Why the long delay for bank branches?

For the sake of competitiveness and efficiency, branch banking is now offered to foreign banks. It will take one year to for them to come into being with a six-month grace period for applying and six months for the BOT’s review.

It is ironic for this to take such a long a time in this digital age. Two months should suffice. In this age, news passes so quickly that it is no surprise that within 24 hours all potential foreign banks would have heard of the offering. Fact-finding through various search engines and contacts and the screening process should take at the most one month. It’s not very efficient to require a period of one year.

Songdej Praditsmanont

Bangkok