Kasikorn Research Center reports business attempting to cope with the prolonged impacts of the pandemic are facing liquidity issues. The domestic banking sector has been declining due to higher deposit withdrawals from business operators due to the pandemic.
According to Kasikorn Research Center (K-Research), outstanding deposits at 19 registered commercial banks in the first quarter of 2021 in Thailand tallied 14.7 trillion baht, up 4.98% year-on-year.
However, the growth rate declined from 10.9% posted in the fourth quarter last year.
“Corporate deposits have been declining as business operators continue to rely on deposits to pay overhead, with their income down as a result of Covid-19,” said Thanyalak Vacharachaisurapol, deputy managing director at K-Research.
On a quarter-on-quarter basis, total outstanding deposits increased by a marginal 0.47% or 68.5 billion baht, mainly…
