THURSDAY, March 28, 2024
nationthailand

Preference for digital banking forces closure of bank branches

Preference for digital banking forces closure of bank branches

Many commercial banks have started closing their branches, as most customers prefer using digital channels to make most transactions.

In the first nine months of this year, Siam Commercial Bank (SCB) closed 36 branches, the most among its peers, followed by Kasikornbank (Kbank) shutting down 22 branches and TMB Bank 17 branches.

SCB currently has 1,125 branches, down from 1,161 branches at the end of last year, while KBank has 1,007 branches and TMB 415.

However, the Thai Credit Retail Bank opened 75 new branches, bringing the number of outlets to 207.

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