Credit card spending during the final quarter of the year is expected to remain subdued, in line with the economy, despite the government’s implementation of stimulus measures.
According to Yuttachai Teyarachakul, managing director and head of personal financial services at UOB Thailand, although several stimulus measures were enacted to lift domestic consumption, particularly the “Khon La Khrueng Plus” co-payment programme, it is too early to assess the impact on consumer spending in the fourth quarter.
He said spending via UOB Thailand’s credit cards remained steady during the first nine months of this year compared with the end of last year, and the bank expects credit card spending to remain unchanged in the final quarter.
Overall credit card spending grew 2-3% for the first nine months this year, said Mr Yuttachai.
“For the first nine months, UOB Thailand recorded growth in spending, especially among upper-income customers [those earning at least 200,000 baht per month], across three categories: dining, travel and luxury products,” he said.
Mr Yuttachai said the bank emphasised asset quality this year and slowed new card acquisitions in light of heightened economic risks.
This approach allowed UOB Thailand to maintain its credit card non-performing loan ratio below the market average of around 2%.
In a related development, UOB’s Asean Consumer Sentiment Study 2025 revealed 45% of consumers made more purchases via social media platforms over the past 12 months, though 47% are taking longer to make purchasing decisions.
Many users now join live-streams for entertainment, product comparison and price evaluation — delaying purchases but strengthening brand engagement and awareness, the survey found.
Atis Ruchirawat, head of Krungsri Consumer, an unsecured lending unit under Krungsri (Bank of Ayudhya), said the bank expects continued contraction in both credit card and personal loan portfolios this year, following a similar trend during the first nine months.
However, Krungsri projects modest growth in credit card spending.
During the first nine months of 2025, total spending via Krungsri credit cards reached 286 billion baht, up 1% year-on-year.
The bank expects total card spending to reach 400 billion baht by year-end, representing growth of around 2%.
He said the government’s personal income tax deduction scheme for domestic tourism should also stimulate spending in tourism-related sectors, particularly restaurants.