Bangkok--4 Mar--SCB
Siam Commercial Bank PCL (SCB) reveals its Business Banking strategies for 2009. SCB will fully support clients as their business partner, build up a network among entrepreneurs, and increase its service potential under the concept “client is the heart”. Moving toward the leading position, SCB will offer a comprehensive range of financial products and services that answer SMEs' needs. The Bank aims at a 5% lending growth, while minimizing NPL to be lower than 5%.
SCB Executive Vice President, Business Banking Group, Dr. Vivat Kittiphongkosol noted that in this year the overall loan demands and investments among SMEs would slow down in line with the economy, and banks would support their client more closely. For this year, SCB will continue its financial support for SMEs as usual, targeting a lending growth at 5%, the same as last year. The Bank's total SME loan of 250 billion bath approximately. this year SCB will expand its client base to reach more small-sized enterprises, which are in need of a lot more help in terms of financial support.
In 2009, SCB will further play up its strategies to be the clients' business partner and build up a network among entrepreneurs to increase opportunities for business value adding. At the same time, the Bank will continue developing a full range of products and services with flexibility as the key feature to satisfy the diverse client needs in each business sector. The Bank will also continue activities under the “Bai Pho Business Forum” program to enhance the clients' potential, by inviting experts and gurus from various fields to provide entrepreneurs in each industry with insights, practical strategies, advice, tips, and solutions. As for credit quality, SCB emphasizes close credit quality monitoring and close client support to help the clients grow vigorously and to expand the client base to reach new quality entrepreneurs.
SCB also has a policy to develop its personnel to be ready to be the clients' quality advisor under the concept “client is the heart”. The Bank has reorganized its Business Banking operations for more flexibility, by embracing two new executives, namely, Mrs. Wareemon Niyomthai as Executive Vice President, Business Banking Bangkok Division responsible for SME clients in Bangkok, and Mr. Piti Krasaesian as Senior Vice President , Business Banking Group responsible for product and service development to respond to the client needs and business competition.
Dr. Vivat further added, “The year 2009 is a big challenge for Thai SMEs, for they have to cope with impacts from the global economic crisis. Yet, opputunities are out there, with positive factors including the government's economic stimulas package in form of short-term allowance and mega project investments, the declining interest rates, and the trends of cheaper commodity prices. SMEs should adapt to the changes by focusing on product development to match the changing market demands, brand strengthening and differentiation, and effective liquidity management. Investments in fixed assets should be put off for clearer economic situation.”
With a team of experts, SCB is ready to be Thai SMEs' business partner to provide advice to propel their sustainable growth. The SCB Business Call Center at 02-722-2222 is ready to answer all SMEs' needs of financial products and services.
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