Tuesday, February 25, 2020

BOT allocates Bt38 billion banknotes for Chinese New Year

Jan 17. 2020
Somboon Chitphentom
Somboon Chitphentom
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By THE NATION

The Bank of Thailand (BOT) has set aside Bt38 billion in cash for commercial banks to disburse during the Chinese New Year festival.

BOT assistant governor for banknote management, Somboon Chitphentom, said on Friday (January 17) that commercial banks were estimated to disburse more banknotes worth Bt38 billion during Chinese New Year at the end of this month.

“During the festival period, people’s demand for banknotes will increase,” he explained.

BOT has reserved enough banknotes to meet the demand and had also collaborated with commercial banks to facilitate banknote distribution.

Kasikornbank plans to allocate cash reserves of Bt43.7 billion for KBank branches and K-ATMs to serve customers during the period from January 22-25.

Of the total, Bt22.8 billion are for branches nationwide -- Bt10.9 billion for branches in Bangkok and Bt11.9 billion for branches in other provinces.

Currently, KBank has 885 branches nationwide.

A total of Bt20.9 billion is reserved for 8,168 K-ATMs across the country -- Bt9.2 billion for K-ATMs in Bangkok and the remaining Bt11.7 billion for K-ATMs in other provinces.

Siam Commercial Bank (SCB) will reserve Bt59 billion banknotes for the festival period -- Bt28.5 billion for Bangkok and Bt30.5 billion for provinces.

Of the total, Bt30 billion are for its branches and Bt29 billion for ATMs.

SCB had 958 branches and 9,372 ATMs nationwide as of last December.

Bangkok Bank will prepare cash reserves of Bt40 billion to meet demand during the Chinese New Year festival at more than 1,000 branches, micro branches and ATMs nationwide.

The bank said it will top up cash in its ATMs more frequently, ensuring a smooth transaction for customers.

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