Thailand central bank approves country's first virtual banks

Krung Thai Bank PCL

19/06/2025 10:54

BANGKOK, June 19 (Reuters) - Thailand has approved virtual banking licenses to three groups led by SCB X SCB.BK, Krung Thai Bank KTB.BK and ACM Holding, the central bank said on Thursday.

The virtual banks shall start business operations within one year from the date of approval, the central bank said in a statement. Virtual banks are banks that operate only online, with no physical branches.

 (Reporting by Orathai Sriring, Kitiphong Thaichareon and Thanadech Staporncharnchai; Editing by Martin Petty)

 ((orathai.sriring@tr.com;))