Thai central bank lifts banks' dividend payout limit as economy recovers

30/6/2022 3:33:00 PM

Thai central bank lifts banks' dividend payout limit as economy recovers

Thai central bank lifts banks' dividend payout limit as economy recovers

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 (FIDF) from next year, officials said.With a clearer economic trend and strong banks, there is less need for broad-based suppo

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 (FIDF) 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.The central bank's FIDF provides financial assistance to troubled institutions.

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LinkedIn 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 (FIDF) from next year, officials said.Pre-pandemic, convicts could volunteer to clear the sewers of Thailand's capital — which sits only 1.t to approval from the Thai central bank, BAY said.LinkedIn BANGKOK : Thailand's economy improved in May and activity showed a further recovery in June, supported by increased spending, exports, and a pickup in tourism as pandemic restrictions eased, central bank officials said on Thursday.

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. But fears of spreading the virus meant the gutter-diving work has been done by city authorities and workers, until now. The central bank's FIDF provides financial assistance to troubled institutions. From 2023, banks will have to pay an annual regular fee rate of 0. He is one of roughly 80 inmates shipped in from three prisons to an eastern Bangkok suburb and set to labour, earning money and a day off their sentences for each day worked.46 per cent of their deposits to the FIDF after a reduced 0. In May, inflation jumped to a nearly 14-year high of 7.

23 per cent rate ends this year, the Bank of Thailand (BOT) said. After hauling up the concrete slabs covering the drains, the inmates — wearing protective waders and heavy-duty gloves — drop down and scrabble out the grime, filling large iron tubs with stinking slop. 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. "This is the first time since the pandemic" that the drains have been cleared by prisoners, said a Bangkok Remand Prison guard, who declined to be identified as he was not authorised to speak to the press. "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. Recently, the BOT also signalled an interest rate hike. "The increased cleaning when the rainy season starts will help the drains (remove water) quicker," said a Bangkok Metropolitan Administration official. In pre-pandemic 2019, there were nearly 40 million foreign tourists.

Senior director Suwannee Jatsadasak said the BOT would continue to help with debt restructuring and a surge in bad debt was not expected. Source: Reuters . "We have made mistakes in life so we end up in jail," he said.