Thailand’s Big Four Banks Earmarks THB128 Billion in Cash Reserves for 2023 Songkran Festival

The four largest banks in Thailand—BBL, SCB, KBANK, and KTB—have set aside a combined amount of THB128 billion in cash reserves to ensure that they can meet the financial demands of their clients across the country during the Songkran festival this year (April 12-17, 2023).

Bangkok Bank (SET: BBL) announced on Monday that it has earmarked more than THB40,000 million in cash reserves at all BBL branches and nearly 10,000 ATMs across Thailand in preparation for the Thai New Year holiday.

Other service channels, such as the bank’s 200 micro branches in retail malls, counter services at 7-Eleven, Lotus’s, Thailand Post’s Bank@Post, etc., will be open for business on every day during the holiday.

Siam Commercial Bank (SET: SCB) said it has prepared a cash reserves of THB37,500 million of which THB31,000 million is for ATMs and THB6,500 million for branches (THB10,675 million will be allocated in Bangkok, and THB26,825 million will be allocated in other provinces)

The cash reserves increased by 10% compared to a year ago, according to the bank, since the Thai economy has steadily recovered thanks to government stimulus measures and the backing of the tourism sector. As of now, SCB has 765 branches and 10,928 ATMs nationwide.     

Kasikorn Bank (SET: KBANK), meanwhile, plans to allocate cash reserves worth THB29.6 billion for KBank branches and K-ATMs during the upcoming Songkran holidays. Of that total, THB8.8 billion is for branches nationwide, including THB3.7 billion for branches in Bangkok and the remaining THB5.1 billion for those in other provinces. 

A total of THB20.8 billion is reserved for over 9,000 K-ATMs across the country, THB8.6 billion of which for K-ATMs in Bangkok and the remaining THB12.2 billion for K-ATMs in other provinces. Currently, KBank has a total of 822 branches nationwide.

Krungthai Bank (SET: KTB) has budgeted THB21,710 million for cash revenues, with THB19,380 million allocated for ATMs and THB18,650 million allocated to branches across the country.