In a flat economy, the bank has succeeded in balancing growth with returns, while improving asset quality and risk management. The group is also seeking to grow its market share in the consumer and SME banking segments in Thailand and expand its fee income base.
Bangkok Bank is broadening its coverage of China with a new branch in Shenzhen and it plans to gain a domestic banking licence in China. In SME banking, it is focused on supporting customers’ efforts to improve their competitiveness to enable them to become an important part of the supply chain in export markets. The focus is mainly on high-growth sectors, such as the hotel and automobile industries.
In consumer banking, Bangkok Bank is growing its mortgage sales by working in partnership with property developers, expanding its network of sales outlets and brand visibility as well as fee-based income with the expansion of its investment products, like mutual funds, bancassurance and savings bonds. An impressive distribution capability and large customer base, with about 16 million retail accounts, were key factors in Bangkok Bank’s appointment as distributor of three-year government savings bonds, further broadening investment opportunities to customers.
The group has formed an alliance with the Bangkok Skytrain operator BTS to introduced Thailand’s first debit card with a contactless chip that can be used as a transit card on the BTS system.
“Bangkok Bank is delighted and honoured to receive this prestigious award, which is a reflection of the commitment, hard work and dedication of the people in the bank,” says president Chartsiri Sophonpanich.
“The bank remains firmly focused on Thailand’s market; however, we are also supporting customers who wish to expand their operations in key growth markets such as south-east Asia and China, where we have an overseas network of about 20 branches.”
