Thai Bank Deposits See First Decline in 10 Years Due to Economic Concerns

Value of Thai bank deposits fell 1.32% in Aug 2023, the first decline in a decade due to economic woes.

As of Aug 2023, deposits were 16 trillion baht, down 212 billion from end of 2022.

Factors include uneven economy, rising costs, search for higher investment returns than deposits.

93.5 million depositors protected in member institutions, up 3.05 million from 2022.

Depositors face shrinking account balances; 80% have under 5,000 baht in accounts.