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Commercial banks in Thailand reserve over 127 billion THB for Songkran festival

Budsakorn Teerapunyachai, Assistant Governor of the Bank of Thailand’s (BoT) Payment Infrastructure and Services Group, said this move is based on the expectation that commercial banks will face a demand for banknotes of around 40 billion THB, taking into account the holiday duration and the government’s tourism stimulus measures.

Thailand's commercial banks reserve over 127 billion THB for Songkran festival (Photo: nationthailand.com)
Thailand's commercial banks reserve over 127 billion THB for Songkran festival (Photo: nationthailand.com)

Bankok (VNA) - Six commercial banks in Thailand have set aside a combined reserve of over 127 billion THB (3.67 billion USD) in preparation for this year’s Songkran festival.

Budsakorn Teerapunyachai, Assistant Governor of the Bank of Thailand’s (BoT) Payment Infrastructure and Services Group, said this move is based on the expectation that commercial banks will face a demand for banknotes of around 40 billion THB, taking into account the holiday duration and the government’s tourism stimulus measures.

She said that the BoT has prepared banknotes of various denominations sufficiently to meet increasing demand, ensuring the public can access convenient and comprehensive services.

Among the commercial banks, Bangkok Bank (BBL) has allocated 35 billion THB for the Songkran period from April 12-16, to be distributed through over 7,700 branches and ATMs. This is aimed at facilitating customers travelling across provinces or returning to their hometowns.

Additionally, customers can access BBL services through 163,000 banking agents, including Counter Service at 7-Eleven and Lotus’s, Bank@Post at Thailand Post, Booterm, Big C Supercentre, and Sabuy Counter. Electronic banking services are also available.

Siam Commercial Bank (SCB) has allocated 29.2 billion THB for the same period, as an increase in travel and personal spending is anticipated. This includes 10.35 billion THB for Bangkok and 18.85 billion THB for other provinces. As of March, SCB operates 680 branches and 9,779 ATMs.

Kasikornbank (KBank) has set aside 24.35 billion THB for Songkran. Of this, 3.90 billion THB is allocated for its Bangkok branches, and 5 billion THB for branches in other provinces. KBank has 780 branches nationwide.

Krungthai Bank (KTB) has allocated 18.24 billion THB from April 11 to 15, including 3.47 billion THB for branches and ATMs in Bangkok, and 14.77 billion THB for those in other provinces.

TMBThanachart Bank (TTB) has reserved 11.50 billion THB for its nationwide branches and ATMs, including 7.5 billion THB for ATMs and 4 billion THB for its branches. As of March, TTB operates 2,332 ATMs and 458 branches across the country.

Bank of Ayudhya (BAY) has reserved 8.89 billion THB to support financial transactions during the Songkran festival from April 9 to 15. This includes 4.57 billion THB for ATMs and 4.32 billion THB for branches. As of February, BAY has 5,344 ATMs and 528 branches nationwide./.

VNA
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