Frances Gagua

Over 10 million Thai debtors are said to be facing repayment problems.

A social media post had claimed that the central bank is supporting an investment platform.

The bank plans to offload $262m of bad loans in 2024.

Contributions from overseas businesses drove up loan growth and fee income.

They must also simplify business models and embrace their “tech” identity. 

The bank has outlined growth plans to grow its AM business.

But capital ratios and loan-to-deposit ratios declined during the year.

It aims to improve transparency and accountability, amongst others.

The bank is reportedly in talks with overseas asset managers for deals.

At least 1 in 2 respondents had an outstanding loan from a formal lender.

Notable changes include stating guidelines for T&C changes and its extent of accountability.

In 2023, SMBC had raised its ownership of Jefferies to 15%.

Cumulative personal remittances grew to $33.6b in the first 11 months of 2023.

He joins a seven-member board headed by BSP governor Eli Remolona, Jr.

As financial networks look to become increasingly interconnected within and cross borders, the imperative to ensure their seamless and stable operation grows more vital, says Penny Chai, VP of Business Development, APAC at Sumsub.

They must allot at least S$20,000 from their CPF ordinary accounts to the time deposit account.