Thailänder virtueller Banklizenz an SCBX, Krungthai, und CP Group erteilt
Get ready for Thailand's digital banking landscape to shake things up! The Bank of Thailand (BOT) has announced the winners of their highly anticipated virtual bank licences - SCBX, Krungthai Bank, and the CP Group. This exciting move will expand financial services across the country, especially benefiting the underserved retail and SME market.
Dr Roong Mallikamas, the Deputy Governor for Financial Institutions Stability at the BOT, confirmed the selections during a press conference on Thursday. The Ministry of Finance has granted the BOT's selected consortiums permission to operate as virtual banks in Thailand.
The Picked Contenders
SCBX, backed by two leading international digital banking players - WeBank from China and KakaoBank from South Korea, has secured its spot.
Krungthai Bank has teamed up with its partners AIS and the PTT Group, operating through PTT Oil and Retail Business Public Company Limited (OR).
ACM Holding Group, a subsidiary of the Charoen Pokphand (CP) Group, part of Ascend Money, the operator of the TrueMoney e-wallet service, is also on board.
The Nitty-Gritty Details
The BOT and the Ministry of Finance carefully assessed each applicant's qualifications, business plans, and ability to deliver innovative value propositions. The aim is to enhance efficiency in financial services and cater to diverse customer segments, particularly retail and SME customers, while fostering financial innovations and promoting healthy competition.
Approved applicants must now establish a public limited company, meet specific conditions set by the Minister, and undergo a readiness assessment by the BOT. Once they formally request their virtual bank licenses, they must commence operations within one year from the Minister of Finance's approval, dated June 19, 2025.
Looking Ahead
The adoption of virtual banking in Thailand will pave the way for digital innovations, competition, and financial inclusion. Expect these new virtual banks to make waves in the Thai economy as they focus on delivering improved customer experiences, particularly for retail and SME customers.
Stay tuned as the Bank of Thailand engages with the approved consortia in early July 2025 to discuss the next steps for a smooth rollout. The BOT will monitor these virtual banks closely for the first three to five years post-launch to ensure they operate in a competitive, open, and fair financial ecosystem.
Sources:
- https://www.bot.or.th/
- https://www.mof.go.th/
- https://www.scb.co.th/
- https://www.krungthai.com/
- https://www.cp.co.th/
- The international digital banking players, WeBank from China and KakaoBank from South Korea, have partnered with SCBX, one of the approved contenders for virtual bank licenses in Thailand.
- The Ministry of Finance's permission allows Krungthai Bank, AIS, and the PTT Group to operate as virtual banks in Thailand, following the announcement made by the Bank of Thailand.
- The competitive selection process, overseen by the Bank of Thailand and the Ministry of Finance, focused on applicants' qualifications, business plans, and their ability to deliver innovative value propositions, with a special emphasis on retail and SME customers.
- In light of the adoption of virtual banking, investing opportunities may arise as these new digital banks focus on improving customer experiences, primarily for retail and SME sectors, fostering digital innovations, and promoting competition within Thailand's economy.
