The country’s first virtual banks are expected to begin offering services in 2025 amid a push to boost competition, widen loan access and cut costs for businesses and individuals.
The Bank of Thailand plans to issue three such licences in 2024 before the operations begin a year later, said assistant governor Tharith Panpiemras. About 10 parties have expressed an interest to apply for the permits, he said. Applications will open later this quarter.
