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BUSINESS EXPANSION
Thai banks set to expand across region
Sucheera Pinijparakarn
The Nation


Deja Tulananda

BANGKOK: -- Thai banks plan to open more branches in other countries in the region, including Cambodia and Vietnam, as they prepare to have a role in increasing trade and foreign investment in Asean.

Bangkok Bank, the country's largest by assets, will reopen a branch in Cambodia. Although that country's economy is small, the bank has determined that having a presence there could help it make investment and trading connections with regional companies, BBL executive vice chairman Deja Tulananda said.

BBL will consider opening branches in other Asean countries when it sees its Thai customers setting sufficient footprints in those markets. However, the goal of its re-entry to Cambodia is to support financial services for non-Thai companies.

Deja said the bank would focus on corporate customers doing business in Cambodia, noting that the sugar industry had high potential, followed by retail.

Meanwhile, the bank also plans to open one or two more branches in Vietnam, where it already has two in Ho Chi Minh and Hanoi, he said.

The Vietnamese government is restructuring the economy and amending regulations to stimulate economic growth and attract foreign investment, which would present opportunities for the banking industry, he said.

Krungthai Bank, which has two branches in Cambodia, is upgrading its financial-services centre in Chong Jom, a border town in Thailand's Surin province, to a branch to cash in on rising border trade, first senior executive vice president Weidt Nuchjalearn said.

He said the prospects for trade and investment in Cambodia were brighter than in Laos because Cambodia has a greater population, providing a market for Thai consumer products and services.

Meanwhile, Kasikornbank plans to establish a 'footprint' in Vietnam and Indonesia. In the first phase, it will open representative offices in those countries to offer trade-finance services to Thai companies, said president Predee Daochai. It will upgrade these offices to branches as the next step.

He said the bank last month also submitted a proposal to Laos to reopen a branch there. It is expected to be opened this year.

KBank is the only Thai bank that is active in China apart from BBL, which has acquired local-bank status in that country. KBank recently opened a sub-branch in Longgang district of Shenzhen.

Predee said the bank had a full branch in Shenzhen but its customer base there has outgrown its capacity to serve them adequately. Therefore, opening a sub-branch was the proper choice because the investment cost was reasonable. Still, the sub-branch will not be able to handle deposits and cash withdrawals like the full branch.

KBank's Shenzhen branch will be the head office, and the bank may consider opening additional sub-branches to serve its Chinese customers.


-- The Nation 2014-04-14

[noitom]

Thai banks plan to construct a "footprint" in these other countries like Vietnam and Indonesia. of course there is no risk because Thai banks provide the tightest security on their web site and ATM networks that one could possibly find anywhere. Thai security and DSI are prepared to monitor these banking "footprints" so as to be able to isolate and track where the frauds originate. Thais banks can now offload some of their extensive money laundering activity to these footprint locations and when exposed, they can blame the Vietnamese and Indonesians.

[chainarong]

The banking sector in Thailand is a little back ward , compared to western banks , in as much as net banking and transferring funds and old pass book features, they will need to lift their game , restrictions and rules placed by the IMF on them after the 1997 Thaitanic melt down ,see's Thai banks in a good position financially and fortunately enough will not cower to the PTP and go against their Company banking charters, Thai banks are held in high regard in international circles ,the ANZ from Oz went Asian years ago and has done well in this area, as I said ,Thai banks lag a little on some issues.

[antimedia]

One thing these banks have to do, is stop fiddling with exchange rates on international transfers, they are skimming of the top.

[noitom]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

The banking sector in Thailand is a little back ward , compared to western banks , in as much as net banking and transferring funds and old pass book features, they will need to lift their game , restrictions and rules placed by the IMF on them after the 1997 Thaitanic melt down ,see's Thai banks in a good position financially and fortunately enough will not cower to the PTP and go against their Company banking charters, Thai banks are held in high regard in international circles ,the ANZ from Oz went Asian years ago and has done well in this area, as I said ,Thai banks lag a little on some issues. width=32 alt=coffee1.gif>

And the "on shore" and "off shore" rates. Everyone knows that Thai banks are scamming. And when was the last time you read about a Thai banker being hauled off and arrested for money laundering or swindling?

[chiang mai]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

The banking sector in Thailand is a little back ward , compared to western banks , in as much as net banking and transferring funds and old pass book features, they will need to lift their game , restrictions and rules placed by the IMF on them after the 1997 Thaitanic melt down ,see's Thai banks in a good position financially and fortunately enough will not cower to the PTP and go against their Company banking charters, Thai banks are held in high regard in international circles ,the ANZ from Oz went Asian years ago and has done well in this area, as I said ,Thai banks lag a little on some issues. width=32 alt=coffee1.gif>

And the "on shore" and "off shore" rates. Everyone knows that Thai banks are scamming. And when was the last time you read about a Thai banker being hauled off and arrested for money laundering or swindling?

What onshore and offshore rates are those then, pray tell?

[chiang mai]

One thing these banks have to do, is stop fiddling with exchange rates on international transfers, they are skimming of the top.

Do tell us more as to how they are skimming, Thai banks exchange rate margins are some of the lowest anywhere in the world, if you want to see skimming on exchange rates try changing currency in the UK.

[oldsailor35]

OMG ! there are branches just about on every street corner here. In other countries such as UK or Australia there will be only one in every town. It must cost these banks a fortune in upkeep, not a very good financial decision i should think.

[chiang mai]

The difference being that the cost of land, construction and the labour needed to operate branches in Thailand is a mere fraction of what it might cost in the UK or Australia.

[Calimotty]

One thing these banks have to do, is stop fiddling with exchange rates on international transfers, they are skimming of the top.

Lets face it they can't and never will be able to, (Help Themselves)

[bangon04]

Is this a good example of the benefits of AEC membership? Thai Banks will expand into neighbouring countries to take advantage of new opportunities. Meanwhile they will keep their protectionist backward attitude in order to keep out real banks from competing fairly within Thailand. If HSBC were allowed to enter the Thai market in fair competition, the Thai banks would be forced to modernise or be wiped out.

[how241]

The difference being that the cost of land, construction and the labour needed to operate branches in Thailand is a mere fraction of what it might cost in the UK or Australia.

+1....Overall, I think Thai banks are easier to deal with then USA banks. IMHO.

[NongKhaiKid]

Better customer relations wouldn't go amiss too as it's one thing to be greeted by a beautiful young lady who ensures you get the correct slip for a queue number then be told, as I have several times, that I have to go to the branch that holds my account to get some things done.

This has happened when I tried to get a new ATM card and later deposit cheques from the British tax man, Yes I actually got a rebate.

Since I live in Udon Thani and the account in question was opened in Bangkok the couple of hundred Baht for a new card paled in comparison with a round trip to Bkk. I only got a new ATM card when I took a Withdrawal Slip and filled in the exact amount I had in the account, the bank officer dealing with me disappeared into the back offices, spoke with ' someone ' and returned to announce she could issue a new card.

The ' go to the branch that holds your account ' seems to be a convenient ' excuse for all seasons '.

[Baerboxer]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

The banking sector in Thailand is a little back ward , compared to western banks , in as much as net banking and transferring funds and old pass book features, they will need to lift their game , restrictions and rules placed by the IMF on them after the 1997 Thaitanic melt down ,see's Thai banks in a good position financially and fortunately enough will not cower to the PTP and go against their Company banking charters, Thai banks are held in high regard in international circles ,the ANZ from Oz went Asian years ago and has done well in this area, as I said ,Thai banks lag a little on some issues. width=32 alt=coffee1.gif>

And the "on shore" and "off shore" rates. Everyone knows that Thai banks are scamming. And when was the last time you read about a Thai banker being hauled off and arrested for money laundering or swindling?

The same can be said for Swiss bankers, and the banking industry in many other countries.

Steal a million and your a crook who nobody wants to do business with. Steal billions and they queue up for your "business".

How many bankers in the West were charged, tried, punished and convicted over the last 10 years? How many still pay themselves massively inappropriate bonuses and expenses?

Not just a Thai issue by a long chalk. Thai banks suffer from the poor leadership, poor quality of service, and lack of responsiveness from the over staffed employees that plagues many organizations in Thailand. They also can't help themselves "penny pinching" and scamming whenever they can thanks to their highly protected market.

Wonder if other foreign banks will be allowed to compete in Thailand on a level playing field?

[sputjam]

Bangkok bank has a branch in KL since the sixties due to malaysia's first PM being educated in bangkok when he was very young and relations between the two country was warm and cordial.

But there was no expansion into other malaysian cities or areas. That building, Bangkok bank was a landmark in KL and was on many bus routes.Nowadays, not many people know the building anymore as it is dwarfed by newer landmarks. The second branch after 50 years in Malaysia will be opened in a new office block along jalan ampang behind Hard rock cafe.

[marcusd]

One thing these banks have to do, is stop fiddling with exchange rates on international transfers, they are skimming of the top.

every bank does it. Makes then gazillions!

Marcusd. Via tapatalk

[tonbridgebrit]

Go on, Thailand.
Your banks are better (bigger, have more capital) than the ones in, in Cambodia, Burma, and Laos. Carry out 'conquest by capitalism' on those countries.

Surely, you are going to able to carry this out ??