BOT Cuts 19 Fees; Bank Revenue Impact Estimated at 4.2-5.6 Billion Baht

Prachachat•Economy•4d ago

Reader Briefing

Bank of Thailand reduces various banking fees to alleviate costs for individuals and SMEs, with minimal projected impact on bank profits.

•The Bank of Thailand (BOT) has announced fee reductions and exemptions for 19 banking services across four categories.
•The fee adjustments aim to lower costs for retail customers and Small and Medium Enterprises (SMEs).
•Governor Vitai Ratanakorn estimates the impact on commercial banks' revenue to be between 4.2 and 5.6 billion baht.
•The new fee structures are expected to be fully implemented by October.

Overview

•The Bank of Thailand (BOT) has set standards and reduced fees for 4 types of services and 19 items.
•The fee reductions are intended to help reduce costs for retail customers and SMEs.
•Governor Vitai Ratanakorn stated that the fee adjustments are well-intentioned to assist retail and SMEs without creating excessive burdens.
•The projected impact on commercial banks' revenue from these fee changes is between 4.2 and 5.6 billion baht.
•This estimated revenue impact represents approximately 1.5-2% of the total net profit of commercial banks (around 280 billion baht).
•Some fee adjustments may commence in July, with others beginning in September or October 2026.
•All fee adjustments must be fully implemented by October 2026, with potential refunds required if implemented incorrectly.
•The fee reductions are driven by technological advancements, making some traditional costs unnecessary, such as cross-border transaction fees.

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Key Quotes

Vitai Ratanakorn

"The ultimate intention is good, hoping to help retail customers and SMEs without creating excessive burdens, as technology has changed everything, making some costs unnecessary."

ปลายทางก็เป็นเรื่องเจตนาดี หวังว่าจะช่วยรายย่อย เอสเอ็มอี โดยที่ไม่สร้างภาระจนเกินไป คือบางเรื่องเทคโนโลยีมันเปลี่ยนไปหมดแล้ว ไม่จำเป็นต้องมีต้นทุนแล้ว

Vitai Ratanakorn

"All must be implemented by October, otherwise refunds are required. For example, if a fee is capped at 100 baht but 200 baht is charged, the difference must be refunded."

ภายในเดือน ต.ค.นี้ ต้องเริ่มได้ทั้งหมด ไม่อย่างนั้นต้องคืนเงิน เช่น บอกไม่เกิน 100 บาท ถึงเวลาไปคิดเขา หักไว้ 200 บาท ก็ต้องคืนให้ลูกค้า 100 บาท

Key Entities

Organization

Bank of Thailand(ธปท.)ℹ️

The central bank of Thailand, announcing fee reductions for banking services.

Person

Vitai Ratanakorn(วิทัย รัตนากร)

Governor of the Bank of Thailand, who announced the details of the fee reductions.