil Lennon quits as Celtic boss after horror season

Neil Lennon quits as Celtic boss after horror season

February 24, 2021
Costa Mesa historian Art Goddard remembered as ‘lovable’ and ‘very bright’

Costa Mesa historian Art Goddard remembered as ‘lovable’ and ‘very bright’

February 24, 2021
FDA wants cannabis put on its list of essential medicines

FDA wants cannabis put on its list of essential medicines

February 23, 2021
India’s endangered lion prides conquer disease to roam free

India’s endangered lion prides conquer disease to roam free

February 23, 2021
Thailand Bangkok

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Recent News

Neil Lennon quits as Celtic boss after horror season

Neil Lennon quits as Celtic boss after horror season

February 24, 2021
Costa Mesa historian Art Goddard remembered as ‘lovable’ and ‘very bright’

Costa Mesa historian Art Goddard remembered as ‘lovable’ and ‘very bright’

February 24, 2021

Categories

  • Buying Property
  • Living in Bangkok
  • Places to see
  • Visit Bangkok
  • Working in Thailand

Site Navigation

  • Home
  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links
December 2019
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Nov   Jan »
No Result
View All Result
  • Advertisement
  • Contact Us
  • Homepages
    • Home 1
    • Home 2
    • Home 3
    • Home 4
    • Home 5

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.