Banks load ATMs for Chinese New Year
Commercial banks have topped up their ATMs nationwide with cash for Chinese New Year, as consumer spending in Bangkok alone for the festival is expected to rise by 3.5 per cent to Bt5.28 billion.
Krung Thai Bank will reserve Bt20.57 billion for its ATMs nationwide – Bt7 billion for Bangkok and the rest for the provinces. This year’s cash reserve is higher than the Bt19 billion for Chinese New Year last year.
Kasikornbank will reserve Bt28 billion for its ATMs nationwide, of which Bt16 billion is for Bangkok and the rest for upcountry. Last year KBank set aside Bt24.4 billion.
Bank of Ayudhya is increasing its cash reserve for this year’s celebration by 10 per cent to Bt15 billion.
Bangkok Bank has set aside Bt30 billion, the same level as last year, for cash withdrawals during Chinese New Year.
At TMB Bank, Bt6 billion will be available for withdrawal – Bt4 billion from its ATMs and Bt2 billion from its branches.
Siam Commercial Bank is ready with Bt22 billion in cash – Bt12 billion for its ATMs and branches in Bangkok and Bt10 billion for its ATMs and branches in the provinces.
Kasikorn Research Centre predicts consumer spending in Bangkok will increase due to the higher prices of goods, but not like in previous years when spending grew by 4-5 per cent, because consumers have to limit their purchases after incurring heavy costs from the recent flood.
