BOT Shows No Concerns over the Boycott of SCB

The Bank of Thailand (BOT) stated that it is not concerned about liquidity in the commercial banking system as the youth-led demonstrators called for a boycott on the Siam Commercial Bank Public Company Limited (SCB).

 

The protesters on Sunday called for a boycott on SCB by withdrawing deposits from the bank as the group continued to demand a reform of the country’s monarchy. However, Mr. Tharith Panpiemras, a senior director at BOT, stated that the call for withdrawing deposit on a certain bank would not affect the Thai banking system as it has the Liquidity Coverage Ratio (LCR) over one fold, reflecting a high liquidity.

 

The share price of SCB slipped ฿0.75/share or 1.1% to ฿66.50/share as of 15:40 local time in Thailand.