The latest report from the Bank of Thailand reveals that there has been a decline in the banking sector in the most recent quarter, up until September 2023. Overall, the system encountered relatively minor issues, with the most significant problem occurring at Thanachart Bank, where a collapse took place for a period of two hours.
Although there are still some incidents happening, this statistic is better compared to the previous quarter and the third quarter of the previous year. In the second quarter of this year, there were more than 10 hours of banking collapses across five banks. Meanwhile, during the third quarter of 2022, there were over 50 hours of collapse incidents.
As for the reasons behind these incidents, they will be accounted for in the fourth quarter and reported once again at the beginning of 2024.
TLDR: The Bank of Thailand has issued a report indicating a bank collapse in the most recent quarter, primarily at Thanachart Bank. Despite some ongoing incidents, the situation is better than previous quarters, with relatively minor issues in the overall banking system. Further details will be provided in the fourth quarter and subsequent reports in early 2024.
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