Ms. Kattiya Indaravijaya, CEO of Kasikorn Bank, revealed that the news regarding the additional vaccine procurement, which has progressed recently due to collaboration between the public and private sectors, allowing for a quicker vaccine supply than the original plan set for the end of 2021, is good news for the public and businesses across all sectors. This helps alleviate concerns about vaccine availability and boosts confidence in gradually easing control measures to allow economic activities to resume more effectively.

What needs to be prioritized now is the acceleration of vaccination efforts. Currently, approximately 6.4 million people have received their second vaccine dose, accounting for about 8.9% of the total population, which is still far from the herd immunity target of around 40-50 million doses. This depends on the situation of the outbreak and the mutation of the virus. If the authorities can increase the rate of second doses to no less than 300,000 doses per day, the goal of achieving herd immunity from the second vaccine dose could be reached by the end of this year or early next year. This would instill confidence in the private sector that the Thai economy has truly passed its lowest point.

This scenario is particularly important for the commercial banking sector, as it indicates how much more resources, both liquidity and capital, can be dedicated to supporting clients until they can survive the worst phase and prepare to restart their businesses. It is also crucial to maintain the financial stability of the commercial banking system above regulatory thresholds and avoid downgrades in credit ratings. This contrasts with the previous unclear situation filled with uncertainties, which required us to focus on preparing for potentially prolonged adverse conditions. However, we must continue to monitor the situation to see how much the severity of the outbreak decreases as anticipated.


Ms. Kattiya Indaravijaya, CEO of Kasikorn Bank