Bangkok--2 Sep--Siam Commercial Bank
Siam Commercial Bank is proud to be an official sponsor of the 25th ASEAN Summit to be held in Myanmar during 9 to 11 November 2014 in Nay Pyi Taw. Each ASEAN Summit is a premier venue for meetings and discussions among the ten member countries of the Association of Southeast Asian Nations.
"The Summit is a forum for ASEAN's top leaders to collaborate closely in addressing the region's social and economic issues. SCB's support for this event reflects its efforts to promote sustainable development in the region and help Southeast Asia compete more effectively in the global arena," said Kamalkant Agarwal, Head of International Banking Business and Advisor to the Chairman of the Executive Committee, Siam Commercial Bank.
"Myanmar is ASEAN's chair this year and in May served as Summit host for the first time in its 17 years as a member, at the 24th Summit titled 'Moving Forward in Unity to a Peaceful and Prosperous Community.' With the 25th Summit, Myanmar will further demonstrate the progress of its economic and social development as the region prepares for integration under the ASEAN Economic Community by the end of next year. The Summit discussions will help Myanmar and its Southeast Asian neighbors to work thru the many challenges and forge a stronger and sustainable regional growth" Mr. Agarwal said.
Myanmar's ongoing reform efforts have gained increasing confidence from governments of neighboring countries and from international investors. With its abundant resources, large population and strategic location, Myanmar has now become one of Southeast Asia's most attractive places to do business.
Siam Commercial Bank is very keen to contribute to Myanmar's social and economic development. In this regard the Bank established a representative office in Yangon in 2012 to serve as a channel to provide business information and support for Thai customers expanding to Myanmar. The Bank has an extensive network of correspondent banks in Myanmar to strengthen its service coverage there. With the largest market capitalization at more than 573 billion Baht ($17.9 billion), and total assets of more than 2.5 trillion Baht ($78 billion), SCB is Thailand's leading universal bank.