Bangkok--16 Jul--Bangkok Bank
Bangkok Bank has once again received international recognition by Global Finance magazine as ‘Best Sub-custodian Bank in Thailand.’
“Bangkok Bank is honored and proud to have been named for the sixth consecutive year as Global Finance magazine’s Best Sub-custodian Bank in Thailand,” said Bangkok Bank Executive Vice President Pornnit Dunnvatanachit.
A leading financial and banking magazine based in the New York, Global Finance awarded Bangkok Bank the title for its strength in service quality, client relationship management, standardized and modern technology platform supporting the service and its business continuity plans. Bangkok Bank is a Thai bank which provides a full-range of custodial services to international and domestic financial institutions, and this reflects its high standards of business operations which are recognized internationally.
As of December 31, 2012, Bangkok Bank’s asset under custody consisted of 40 percent from clients within Thailand and 60 percent from overseas clients. Bangkok Bank’s operating systems for providing the custodian services are in full compliance with rules and regulatory standards from the Bank of Thailand, the Securities and Exchange Commission (SEC), and the US Securities and Exchange Commission’s 17F-5 and 17F-7 rules. Bangkok Bank is continuing to develop its operating systems and personnel to provide a full range of securities services to corporate investors both internationally and domestically. The bank’s other strengths include its fully qualified custodian bank that has been continuously served offshore institutional investors for more than 20 years with the expertise of SWIFT facility and its "iCustody" online platform allowing investors to access their reports conveniently and efficiently.
Global Finance editors and reporters, with input from expert sources, selected the winners from the institutions that reliably provide the best custody services in local markets and regions to global custodians. Our criteria included customer relations, quality of service, competitive pricing, smooth handling of exception items, technology platforms, post-settlement operations, business-continuity plans and knowledge of local regulations and practices.
“At times like these, when markets are volatile and uncertain, sub-custodians are called upon to provide intelligence on local markets and sudden changes in regulations and practices,” said Joseph Giarraputo, publisher of Global Finance. “We have identified those banks that do the best job of providing the high-quality services, advice and assistance that today’s increasingly sophisticated customers have come to expect,”
An Awards Ceremony for all winners will be held during SIBOS (Swift International Banking Operations Seminar) on Wednesday 18th September 2013 in Dubai, United Arab Emirates.