BANGKOK, Aug 24 (TNA) — Deposits in the first half of this year came from about 80 million people and amounted to 14.67 million baht, rising by 8% which was the fastest pace in 12 years, according to the Deposit Protection Agency.
Announcing the figures, DPA president Songpol Chevapanyaroj said people were saving for their future due to the impacts of the coronavirus disease 2019 and investors were moving their money to banks from capital and money markets where yields were declining.
According to him, as of June this year there were 80.82 million depositors with financial institutions protected by DPA. The figure rose by 1.38% or about 1.1 million.
The combined amount of protected deposits stood at 14.67 million baht, up by 8.12% from the end of last year. The increment was the highest in 12 years since the DPA foundation in 2008. Of all depositors, 98% were small ones, each of whom saved up to 1 million baht.
Mr Songpol said that normally deposits had grown about 4-6% annually.
DPA protected deposits of up to 5 million baht per account. Its fund amounted to 129 billion baht and most of it were in the forms of bonds of the government and the Bank of Thailand, he said. (TNA)
