Top reasons cited by Thai respondents include a change in personal circumstances (28 per cent), a wish to consolidate all accounts with another institution (22 per cent), a desire for access to better investment and wealth management products and services (20 per cent) and incentive from another institution (20 per cent).
Financial impacts felt by even the wealthiest of Thais
Amongst mass affluent banking customers in Thailand, 63 per cent experienced a decrease in income due to the pandemic, 7 per cent less than the wider retail banking market in Thailand. Many (41 per cent) of the country’s mass affluent deferred loan repayments, as a result, 6 per cent lower than Thailand’s retail banking customers, overall.
This disruption to income has left 37 per cent of affluent Thais saying they intend to reduce spending, just as half of Thailand’s retail banking customers plan to…
