In response to the Asian financial crisis in 1997, several new organizations have been set up as part of an overall financial sector restructuring effort. Such new institutions include the Financial Sector Restructuring Authority (FRA), the Radasin (RAB), the Thai Asset Management Corporation (TAMC) and Property Loan Management Organization (PLMO). In 2003, Thai government established the Islamic Bank of Thailand. In addition, the BOT approved 10 new commercial banks, some of which are specific purpose banks specializing in residential finance. An example of this is the new bank from the ‘Land and House Group of Companies’ (which is the largest developer in Thailand), to provide residential mortgages for their customers. Overall, the Thai financial system is dominated by commercial banks, which have mobilized the greatest proportion of household savings, and are the largest residential mortgage providers.

However, the major financial institutions which currently offer credit for residential mortgages, are comprised of all commercial banks, two specialized banks (which include the GHB and GSB), finance companies, credit foncier companies and life insurance companies, (which are non-banking institutions). These financial institutions are regulated by the Bank of Thailand, except for the two specific-purpose institutions such as GHB, and GSB, which are under direct supervision of the Ministry of Finance.