Krungsri Aging Research Desk
Krungsri Research is the economic-research arm of Bank of Ayudhya (Krungsri / BAY), publishing Thailand-focused macro and sector research including aging-population demographics, healthcare-demand modelling, retirement-finance products, CBAM impact analysis, and digital-economy outlook. Distributed to BAY institutional clients and corporate-banking customers. Part of the Mitsubishi UFJ Financial Group (MUFG) consolidated entity since 2013.
Profile overview
Krungsri Research is the economic-research arm of Bank of Ayudhya (Krungsri / BAY), publishing Thailand-focused macro and sector research including aging-population demographics, healthcare-demand modelling, retirement-finance products, CBAM impact analysis, and digital-economy outlook. Distributed to BAY institutional clients and corporate-banking customers. Part of the Mitsubishi UFJ Financial Group (MUFG) consolidated entity since 2013.
Research programme areas
Aging demographics
Thailand aging population and dependency ratio modelling
Publishes longitudinal Thailand aging-population analysis using NESDC and National Statistical Office data. Key findings: Thailand becomes a super-aged society (20%+ over-65) by 2033, dependency ratio rising from 0.35 to 0.52 by 2040. Widely cited by Finance Ministry and healthcare policy committees.
Healthcare demand
Private hospital demand and geriatric care modelling
Produces annual Thailand private-healthcare demand forecasts: hospital bed requirements, geriatric-care service gaps, and long-term-care facility investment needs. Findings used by Bumrungrad, Bangkok Hospital Group, and Bangkok Dusit Medical Services (BDMS) for capital planning.
Retirement finance products
Provident fund and RMF product analysis
Analyses Retirement Mutual Fund (RMF) and Provident Fund market dynamics, insurance penetration, and annuity product gaps. Supports BAY's bancassurance product development (AXA-Krungthai-BAY partnerships) and Krungsri's financial-planning advisory services for HNW clients.
Peer comparison — Thai bank economic research units
Krungsri Research
Parent bank
Bank of Ayudhya (Krungsri / BAY)
Ticker
SET:BAY
Signature research
Aging demographics, healthcare, CBAM impact
KBank Capital Markets Research
BOT Research Division
Parent bank
Bank of Thailand (central bank)
Ticker
N/A
Signature research
Monetary policy, financial stability, payments
| Research unit | Parent bank | Ticker | Signature research |
|---|---|---|---|
| Krungsri Research | Bank of Ayudhya (Krungsri / BAY) | SET:BAY | Aging demographics, healthcare, CBAM impact |
| KBank Capital Markets Research | Kasikorn Bank | SET:KBANK | Macro-economics, SME sector, FX strategy |
| SCB EIC | Siam Commercial Bank | SET:SCB | Thailand GDP outlook, household debt, EV |
| BOT Research Division | Bank of Thailand (central bank) | N/A | Monetary policy, financial stability, payments |
Watchpoints 2025-2026
MUFG integration
Research alignment with MUFG global research
As BAY is fully consolidated into MUFG (Mitsubishi UFJ Financial Group), Krungsri Research increasingly coordinates research frameworks with MUFG Research and Consulting Tokyo. Japan's aging-society experience is directly relevant to Thailand's trajectory; MUFG-Krungsri joint aging-economy research is expanding.
CBAM analysis demand
Carbon border mechanism impact on Thai exporters
Krungsri Research's CBAM impact analysis for Thai steel, aluminium, and cement exporters is in high demand from BAY's corporate-banking clients preparing for EU CBAM declarations from 2026. Research team is expanding industrial-policy and trade-economics capabilities.
Digital research distribution
LinkedIn and LINE distribution scaling
Krungsri Research is expanding digital distribution via LinkedIn (institutional readership) and LINE OA (retail BAY customer engagement). Data-visualisation quality and English-language publication frequency are being upgraded to compete with SCB EIC and KBank research for policy-audience mindshare.
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