Bangkok--12 Oct--Siam Commercial Bank
In line with its key principle of placing its customers at the heart of everything it does, Siam Commercial Bank is raising its strategic structure to another level and reaffirming its mission of becoming a Premier Universal Bank offering quality financial products and services across all market segments. The changes will equip SCB to meet new challenges and emerge as The Bank of Choice.
Describing this new strategic move, Siam Commercial Bank Chairman of the Executive Committee Dr. Vichit Suraphongchai noted that, "By adopting the vision of being the "Bank of Choice", Siam Commercial Bank is placing a priority on its customers, shareholders, employees and community amid an ever-changing business landscape and tightening competition. With increasingly complex demands, the Bank saw the need to reorganize its structure based on the concept of placing its customers at the heart of everything it does. The reorganization will enable the Bank's expert staff to deliver world class products and services that meet customer demands under the umbrella of the SCB Group.
SCB has been reorganizing its front office since the beginning of this year. Under the reorganization, business groups will be divided into four groups to meet demands across all market segments and increase their readiness for competition. It will also provide an opportunity for SCB staff to fully demonstrate their management capabilities. Duties and responsibilities of each business group will be clearly segregated and specialized, with capable staff managing each group to ensure that customers are well served. The Business Banking Group was the first group to operate under the new structure, while three other groups will begin operating under the reorganization on January 1, 2011. Details of the four groups are as follows:
1) The Business Banking Group will be responsible for delivering a full spectrum of financial services to SME customers with turnover from 10-500 million baht per year. This group has strong potential and contributes to the bulk of Thailand's economic growth. The Business Banking Group was reorganized early this year under the lead of Senior Executive Vice President Mr. Sirichai Sombutsiri.
2) The Retail Banking Group will be responsible for retail customers, including small SMEs or SSMEs. The Bank has been a clear market leader in the retail banking business and will continue offering a variety of services, including savings accounts, investment products, bancassurance, home loans, credit cards, and car loans. The Bank also places a high priority on convenient services, with an increased number of branches and ATMs to meet the demands and changing lifestyles of customers. This Group is headed by Senior Executive Vice President Mr. Yol Phokasub
3) The Wholesale Banking Group focuses on large and multinational corporations operating in all major industrial sectors, and the government sector. These organizations are expected to have the highest growth potential for loans. The Bank aims to be a 'Total Solution Provider' in terms of finance and a variety of sophisticated products and services, including advisory services. This Group is headed by Senior Executive Vice President Mr. Arthid Nanthawithaya.
4) The Special Assets Group possesses expertise in providing practical advice for restructuring debts for customers adversely affected by changes in the economic environment. The Group will tackle problems at an early stage in order to solve problems in a timely manner and avoid or minimize problem debts. This Group is lead by Senior Executive Vice President Mr. Sarunthorn Chutima.
Duties and responsibilities have clearly been defined for each group, but they will continue working closely together to offer World Class products and services under the policy framework of the SCB Group. Shared Services Groups such as the HR Group, Finance Group, IT Group, Risk Management Group and others will provide support to contribute to the continued progress of the organization at full efficiency.
Apart from increasing SCB's competitiveness, this reorganization also aligns with the Bank's policy of "Meeting Every Customer Demand" through real insight into their businesses. It will also allow staff to demonstrate their potential and business skills, supporting career growth and offering opportunities for capable staff to utilize their business management skills. Importantly, it brings the Bank a step closer to fulfilling its mission of being The Premier Universal Bank. SCB firmly believes that the reorganization will benefit all stakeholders in jointly achieving the Bank's aim of being ' The Bank of Choice'.
Siam Commercial Bank PCL is a leading universal bank in Thailand. It was established by Royal Charter in 1906 as the first Thai Bank and, as at September 30, 2010, had the highest market capitalization among Thai Financial Institutions (Baht 351.8 billion). It has the largest branch (1,005), exchange booth (114), and ATM (7,678) network in the country, attesting to its dominant position in the retail financial services marketplace. It has a diverse range of Corporate, SME, Private, and Retail customers nationwide, and has an asset size of Baht 1,363 Billion. Further information is available on the Bank's web site at www.scb.co.th.
Top Executives
Siam Commercial Bank Public Company Limited
From left:
Mr. Sarunthorn Chutima, Senior Executive Vice President, Special Assets GroupMr. Sirichai Sombutsiri, Senior Executive Vice President, Buisness Banking GroupMrs. Kannikar Chalitaporn, PresidentDr. Vichit Suraphongchai, Chairman of the Executive CommitteeMr. Arthid Nanthawithaya, Senior Executive Vice President, Wholesale Banking GroupMr. Yol Phokasub, Senior Executive Vice President, Retail Banking Group
Corporate Communications Division
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