The deposits of Thais are expected to grow by 1-3% in 2025 year-on-year, in line with the slow growth of the Thai economy amid uncertainties both domestically and internationally, according to the Deposit Protection Agency (DPA).
Mahatana Ampornpisit, president of the DPA, said last year there were 99.3 million depositors in the financial system, including people with multiple accounts, government accounts, and private company accounts, a 4.75% increase from 2023, with total deposits amounting to 16.3 trillion baht, up 1.40% from the year before.
The DPA fully protects deposits of up to 1 million baht per depositor, accounting for a total deposit value of 4.52 trillion baht, with 97.5 million depositors fully covered up to the limit of 1 million baht, or 98.2% of all depositors in the financial institution system.
According to the DPA, the average deposit per Thai, based on data from depositors who are fully protected, was only 3,164 baht at the end of 2023, down by 10.4% from 3,533 baht in 2022.
Several factors have contributed to the decline in the average deposits of Thais, such as low inflation, high household debt and low interest rates, noted the agency.
"However, we cannot definitively say the decline in the average deposits of Thais is due to a poor economic situation," said Mr Mahatana.
He said the proportion of people with deposits of less than 50,000 baht per account in 2024 increased by 4.84% from 2023, exceeding the average of the past three years. This increase is related to funds from government assistance programmes, said Mr Mahatana.
The proportion of people with deposits exceeding 100 million baht rose by 2.70%, attributed to fixed deposits and higher interest rates, as well as people parking their money, waiting for more clarity on the economy, he said.
According to DPA data, 23,858 people had deposits of between 10-25 million baht last year, up 1.51% from the previous year. Those with deposits exceeding 100 million baht numbered 151,771 people, an increase of 2.70%.
The DPA provides deposit protection for depositors in the financial system across 32 institutions. The agency's capital is collected from financial institutions based on their deposit proportions.
The DPA currently holds 146 billion baht in capital, which must be invested in secure assets at a minimum level of 80% by law. Last year the investment return was 2.17%, the highest in five years, and the target for 2025 is a return of 2.20%.
