Bangkok--16 May--TMB Bank - Initial focus on retail banking and risk management - ING Life insurance products available at all TMB branches from today TMB Bank Public Company Limited officially announces the partnership with ING Group today, with a vision to build TMB to be a top tier universal bank in Thailand. The partnership also kicks off the sales of ING Life Insurance product at all TMB branches throughout the Kingdom today. Mr. Sathit Limpongpan, Chairman of TMB Bank, said that the strategic partnership between TMB and ING heralds a new era for the Bank. With the support from ING, TMB will move forward to expand business leveraging on its large network, 50 years of experience and strong customer relationships. Both TMB and ING are confident that the partnership will help accelerate TMB’s aspiration to become a top tier universal bank in Thailand. Mr. Sathit said, “ING is one of the world’s leading financial groups with both financial and technical strengths. Since we have started working with ING, we strongly appreciate the high level of commitment ING has put into this partnership.” Mr. Philippe Damas, Chief Executive Officer of ING Retail Banking Asia Chief and TMB Director affirmed, “ING has a strong intention to raise TMB performance to a new levels. For example, ING has already seconded two senior executives to work closely with the TMB team. Mr. Ramky Subramanian and Mr. Bart Hellemans have been appointed Chief of Retail Banking and Chief Risk Officer respectively. We are confident that together we will be able to provide customers with stronger products and increase customer satisfaction.” Mr. Subhak Siwaraksa, President and Chief Executive Officer of TMB, said that the strategic partnership between TMB and ING will support TMB’s goals to expand customer base, service network, product choices to cater to the life time needs of customers. For example, combining products from TMB Asset Management, ING Life, and ING Funds, we can say that investment offering through TMB network is second to none. We are confident that the TMB-ING partnership will strengthen TMB’s position in the industry, especially in the area of retail banking sector.” He said the Bank also has a plan to expand its service network, including Internet Banking Call Center and Direct Marketing as well as Smart Banking or Cash Corner, comprising Automated Teller Machine (ATM), Cash Deposit Machine and Passbook Update Machine. TMB will install Cash Corner stations at 15 main BTS stations July this year. Mr. Subhak said the plan is not only aimed at expanding the Bank’s service network but also strengthening the Bank's brand image. Mr. Ramky Subramanian, Chief of TMB Retail and Business Banking Group, said TMB plans to introduce more innovative retail products to the Thai market from now on to gain market momentum and a leading position for TMB in the retail banking sector. He said a new bonus program called “TMB Orange Bonus” will be launched on June 1 to existing depositors to coincide with the TMB-ING partnership launch. Following the bonus program, there will be “TMB Orange Savings”, a new savings deposit product for new customers. Mr. Ron van Oijen, Regional CEO for Insurance Business, ING Asia Pacific, said, “The opportunity to develop bancassurance with TMB epitomizes ING's strategy in Asia Pacific to broaden its distribution capacity. He said "We work with a variety of banks around the region and have been able to leverage systems, procedures, and strategies from our other regional bancassurance initiatives in preparation for our launch with TMB." Rajesh Sethi, President & CEO of ING Life remarks that the partnership with TMB marks the beginning of a major new distribution channel for ING Life. In Thailand, bancassurance has been one of the fastest growing distribution channels. The new channel will be a key addition to ING’s distribution via tied agency and telemarketing where it ranks 4th and 1st, respectively. ING Life has been selected 4 new products that specially designed for TMB’s customers. First, “TMB Smart 15/8” which is targeting to medium to high-end income customers and “TMB Wealthy 25/15” is aiming to first jobbers and medium income customers. These 2 products are suitable for families’ builder or who want to save their money in long terms which know exactly the benefit received ahead. The other 2 products are “TMB Better 99/8” is specifically fit for families who want to build their security for their love and “TMB Secure” is targeting to home loners who want to secure their debt. Mr. Rajesh also added “I believe that TMB’s large customer base combined with ING Life’s products and execution strategy will quickly deliver one of the industry’s most successful bancassurance partnerships. Our products have been especially developed for TMB’s customers.” Mr. Maris Tarab, Managing Director of ING Funds (Thailand) Co.,Ltd. stated that ING has specialized in development of innovative investment by offering a diversity of mutual funds which being a great support for the customers to have more choices. In addition, with the ING Group’s competency provides the investment network that has supported the customers from all around the world and the technology in new format of investment allowing the clients receive the valuable information to make the right decision on investment and when they broaden their knowledge, as a result it would help in the business development of mutual funds in the long-run. “The effective networking of TMB Bank available throughout the country to serve the customers facilitate the support in development plan and selling funds to be more effective and ING Funds (Thailand) will distribute its products through the local branches of TMB Bank starting from June 12, 2008 onwards.