Nation Thailand
CLICX opens Thailand’s virtual bank era under strict rules and early loss pressure
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Thailand is set to enter a new era of digital banking as CLICX prepares to open for service on June 19, becoming the country’s first branchless commercial bank, or virtual bank.
Key facts
- The launch marks the shift from licensing to real competition after the Finance Ministry, acting on the recommendation of the Bank of Thailand (BOT), approved three groups to establish virtual banks in June 2025.
- Based on international examples where average first-year return on equity was around minus 29%, the brokerage estimates that virtual-bank losses would reduce parent-company profits in 2026 by only about 1-3%.
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- Ascend Bank, operated by ACM Holding under the Ascend Money group, is expected to open in July, while BankX, led by SCB X with KakaoBank Corp and WeTechnology Limited, plans to begin operations by the end of 2026.
Summary
The launch marks the shift from licensing to real competition after the Finance Ministry, acting on the recommendation of the Bank of Thailand (BOT), approved three groups to establish virtual banks in June 2025.
CLICX is backed by Krungthai Bank, Advanced Info Service and PTT Oil and Retail Business. The partnership brings together a state-linked bank, a major mobile operator and a nationwide retail and energy network, giving the new bank access to data, technology and a broad customer base from the start.