Is Your Thai Bank Stable? Is It And Safe?

[junkofdavid2]

Check your bank's ratings here:

http://www2.standardandpoors.com/portal/si...0,0,50,0,0.html

You will notice that the bank has 2 types of ratings:

1) BFSR Rating- Means "Bank's Fundamental Strength Rating", which refers to overall strength of the bank. Highest is "A" followed by B, C, D, and E.

2) ICR Rating - Means "Issue Credit Rating", referring to a specific financial obligation/debt. Highest is AAA followed by AA,A,BBB,BB,B,CCC,CC, and C.

For more info about the definitions of these ratings:

http://www2.standardandpoors.com/portal/si...639.html#ID1461

Hope this helps!

P.S. Sorry for the grammatical error in the title...

Edited November 7, 2007 by junkofdavid2

[junkofdavid2]

I think this is a much more objective way of assessing bank strength, stability, and safety than the usual following criteria:

1) My friend said she thinks it's a safe Thai bank and she would know "because she's Thai".

2) The staff speaks good English.

3) Staff also has neat, professional looking uniforms. (Well starched in fact!)

4) The very "businesslike" logo, office architecture, and interior design of the bank creates a very serious atmosphere which proves that they're "professional".

5) The directors of the bank appear in hi-so magazines, and they are well-dressed and their faces look credible to me!

6) I see their logo/branches/ATMs a lot. (Psychologically, seeing the logo often makes me "comfortable" with them and makes them seem "safe".)

7) Any other usual "criteria"?

What makes me most concerned is that Thailand's perceived biggest bank, Bangkok Bank, only got a grade of "C" in the BFSR rating and yet, it's still one of the highest among the Thailand banks. In contrast, popular Malaysian bank Maybank (i.e. Malayan Bank) scored well with a "B".

Edited November 10, 2007 by junkofdavid2

[007]

I think this is a much more objective way of assessing bank strength, stability, and safety than the usual following criteria...

6) Any other usual "criteria"?

6) All bank employees (or at least the ones you see as a customer) have "white skin" rather than a dark(er) complexion, and use the latest whitening cosmetic products.

And 7) There are plenty of busy-looking staff standing around, wearing green (clown) uniforms (yes, I'm talking about Kasikornbank) who want to fill out your bank forms for you (even if you say 'no, thanks'), cause many (Thai) customers are illiterate...

Edited November 10, 2007 by 7

[disgruntled]

Are people really worried about Thai banks again?

[Losangels]

Yeah its all in the "looks". The good looking ones are most likely Public Relation (PR) employees. They look nice but if you had to ask them a banking question, they give you this look

[junkofdavid2]

Here are 2 other websites to check the credit rating of banks and other establishments.

www.fitchratings.com (best to use the "search" option)

www.moodys.com (also has a good "search" option, but you'll have to register first)

[Heng]

Alternate thread title: *what will happen to my $300 if my bank fails?*

[Rinrada]

Would assume that the Thai Gov.would do the same as Alistair Darlings Sunshine Boys did over 'ere when it came to the Northern Rock Bank recently....and bail them out....Yea........

latest estimates ...25 Billion and rising....in real Money...only honourable thing to do..init...measure of a responsible Democratically Elected Gov. and Thai Gov.....O yes... almost forgot.....

anybody found a couple of mislaid CDs......