BANGKOK, May 31--Xinhua-PRNewswire-AsiaNet/InfoQuest
ING Wholesale Banking's ING Advisory has announced that it has been mandated by Krung Thai Bank (KTB), Thailand's second largest commercial bank by assets and the country's largest lender, to assist in the reorganisation of KTB's management and the organisation structure. The project includes providing KTB's management with advice to implement changes, which will help the bank meets its future financial and strategic goals efficiently.
ING Advisory has been specifically requested to support the optimisation of the organisation's structure according to international best practice, while adhering to pertinent regulatory requirements. The recommended organisation structure will provide the bank with clear guidance on the principal
responsibilities and reporting lines that will support an improved management
function. The advice will also focus on individual business units and outline
their composition, roles and reporting structures. The project will take be undertaken over a three month period.
ING Advisory will also submit a migration plan to management to implement the suggested changes according to a pre-defined timetable. The consultancy services ING Advisory will provide intend in particular to concentrate on the sales, product management and risk management areas of the bank.KTB provides a full range of financial services through its head office in
Bangkok and its extensive branch network. Currently, the Bank operates through
618 domestic and seven foreign branches and sub-branches, with approximately
15,000 employees. The bank was originally established in 1966 through the
merger between Agricultural Bank Limited and Provincial Bank Limited. The Financial Institutions' Development Fund is the majority shareholder.
ING Advisory is an integral part of ING Financial Institutions, ING's main point of contact with financial institutions clients. The division undertakes financial sector (bank, insurance, pension fund) advisory and restructuring projects including so-called "twinning" projects and interim management assignments for terms of up to three years with a strong focus on the hands-on implementation of restructuring assignments.
ING Advisory has developed a core group of specialist advisers with proven international experience and skills in the financial services industry, and capable of providing a tailor-made service. Its clients include private
commercial banks and insurance companies, sovereign governments and international financial institutions, including the World Bank, and the European Union.
ING is a global financial institution of Dutch origin offering banking,
insurance and asset management to over 60 million private, corporate and
institutional clients in over 50 countries. With a diverse workforce of over
113,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.
ING Wholesale Banking is the investment and commercial banking division of ING Group and in Asia focuses on providing high-value-added products and
services to its clients, including structured finance, debt capital markets, mergers and acquisitions advisory and syndicated loans, supported by its anchor
products in lending, cash management and treasury.
ING Advisory, previous known as the Institutional & Government Advisory
group, is an independent advisory unit of ING Group. Founded in 1989, it
specialises in bank advisory services, pension and insurance-related advisory
work, and debt advisory services for its clients. To date, ING Advisory has
successfully completed nearly 100 projects in more than 40 countries spanning
Asia, Africa, Europe and South America. For more information, please visit
www.ingadvisory.com .
Press enquiries:
ING
Karen Williams
Tel: +852-2913-8536
Email: [email protected]
SOURCE: ING
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