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5m depositors had less than Bt50 in accounts

Dec 20. 2019
 Atchana Lamsam, right
Atchana Lamsam, right
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By THE NATION

Almost 5 million Thai depositors have less than Bt50 in their bank accounts, according to a recent joint study by Puey Ungphakorn Institute for Economic Research and Deposit Protection Agency on the savings behaviour of Thais.

The study was based on 80 million bank accounts worth Bt12 trillion as of June 2017.

The Puey Ungphakorn Institute's section head of networking and communication, Atchana Lamsam said it was found that as of June 2017, 56.04 per cent of Thai people had commercial bank’s accounts.

Of the total depositors, half had less than Bt3,142 in their accounts.

Also, 32.8 per cent of the total or 12.2 million had an account balance less than Bt500 each, while 4.7 million had less than Bt50.

Only 0.2 per cent of total depositors had over Bt10 million in their accounts.

The study also found that bank customers with deposits of more than Bt3 million each, accounted for 10 per cent of the total.

However, their combined deposits account for 93 per cent of the total of Bt12 trillion in the Thai banking system.

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