BANGKOK, 29 March 2013 The Bank of Thailand has applied new changes to the way commercial banks are operating to provide them with greater flexibility in giving financial services to a wider group of clients.
Mrs. Salinee Wangtan, Senior Director of the BoT Audit Department, has revealed that the changes will allow commercial banks to decide on how they would run their services. According to her, they can choose to provide loans exclusively at one branch while offering some other services at other branches depending on their demographic locations.
This policy will provide more banking opportunities for people who may seek one particular service in their neighborhood while commercial banks can turn their investment to opening more offices to cater for clients with different financial needs.
However, Mrs. Salinee cautioned all banks that if they wish to offer new banking services, they need to keep in mind that there are risks involved and the reputation of their bank and the quality of services must be of the BoT standards.