PwC Thailand’s Assurance Partner interviewed on the Money Channel

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BANGKOK, 8 July 2014 - Boonlert Kamolchanokkul, a partner and the risk, quality, and banking leader at PwC Thailand, shared his insights on PwC’s 2014 Banking Banana Skins Survey on the Money Channel’s Open Up Programme.

According to the survey, banks worldwide see regulation and political interference as the biggest risks for the global banking sector. Banking executives surveyed said the weight of new regulations is becoming excessive and could dampen economic recovery. Political interference ranked as the second biggest threat, with respondents saying it adds more costs and constraints.

Boonlert said he sees a brighter outlook for the banking sector in Thailand, expecting that stimulus measures will revive the economy after the recent political unrest.

“The Thai banking sector should benefit from an economic recovery in the second half of the year.”

When asked about Thai banks’ readiness to enter the ASEAN Economic Community slated for the end of 2015, he said they are well prepared thanks to strong loan growth, sound asset quality, and manageable non-performing loans.