SCB X, a holding company of Siam Commercial Bank (SCB), is keen to obtain a virtual bank licence as part of its five-year business strategy.
Speaking at a general shareholder meeting on Wednesday, Arthid Nanthawithaya, chief executive of SCB X, said the company has a positive view of virtual banking as a new business that can enhance financial inclusion and reduce financial inequality in the Thai market, in which around 10 commercial banks cater mainly to middle to upper-income customers. Lower-income people, who constitute a large proportion of the population, often rely on loan sharks.
