The Bank of Thailand expects to launch operations of virtual banks in the second quarter of 2025, according to the central bank’s senior director Wipawin Promboon.
Without giving specific names of the bank, the senior director noted that the central bank plans to propose giving licences to three operators for virtual banks, while opening up for additional applicants.
Wipawin Promboon noted that banks that meet qualifications for virtual banks must have registered capital of at least 5 billion baht and that foreign operators must have a Thai partner.
Currently, all Thai commercial banks listed in the market have registered capital of over 5 billion baht.
