Banks storing cash ahead of Songkran Festival

BANGKOK, April 4 (TNA) -- Thailand's top leading commercial banks, Kasikornbank or KBank and Siam Commercial Bank are storing extra cash of over 68 billion baht ahead of the upcoming Songkran Festival 2017. Kbank said that it is reserving cash of about 32.2 billion baht at all of its branches and ATMs across the nation, as the country moves closer to welcome the Songkran long holiday between April 12-16. A total of 10.5 billion baht would be reserved at all of the bank's branches, dividing into 4.2 billion baht for the branches in Bangkok and the rest or 6.3 billion for provincial branches. Around 21.7 billion would reserved at over 9,000 K-ATMs nationwide, dividing into 10 billion for the ATMs in Bangkok and 11.7 billion for ATMs in other provinces. The Siam Commercial Bank, meanwhile, is reserving 36 billion baht for its ATMs and local branches, dividing into 18 billion for the ATMs and branch in Bangkok and the other 18 billion for provincial branches and ATMs. The bank said its cash reserve for the year is the same as last year as customers' demands for cash remain stable from the year before. (TNA)