Through the creation of a new SME group, boasting an expanded global footprint, SCB has been able to offer a fully customer-centric product and service offering, including an advisory service devoted to improving SME customers’ competitiveness. The business line restructure has repaid the bank well, expanding its SME loans business by 40% per annum for the past two years.
Further to initiatives within its SME business, SCB has also focused on growing its already vibrant retail business, with the acquisition of Siam Commercial Leasing, a hire purchase lending organisation which the bank expects to further bolster its leading position in the hire purchase lending market. SCB has also moved to underpin its business expansion by making strategic technology investments, including the full-scale implementation of a nationwide electronic loan origination system for corporates and SME customers, and the rationalisation of its cash management systems in order to achieve outstanding levels of customer service.
“Over the past years, we have demonstrated our ability to forge the right strategies, execute them efficiently, and learned to embrace change. The tangible results are self evident in the growth in our market share and market capitalisation,” says Dr Vichit Suraphongchai, chairman of the executive committee at Siam Commercial Bank.
“Despite the current turmoil in global financial markets, we are solidly positioned to withstand these adverse shocks, in part due to the success of our transformational change programme and, in part, due to the strong risk management culture that we have embraced as a result of this transformation.”
