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Business Strategy: Thai Banks Respond to New Financial Sector Master Plan
Market Study
Published: April 2010
Pages: For full details, please email keithw@cmsinfo.com
Tables: For full details, please email keithw@cmsinfo.com
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Research from: IDC Research
Sector: General Banking & Related Services
This IDC Financial Insights report comments on the new Thai Financial Sector Master Plan (FSMP) Phase II, to be implemented between 2010 and 2014. The plan brings in several measures that transform the competitive landscape ? among others, encouraging more types of competitors, expanding the scope of business for some players, and easing the burden of regulatory compliance.
This IDC Financial Insights report comments on the new Thai Financial Sector Master Plan (FSMP) Phase II, to be implemented between 2010 and 2014. The plan brings in several measures that transform the competitive landscape ? among others, encouraging more types of competitors, expanding the scope of business for some players, and easing the burden of regulatory compliance.
Michael Araneta, senior research manager, IDC Financial Insights, remarks, "The greatest changes brought about by the master plan will be in changes to financial laws, improvements to banks' risk management and compliance, and the push to convert institutions into commercial banks. These are sufficiently covered by the master plan." Araneta points out, "Unlike their peers in other countries, Thai banks still do not have credible regionalization initiatives. The master plan, currently silent on the need for domestic banks to regionalize, must also work on the premise that regionalization will improve the competitiveness of the industry as a whole."
Michael Araneta, senior research manager, IDC Financial Insights, remarks, "The greatest changes brought about by the master plan will be in changes to financial laws, improvements to banks' risk management and compliance, and the push to convert institutions into commercial banks. These are sufficiently covered by the master plan." Araneta points out, "Unlike their peers in other countries, Thai banks still do not have credible regionalization initiatives. The master plan, currently silent on the need for domestic banks to regionalize, must also work on the premise that regionalization will improve the competitiveness of the industry as a whole."