Thailand Banking & Financial Services Q3 2018
The financial sector is characterised by increasing deregulation, particularly with regard to foreign ownership, driven byThailand's membership of the ASEAN Economic Community. This has been occurring more in the insurance sector to help grow theindustry, which is expected to grow steadily to 2022. Banking sector asset growth is set to recover to around 5% during 2018, andthe insurance sector will continue to grow at a fairly robust pace thanks to rising incomes, growing regional trade and a generallyexpanding economy, underpinned by access to capital, expertise and increased foreign investment. Stock market activity isunderpinned by a steady stream of IPOs. Domestic asset managers are so far retaining a competitive edge through their dominanceof distribution channels, but foreign competition is increasing.
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