From The Report: Thailand 2016
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Thailand’s banking sector remained resilient in 2015 despite challenging macroeconomic conditions, including slowing demand in China and high levels of consumer debt. Loan growth continued, despite moderating from the double-digit highs of previous years, and loan capital improved even as the non-performing loan (NPL) ratio rose. Operating profits of banks simultaneously grew, although net profits declined due to increased provisioning. As of December 2015 there were 19 commercial banks, 12 full branch foreign banks, two finance companies and three credit foncier companies registered in Thailand. An increase in cross-border transactions has raised the potential for regional expansion of domestic banks, and a number of Thai financial institutions have announced plans to expand operations. This chapter contains interviews with Chartsiri Sophonpanich, President, Bangkok Bank; Teeranun Srihong, President, Kasikorn Bank; and Darren Buckley, Country Head, Citibank.