Bangkok Bank’s (BBL) credit card spending for the first three months of this year recorded stellar growth, nearly doubling the industry rate thanks to the solid purchasing power of its upper-income cardholders.
Spending via the bank’s credit cards surged 14% year-on-year for the first quarter, compared with 8% growth in the industry, said Shoke Na Ranong, executive vice-president and manager of the credit card…
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The strong purchasing power of its upper-income customers, those earning at least 30,000 baht per month, was the main contributor to the bank’s card spending growth, he said.
The bank has not been affected by the Bank of Thailand’s tighter regulations on unsecured loans, which focuses on those earning below 30,000 baht a month, as more than half of its 2.2 million cards in…
