Piti Tantakasem, Chief Executive Officer of TMBThanachart Bank (ttb), has called for structural economic reform to bolster Thailand’s resilience amid persistent political instability.

He emphasised that while government changes are inevitable, the economic framework must remain strong and consistent to support long-term stability.

Mr Piti noted that Thailand has endured decades of political uncertainty, leaving businesses and the public in a continual state of adaptation.

Sluggish economic growth has further undermined the country’s economic foundation, making it essential to rebuild with durable policy architecture.

To illustrate the point, he likened Thailand’s economy to a house in need of consistent design: “Building a house requires both an architect and a constructor.

Politicians or governments are like contractors—many have taken on the job of building Thailand’s house, but almost every new one has torn down the previous design.”

In response, the private sector and leading think tanks have launched a white paper under the title Reinvent Thailand—a long-term economic blueprint aimed at restoring structural strength.

The initiative is driven by the Joint Standing Committee on Commerce, Industry and Banking, representing key bodies such as the Thai Bankers’ Association, the Federation of Thai Industries, the Thai Chamber of Commerce, the Bank of Thailand, the National Economic and Social Development Council, and the Fiscal Policy Office.

Mr Piti stressed that the effort is free of political ambition or hidden agendas; its sole objective is to bolster Thailand’s economic resilience.

While the group has not demanded adoption of its proposals, it welcomes consideration in upcoming election platforms or policy frameworks, and invites broader public participation in the effort.

On operational matters, Mr Piti acknowledged that banks continue to serve customers despite mounting economic pressures.

He noted a rise in financially vulnerable clients at the same time banks’ capacity to assist has shrunk.

With net interest margins under pressure from declining lending rates, cost control remains crucial.

ttb and other banks have reduced lending rates—including prime, minimum loan, minimum overdraft, and minimum retail rates—but have delayed lowering deposit rates, compressing profitability further.

Workforce management is part of the bank’s cost-control strategy.

Early retirement programmes remain available, with voluntary schemes open to employees aged fifty and older and a fixed retirement age of fifty‑five.

Since the merger of TMB and Thanachart Bank, ttb has streamlined its operations, reducing staff from around twenty thousand to fourteen thousand, and shrinking its branch network from roughly one thousand to four hundred.

Mr Piti’s remarks underscore a call for policy continuity and long-term planning alongside pragmatic operational adjustment—laying a foundation for both economic reform and institutional resilience.