Thailand, an emerging market economy, is recognized as Southeast Asia’s second-largest economy, with enviable growth over the years—however, its growth has slowed in 2019. Its export-led economy is feeling the pinch from the global economic slowdown, currency appreciation and trade squabbles between the world’s heavyweights. The new government of Thailand is committed to utilizing this captivating nation’s many attributes, keeping it at the forefront of the region’s innovation and investment.
Mr. Simon Hughes of International Banker interviews Mr. Arthit Sriumporn, Senior Vice President Commercial Banking, Siam Commercial Bank on the bank’s digital strategy, the philosophy of sufficiency economy and the company’s goal of being the most admired bank.
Thailand, the second largest economy in Southeast Asia after Indonesia, boasts a varied industrial landscape, with all bases covered from manufacturing to tourism. Kiatnakin Bank Thailand is on a mission to pursue operational excellence in each core business in commercial banking and capital markets. Our interview with Mr. Aphinant Klewpatinond, CEO, provides an in-depth look at a multi-faceted bank thriving in the heart of this seminal unitary state.
Thailand, the second largest ASEAN economy, is increasingly at the forefront of the digital-finance push in the region as part of the Government’s Digitization 4.0 strategy. With its citizens readily embracing technology and especially mobile solutions, Thailand’s financial-services providers have been heavily challenged to put aside traditional approaches and transform radically to compete with the tech giants, the new titans of e-commerce. One Thai bank, Siam Commercial Bank, has made great strides advancing in the digital age.
Can a bank be a friend to its customers in their times of need? Thailand’s Krungthai Bank thinks so, and that is why it has stood behind all of its customers since its beginnings 50 years ago through thick and thin, including devastating natural disasters. State-owned KTB proves that banking customer service can indeed go that extra mile and still be profitable.