Bangkok--17 Sep--TMB
TMB Service not affected by VOLUNTARY Early Retirement Program, as the Bank unveils a human resources development plan in tandem with a business plan towards a high-performance organization
TMB stresses that the quality of its service remains the same, following the deadline of the VOLUNTARY Early Retirement Program. TMB is committed to implementing its business plan and rewarding staff per performance, as well as focusing on investment in human resources to offer career progress within the organization while allowing staff to realize their full potentials to perform.
Mr.Boontuck Wungcharoen, CEO of TMB, summarized the outcome of the Bank’s VOLUNTARY Early Retirement Program that: “About 30% or 1,253 employees out of over 4,000 eligible employees applied. All the time, the Bank has tried its best to ensure that applications are voluntary, reflecting the free will to make decision on parts of the staff. The Bank is currently vetting these applications and decisions will be gradually announced until Friday 25 September 2009. And the whole Program will be complete on 30 September.”
Mr. Boontuck said the Bank is firmly committed to delivering excellent financial products and services. The VOLUNTARY Early Retirement Program for TMB staff has no impact upon the quality of customer service. This is because in the course of last year, TMB has implemented changes to transform the Bank into a customer-centric and high-performance organization. The exercise involved streamlining the end-to-end processes for maximum efficiency, redeployment of staff in line with their expertise as well as training and capacity-building for staff to realize their full potentials.
In implementing the Bank’s business plan, Mr Boontuck said currently all business units including its Wholesale, SMEs and Retail Banking are accelerating implementation of the plan. To date the Bank has consistently come up with innovative products and services tailored to different segments of the customers.
Mr Boontuck added that: “In parallel with the business plan, TMB gives priority to investment in human resources development. The Bank has a very clear roadmap to cultivate our own ranks of professionals who will grow with the Bank, who will become key players in Thailand’s banking sector. To this end, we have implemented a number of measures including Pay per Performance scheme, which offers incentive quarterly to reward Branch staff active in marketing financial products and first payment has already started. We have also defined a framework of performance incentives to staff in other Departments at all levels from top executive, on the basis of the Bank’s overall performance. This is effective from this year. We have also redefined duty and responsibility for greater clarity and redeploy staff in line with their expertise. Staff training and capacity building have taken place, and by end of the year, we intend to spell out clear plans on Career Development; Talent Management; Succession Plan, to ensure career path and prospects for staffers. This has been implemented through the Branch Managers’ Development Program and the SME Relationship and Zone Manager Development Program and the Bank will scale up these projects to cover other units thereafter.”
Mr. Boontuck added, “In conclusion, the VOLUNTARY Early Retirement Program does not affect TMB’s service. And due to continuing efficiency improvement efforts, our service quality will get better eventually. On the other hand, human recourses development is high on our agenda with an aim to help our staff deliver their full potential.”
TMB Bank Public Company Limited
Founded on 8 November 1957, TMB Bank Pcl. operates a commercial banking business under a license granted by the Ministry of Finance, and with consent given by the Bank of Thailand. It also operates a securities business licensed by the Ministry of Finance and agreed to by the Securities Exchange Commission.
TMB aims to respond to the needs of its clients through its 486 branch network, 108 foreign exchange centers, 2,108 ATMs, as well as electronics banking systems. Its business encompasses commercial banking, offshore banking, investment banking, and other businesses as permitted by the regulatory authorities, including acting as an insurance agent for its alliance insurance companies.
Listed on the Stock Exchange of Thailand, TMB is the sixth largest bank, by total assets, in Thailand. As at 30 June 2009, its total assets are valued at THB 568,744 million.
www.tmbbank.com
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