BANGKOK : Thailand's central bank on Thursday removed a limit on banks' dividend payouts and required them to pay a regular fee rate to the Financial Institutions Development Fund from next year, officials said.
With a clearer economic trend and strong banks, there is less need for broad-based support measures that can be gradually normalised, the central bank said. Previously, banks' dividend payout rate was limited to no more than 50 per cent of annual profit, but a stress test showed they were could now cope with risks, the central bank said.From 2023, banks will have to pay an annual regular fee rate of 0.46 per cent of their deposits to the FIDF after a reduced 0.23 per cent rate ends this year, the Bank of Thailand said.
Over the past two years, various fiscal and financial support measures had been introduced, with the benchmark kept at a record low of 0.5 per cent to support the economy, senior director Sakkapop Panyanukul told a news conference. "We've used quite a lot of policy space, so the need to build it up will become more necessary in the future," he said.Senior director Suwannee Jatsadasak said the BOT would continue to help with debt restructuring and a surge in bad debt was not expected.
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