ttb launches My Wealth to drive Thai savings into global investments

Khaosod•Economy•21h ago

Reader Briefing

TMBThanachart Bank (ttb) has launched the My Wealth service on the ttb touch application to encourage Thai savers to diversify into global assets and US equities via Webull.

•Thai people hold approximately 15–16 trillion baht in deposits across 150 million accounts.
•ttb launched My Wealth on the ttb touch app to provide digital wealth management advice.
•The service integrates with Webull to allow customers to invest in US stocks and ETFs.
•ttb targets the Mass Affluent group aged 30–45 with average monthly incomes exceeding 75,000 baht.

Overview

•Thai people have approximately 150 million deposit accounts with assets under management (AUM) of 15–16 trillion baht, while investment accounts total fewer than 5 million with AUM of 3.4 trillion baht.
•57% of Thai financial assets are in deposits and 23% are in investments, compared to global averages of 45% and the US at 59%.
•A low-interest-rate environment persisting for over 20 years has made relying solely on deposit returns difficult for wealth creation.
•The number of individual investors increased from approximately 1.5 million to 3 million over the past 5 years, with nearly half being Gen Y aged 30–44.
•ttb launched My Wealth on the ttb touch application to transition from a trading platform to a wealth management tool that tracks deposits, FCD, mutual funds, and US stocks/ETFs.
•ttb partnered with Webull to provide access to US stocks and ETFs, allowing customers to diversify portfolios globally.
•ttb is targeting the Mass Affluent group aged 30–45 who earn more than 75,000 baht per month and are digitally literate.
•ttb offers incentives for Webull users, including special USD exchange rates, FCD e-Saving interest up to 3.65% per annum, and potential rewards of 400 baht in Magnificent Seven stocks for qualifying investments.

Full article content is available on the original source.

Read on Khaosod (Thai Version)

Source: Khaosod (Original)

View Original Article

Key Entities

Organization

TMBThanachart Bank(ธนาคารทีเอ็มบีธนชาต)ℹ️

A bank that launched the My Wealth service on its ttb touch application.

ttb(ทีทีบี)

A shortened name for TMBThanachart Bank providing wealth management services.

Webullℹ️

A partner platform integrated with ttb touch to provide access to US stocks and ETFs.

Person

Kanokwan Petchpisithchot(กนกวรรณ เพชรพิสิฐโชติ)

President of the Banking Transaction Product and Financial Wealth Management Group at ttb.

Naris Arak sakulwong(นริศ อารักษ์สกุลวงศ์)

President of the Strategy and Digital Group at ttb.

Place

United States(สหรัฐฯ)ℹ️

The country whose stock market and ETFs are accessible via the My Wealth and Webull integration.