Bangkok--19 Dec--TMB
Mr. Serge Devieux (second from left), IFC Director of Financial Markets, Asia and Mr. Boontuck Wungcharoen (third from left), Chief Executive Officer of TMB, meet at the US$50 million loan mandate letter signing ceremony for collaboration in their SME revitalization efforts. Witnessing the signing ceremony are Mr. Adel Meer (right), IFC Principal Investment Officer of Global Financial Markets, East Asia and the Pacific, and Mr. Thanomsak Chotikaprakai (left), Chief Financial Officer of TMB.
The International Financial Corporation (IFC), a member of World Bank Group, and TMB Bank are working together to revitalize Thai small and medium enterprises (SMEs) affected by the recent devastating flooding to get back to normal operation.
Mr. Serge Devieux, IFC Director of Financial Markets Asia, and Mr. Boontuck Wungcharoen, TMB Chief Executive Officer, recently signed the mandate letter of the 3-year US$50 million — approximately THB1,550 million — at TMB Phaholyothin Office.
Boontuck said, “The additional funds from IFC will help expand the Bank’s program which has been established to accelerate customer recovery from the direct and indirect impact of flooding which occurred in the country during the past two months. We thank IFC for generating resources to support SMEs and continued economic growth in Thailand.”
Mr. Devieux said, “As a development institution focused on the private sector, IFC is committed to helping Thai businesses affected by the flooding. By partnering with TMB, we are looking to provide financing to businesses, especially small and medium enterprises to recover from the flooding and continue growing.”
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit www.ifc.org
About TMB
TMB’s Make THE Difference philosophy aims to improve the lives of banking customers through innovative financial solutions that fulfill their unmet needs. TMB aims to respond to the needs of its clients through its 460 branch network, 91 foreign exchange centers 2,321 ATMs, as well as electronics banking systems. Its business encompasses commercial banking, offshore banking, investment banking, and other businesses as permitted by the regulatory authorities, including acting as an insurance agent for its alliance insurance companies.
TMB is pioneer in innovative financial product and service offerings. These include the TMB No Slip Banking Transactions, TMB No Fee Savings Account, TMB No Limit Debit Card, TMB Up & UP Term Deposit, TMB SME 3 Times Express Credit, TMB SME No Fee - Max, TMB Saver and Saver Plus banking fee saver package for business, state-of-the-art TMB Trade Finance Solutions, TMB Supply Chain and Business Solutions and its most recent TMB No Fixed product.