Thailand's largest business groups compete for new virtual bank licenses; Bank of Thailand opens applications to enhance banking industry competition.

Thailand's largest business groups, Charoen Pokphand Group and Gulf Energy Development Pcl, are competing for the country's new virtual bank licenses as the Bank of Thailand opens applications. This move aims to boost competition in the banking industry, providing greater access to loans for under-served consumers. The central bank plans to announce the winning bidders next year and may grant more than three such licenses.

March 20, 2024
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