Banking industry in Thailand - statistics & facts

Banking in Thailand officially started in 1906 and expanded together with the rise of trade. The continuous growth has led to an established and modernized banking sector, with the Bank of Thailand founded as the country’s central bank. The expansion of Thailand’s banking sector has brought about greater access to financial systems, as seen by the increased number of automated teller machines, along with being one of the leading countries in the Asia Pacific with a high banking population. Thailand’s banking sector now provides various financial services, depending on the types and demands of clientele.

Banking services in Thailand

The most common service among banks in Thailand is retail banking, which focuses on day-to-day financial activities such as deposits, loans, and savings. To keep up with the expected level of newly-established firms, it is also essential for banks to provide corporate banking services, especially since small and medium enterprises are a significant driver of the country’s economy. The recent COVID-19 pandemic has given even greater importance to corporate banking services since financial policies greatly assist smaller businesses during the pandemic compared to other government policies. Furthermore, larger businesses may also engage in investment banking, emphasizing corporate demands for expansion and funding opportunities. Despite the great variation of services already provided by mainstream banks, consumers or smaller businesses in specific industries may also engage in banking services from cooperatives such as thrift and credit union cooperatives.

The banking sector during and after the COVID-19 pandemic

Thailand’s economy was among the most heavily affected by the COVID-19 pandemic in the Asia-Pacific. The pandemic has thus, without a doubt, influenced the banking sector’s performance since it relies on the health of other businesses. Despite the significant impact on the country’s economy, the banking sector remained resilient through efficient credit practices by providing soft loans. Additionally, digital banking has become more popular for banks and clients since it eases contactless transactions during the pandemic. Consumers have thus developed a preference for financial management through digital mediums, especially for digital payments through mobile platforms, which is very likely to carry out on to the post-pandemic climate. Therefore, banks must now keep up with client demands for faster, more efficient, and easy-to-use financial systems as well as maintain their customer base through appealing credit and loan structuring programs as the economy gradually recovers from the affects of the COVID-19 pandemic.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Dec 20, 2023

Key insights

Number of commercial bank branches in Thailand
1.45k
The biggest bank in terms of total assets in Thailand
Bangkok Bank
Net profit of the banking sector in Thailand
238bn THB
Get more insights

Editor’s Picks Current statistics on this topic

Biggest banks by total assets in Thailand as of March 2024 (in trillion Thai baht)

Banks

Biggest banks by total assets in Thailand 2024

Return on equity of the banking sector in Thailand from 2019 to the 3rd quarter of 2023

Banks

ROE of the banking sector Thailand 2019-Q3 2023

Return on assets of the banking sector in Thailand from 2019 to the 3rd quarter of 2023

Financial Institutions

ROA of the banking sector Thailand 2019-Q3 2023

Related topics

Recommended

1

Recommended statistics

Overview

7

Overview

Retail Banking

6

Retail Banking

Corporate Banking

4

Corporate Banking

Cooperative Banks

4

Cooperative Banks

Investment Banking

3

Investment Banking

Digital Banking

5

Digital Banking

Further reportsGet the best reports to understand your industry

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)
Email
support@statista.com

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)
Email
asia.support@statista.com

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)
Email
asia.support@statista.com

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)
Email
eu.support@statista.com

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)
Email
latam@statista.com

Mon - Fri, 9am - 6pm (EST)

Menu