Thai Bank TTB Taps Huge Savings Gap With New Investment App
Thai Bank TTB launches My Wealth app to tap a massive savings gap, targeting young professionals aged 30-45 with digital advisory services as retail investing among Thais doubles.
Thai people hold approximately 15-16 trillion baht in bank deposits spread across about 150 million accounts, while investment accounts remain below 5 million, with managed assets of around 3.4 trillion baht, according to Ttb Bank. This gap reflects a structural imbalance in Thai financial behavior: 57% of Thai financial assets sit in deposits compared to a global average of 45% and a US average of 59%, while investment assets account for only 23%. Kanokwan Petchpisitchote, head of banking and wealth product management at Ttb Bank, said Thai people have good savings habits but need to convert those savings into wealth-building vehicles suited to long-term financial goals. Low interest rates over the past 20 years have made relying on deposit returns alone inadequate, though younger generations and Gen Y investors aged 30-44 are changing behavior. The number of retail investors has roughly doubled in five years to 3 million, with nearly half aged 30-44, increasingly viewing investment as tied to life milestones such as home and car purchases, children's education, and financial independence. Ttb is targeting the mass-affluent group aged 30-45 with monthly incomes above 75,000 baht who are digitally savvy and wealth-building, seeking not just stock picks but advice linking investment to financial goals and risk-diversified, adaptable portfolios. The bank launched My Wealth on its ttb touch app in partnership with Webull to provide digital wealth advisory services, aiming to upgrade from a simple trading platform to a comprehensive wealth-management assistant for underserved, underinformed, and underinvested Thais.
