Sunday, January 22, 2023
The Deposit Protection Agency (DPA) or DPA continues to build confidence in deposit protection for depositors and the public. Unveiling a 5-year roadmap plan (2023-2027) highlighting 4 key strategies Supports the vision of being a reliable and modern deposit protection organization Build confidence among depositors and the public through the slogan “Deposit Protection Agency ready to protect by your side” with the deposit statistics report as of the end of October 2022. It was found that the total number of depositors was 89.66 million, a growth of 4.46%, covering deposits protected in the amount of 16.12 trillion baht, a growth of 3.36%. Revealing deposit protection measures through branchless commercial banks (Virtual Bank), depositors will be protected according to the legal limit of 1 million baht per 1 depositor per 1 bank, and reinforces the Deposit Protection Fund’s strength and stability. while strengthening the stability of the country’s financial system to be stable
The Deposit Protection Agency is ready to drive a 5-year strategic plan (2023-2027) to support changes in financial innovation and new forms of financial services in the digital economy era. Emphasis on building trust and confidence for depositors and the public through 4 key strategies.
Strategy 1: ready to effectively protect depositors according to the deposit protection mission Reimbursement and settlement When there was a financial crisis, the license was revoked. The process of repaying depositors must be convenient and fast. through modern channels Correct and complete as required by law. The institute has closely coordinated with all 32 financial institutions under protection (list of financial institutions in attachment) to test the transmission of financial institution data files. through an information technology system that was developed specifically for the safety of information with a data processing system and a depositor return operating system
Strategy 2: Ready to build public confidence in the deposit protection system and strengthen financial immunity. by communicating through different channels and methods to suit target groups in each age group Including joining forces with both government and private agencies to expand the scope of access and create awareness for depositors and the public. and communication cooperation with agencies in the Financial Stability Network (FSN), including the Ministry of Finance. and the Bank of Thailand
Strategy 3 Ready to be a part of strengthening the stability of the financial institution system to be stable and sustainable. Through preparation in terms of working with agencies in the financial stability network. In addition, a data analytics system has been developed to obtain useful information for research and analysis of deposit situations. which is part of the stability of the financial institution system
Strategy 4 Ready to develop the organization’s potential for continuous efficiency and good governance. Both human resources and digital technology systems to develop infrastructure and apply in management in both normal and crisis situations. In particular, the operating system to pay back the depositor and various internal operating systems. that is connected to communication channels so that the institution is ready to carry out its mission with efficiency and transparency, providing clear and accurate information to depositors and the public
Mr. Songpol Chevapanyaroj, Director of the Deposit Protection Agency (Deposit Protection Agency), said that with the fourth phase of the strategy from 2023 to 2027, the Deposit Protection Agency continues to focus on developing efficiency in payment. Return and settle and building public confidence by increasing financial immunity for the public. In addition, the institution has adjusted its operating direction to keep up with changes in financial innovation and new forms of financial services, such as wireless commercial banks. branches or virtual banks that are going to happen in Thailand as a result of the growth of digital technology and changing consumer behavior. Currently, it can be seen that many countries around the world Has issued rules for establishing a branchless commercial bank or Virtual Bank such as Japan, Taiwan, Korea, Singapore, England, etc. For Virtual Bank in Thailand. Deposits of the depositor will be protected by the Deposit Protection Agency. according to the protection limit prescribed by law, in the amount of 1 million baht per 1 depositor per 1 financial institution as well
According to the statistical data of protected deposits at the end of October 2022, it was found that the number of protected deposits amounted to 16.12 trillion baht, an increase of 5.25 billion baht from the end of 2021, representing a growth of 3.36%. It comes from holding funds in deposit accounts of large depositors and funds during periods of financial market volatility. and business sectors that bring money to stay in deposit accounts to create liquidity in doing business It is expected that deposits will continue to grow this year due to the increase in deposit interest rates of financial institutions.
While the number of protected depositors increased to 89.66 million, an increase of 3.83 million from 2021, representing a growth of 4.46%, mainly due to the increase in individual depositors with less than 1 million deposits. baht, which at present, depositors who are fully covered account for 98.01% (87.88 million) of all depositors. Currently, the Deposit Protection Fund has a total amount of 137 billion baht with high level of liquidity. strong and stable with deposit protection for depositors
Depositors and the public who are interested in additional information can follow the news Updates on deposit protection can be found on the website. www.dpa.or.th Or social media channels via Facebook, Youtube, Twitter, Line, LinkedIn, just click to search for dpathailand or call DPA Contact Center 1158 for inquiries.
