Thailand Banking Sector Report 2023-2024

Thailand's financial services industry, which includes insurance activities, accounted for 8.28% of the nation's GDP in 2022, marginally lower than its share of 8.32% in 2021. The sector employed 514,320 people in 2022 (3.4% more than the previous year), which came to about 1.3% of the total employment in the country. As per the National Economic and Social Development Council (NESDC), in 2022 financial and insurance activities grew by 0.9% y/y, which was slower than the GDP growth of 2.6% y/y. In contrast, in 2021 the sector grew by 5.5% y/y, which was much higher than the GDP growth of 1.5% y/y in 2021. The banking system remains on a solid footing on the back of strong capital and liquidity buffers coupled with high provisioning. In 2022, the sector reported an improvement in NIMs and a healthy growth of 30.4% y/y in net profit to THB 236bn. However, while NPAs in the banking sector remain moderate, the high household debt to GDP ratio, the fragility of the economic recovery, and rising interest rates can cause restructured loans to slip into NPAs.

This report provides a complete and detailed analysis of the "Banking" sector for Thailand. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the "Banking" sector in Thailand
• Crystallise the forces both driving and restraining this sector in Thailand
• Ascertain Thailand’s position in the global sector
• Build a complete perspective on sector trade, investment and employment
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in Thailand.
• Build a clear picture of trends, output and consumption for specific sub-sectors