Thailand's major corporations are competing for three available virtual bank licenses, with the Bank of Thailand (BOT) starting to accept applications on March 20. Interested candidates have six months to submit their applications, with only three being allowed by the BOT regulator. Gulf Energy Development Plc, a conglomerate, is partnering with telecom giant Advanced Info Service Plc, Krungthai Bank Plc, and PTT Oil and Retail Plc to form a joint venture to establish a virtual bank. SCBX, a financial arm of Siam Commercial Bank, is forming an alliance with a Chinese technological company to prepare for operating a branchless bank in Thailand. The central bank is expected to announce the license winners by June next year, with virtual banks beginning operations by June 2026. (ICE BANGKOK)

Fonte notizia: The Nation