The newly elected president of the Thai Bankers' Association, Chartsiri Sophonpanich, has pledged to achieve access to finance for all people, and has asked for time for banks to study the interestrate spread, the width of which has prompted government concern.
Banks will cooperate with the government and provide financial services for all people, said Chartsiri, who is president of Bangkok Bank. He was speaking on the sidelines of this week's Money & Banking Awards 2010 ceremony.
He said that as the bankers' association's new president, he would spend time studying the interestrate spread - the difference between lending rates and deposit rates.
Chartsiri was responding to demands from Prime Minister Abhisit Vejjajiva and Finance Minister Korn Chatikavanij, who want banks to narrow the interestrate spread, particularly as it affects small busi¬nesses and individual savers. Abhisit and Korn have also assigned newly appointed Bank of Thailand Governor Prasarn Trairatvorakul to look at the issue in order to protect consumers.
Chartisiri said he had not discussed banks' transaction fees with the finance minister. Customers have complained about high fees when they transfer money to the accounts of other people.
Korn, who plans to discuss "many issues" with members of the bankers' association, said he understood that banks were work¬ing out the issue of transaction fees with the central bank.
He said it was appropriate that several banks had started to increase deposit rates first, following the Bank of Thailand's recent increase in its policy interest rate, from 1.25 to 1.50 per cent.
On Wednesday night, Korn presided over the annual Money & Banking Awards, host¬ed by Money & Banking magazine. Bangkok Bank was declared Bank of the Year because of its outstanding performance, reflecting its efficient management.
Kasikornbank was named Best Retail Bank, while the chief executives of Kasikornbank, Banthoon Lamsam, and Siam Commercial Bank, Vichit Surapongchai, were named Financiers of the Year for their farsighted vision and professionalism, bringing benefits to both their organisations and society.