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Major Banker Says Most Thais Have Financial Concerns


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On September 25th, 2023, Mr. Yuthchai Tayaratchakul, Executive Vice President of United Overseas Bank (UOB), gave a statement on a recent report on the ASEAN Consumer Sentiment Study (ACSS).

 

The report presented a significant insight into citizens and business sectors in current economic circumstances from 5 countries in ASEAN: Singapore, Malaysia, Indonesia, Vietnam, and Thailand.


The top three financial concerns of the respondents are rising inflation, household expenses, and shrinking savings, respectively. Given these concerns, Thais tend to focus more on prudent spending. They are also gravitating towards investing via digital banking platforms, the study showed.

 

By Kittisak Phalaharn

 

Full story: THE PATTAYA NEWS 2023-09-27

 

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36 minutes ago, sidneybear said:

And lots of credit cards getting maxed out.

But with the minimum repayment due to rise from, just 5% to to 8%, NPL and many other forms of Debt will be out of control

Already this Year NPL has risen by a whopping 30+% on vehicle Loans

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16 hours ago, Cake Monster said:

But with the minimum repayment due to rise from, just 5% to to 8%, NPL and many other forms of Debt will be out of control

Already this Year NPL has risen by a whopping 30+% on vehicle Loans

Minimum credit card repayments were increased to 10% a few years back. Belts will have to be tightened though.

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