Bangkok--26 Jan--Siam Commercial Bank
Siam Commercial Bank has set a three-year strategy for sustaining its strong performance, more deeply engaging customers and further expanding its business, according to the Bank’s president, Mrs. Kannikar Chalitaporn.
Speaking to reporters a week after the bank announced a 49.9% year-on-year rise in net profits for 2011, to Baht 36.3 billion, Mrs. Kannikar said, "Our strong operating performance in 2011 reflects the Bank's resilience in responding to unexpected events, which will continue to be our top priority for this year in the light of uncertainty in both internal and external factors. The Bank is moving ahead firmly toward its goal of becoming the best universal bank in Thailand. By ‘Best Universal Bank,’ we mean that SCB will deliver the best suite of products and services to all business segments, based on our teams’ in-depth, expert knowledge of the market and customer requirements.
“In parallel with our business efforts on direct behalf of customers, the Bank will focus on responsibilities to other constituencies, namely to our employees, to the communities where we operate, and to society in general. The Bank firmly believes that engagement with all stakeholders will be a strong foundation for sustainable growth in the long term,” Mrs. Kannikar said.
To achieve its vision of being customers’ bank of choice and the best universal bank in Thailand, SCB has set a long-term business strategy that emphasizes six key factors: customer centricity, excellent services, innovation, effective risk management, staff capability and social responsibility.
For 2012, SCB expects that the business environment will continue to be volatile, due to both internal and external risk factors. Nevertheless, the Thai economy should be able to expand by 4.5 — 4.7%. To cope with uncertainty, the Bank's strategy will aim to "adjust quickly, turn crisis into opportunity, and win customers’ hearts," Mrs. Kannikar said. The Bank’s target for loan growth will continue to be 12-14% from SCB’s three business groups. These three business groups each have their own specific strategies as follows:
The Wholesale Banking Group will maintain balance between interest and fee income while continuing to build a strong business foundation and operating platform to deal with any uncertainty. The Group’s strategies are to: 1) maintain and further penetrate its existing customer base, based on its capabilities to provide in-depth expertise, and to seek new customers from both the value chain and our customers’ supply chain; 2) create value from credit customers including balance of income; and 3) build a stronger business foundation by further developing staff capability and knowledge.
The Business Banking Group, which caters to SMEs, will emphasize product and service offerings based on the concept of “customer centric.” The Bank will focus on building truly comprehensive knowledge about customers, to be able to offer a total solution that responds to their needs at every stage of life, and that creates added value for customers in each different segment. To achieve this goal, the Bank will focus on answering customer needs using a “set menu" concept that covers the customer’s business, the business owners themselves, their employees and their trading partners. In addition, the broad and strong capabilities of the SCB Group will be tapped to help develop our SME business and to offer excellent services of all sorts to our SME customers. Also, SCB Group capabilities will bring our risk management to a still higher level in order to ensure quality growth.
The Retail Banking Group will reaffirm its market leadership in the retail banking business by upgrading its full range of products and services for all customer segments. The key strategies are to build strong growth of quality loans, coupled with the deposit base, and to build product solutions meeting the specific requirements for each segment. At the same time, the Retail Banking Group will focus on upgrading its variety of service channels through the most extensive network in the country, with1,094 bank branches and 8,459 ATMs. The staff in these branches will "know services, know customers' requirements, and provide service from their hearts" in order to give customers a banking experience at a new, optimal level. Last but not least, the Retail Banking Group also places priority on dynamic risk management to be able to deal with change.
Siam Commercial Bank PCL is one of Thailand’s leading universal banks. Established by Royal Charter in 1906 as the nation’s first bank, it has the highest market capitalization among Thai financial institutions as of December 30, 2011 (Baht 396 billion). It offers the nation’s largest network of branches (1,094), exchange booths (110), and ATMs (8,459), attesting to its dominant position in the retail financial services marketplace. Its clientele includes a diverse range of corporate, SME, private, and retail customers nationwide. The Bank’s asset size is Baht 1,878 Billion. Further information is available on the Bank's website, at www.scb.co.th.
Corporate Communications Division
Siam Commercial Bank PCL
Tel. : 02-544-4502, -5401, -6421
E-mail:
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Website: www.scb.co.th
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