Bangkok--21 Nov--HSBC
HSBC has been named the Best Bank in Thailand by The Asset Magazine in its annual Triple A Country Awards 2006 for the fourth year in a row.
It was another impressive year for HSBC in Thailand as it achieved notable gains and continues to outperform the market with higher revenue growth, increasing its investment in various areas in response to a larger customer base. It introduces innovative products and services to meet clients’ requirements while contributing to the market development.
The bank continues to strengthen its retail banking franchise, resulting in the growth of its customer base of 20%. It gained a foothold in the personal loan market through aggressive marketing and successfully grew its credit card business through targeted acquisition and innovative spending programmes.
HSBC is also a leading provider of financial services to top-tier corporate and institutional clients in Thailand, arranging debt financing for such clients as Toyota Leasing, Rayong Refinery and Ratchaburi Power Company.
This year marks the 7th anniversary of The Asset Magazine Triple A Country Awards, which are conducted to identify excellence in the financial services industry. They are based on both quantitative and qualitative factors that contribute to a point score called The Asset Scoring Quotient (TASQ). Whenever possible, TASQ is further supplemented by conducting follow up interviews with the financial institutions and their clients.
The Asset Magazine is a monthly financial business magazine written for users and providers of financial services in Asia. Established in 1999 it has an average circulation of 16,211 (BPA, June 2006) of which 85% is distributed within Asia.
The Asset Magazine is part of The Asset Network, a community of leading corporate and financial executives in Asia ( www.theasset.com ) and is published by Asset Publishing & Research Ltd.
Media enquiries to Varanandha Sutthapreeda or Savittree Muadmuang on 0-2614-4606, 0-2614-4609.
Notes to editors:
1. HSBC in Thailand
HSBC was established as the first commercial bank in Thailand in 1888. With access to global expertise and enriched local knowledge, HSBC in Thailand provides a full range of financial services including corporate and institutional banking, global markets, securities services, trade finance, payment and cash management services to corporate customers; personal financial services and credit cards to a growing retail customer base in Thailand. HSBC is globally recognised for its high service standards, ethical practices and full commitment to corporate social responsibilities to benefit the local economy.
2. HSBC Holdings plc or the HSBC Group
Headquartered in London, the HSBC Group is one of the largest banking and financial services organisations in the world. The Group’s international network comprises around 9,500 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa, serves over 125 million customers and has assets of US$1,738 billion as at 30 June 2006. The Hongkong and Shanghai Banking Corporation Limited (HSBC) is the founding and principal member of the HSBC Group.