Bangkok--6 Sep--The Siam Commercial Bank
The Siam Commercial Bank Economic Intelligence Center (SCB EIC) has organized its SCB Annual Conference on the Economy (SCB ACE) under the topic of "Thailand: Tougher Challenges, Bigger Opportunities" to provide in-depth and practical analyses on the economic and financial outlook for businesses to use as input in shaping their plans and strategies. Featuring Siam Commercial Bank Chairman of the Executive Committee Dr. Vichit Suraphongchai together with prominent executives from Thailand’s top corporations, the Conference will also provide a platform to share views and insights into the upcoming challenges and business opportunities facing Thailand in 2011 and beyond.
Regarding the economic outlook, SCB Economic Intelligence Center Executive Vice President and Chief Economist Dr. Sethaput Suthiwart-Narueput noted that, "The Thai economy should grow between 3.5 — 4.5% in 2011. We see slowing growth in almost all the major world economies. Much of the recent global growth has been driven by one-off factors such as stimulus and inventory rebuilding which are wearing off. The slowing global economy will weigh on exports. Unfortunately, domestic demand is unlikely to be able to fill the gap as the overall environment next year is not that conducive to rapid growth in private demand: the baht will be stronger, interest rates and oil prices will be higher, and the overhang of political uncertainty is likely to remain.”
With regard to financial markets in 2011, Siam Commercial Bank Treasury Division Executive Vice President Mr. Chatri Sotangkur added, "It is possible that the global markets, particularly in countries in the western hemisphere, will continue facing volatility, but to a moderate degree compared with that of the past 2-3 years. Thailand and Asia are looking forward to positive growth. Rising interest rate, trade surplus, and the balance of payment will lead to a stronger baht. Interest rate increases are the result of the normalization policy than endeavors to deal with inflationary pressures."
The Bank is committed to providing information and knowledge that will be of use to both our clients and the broader community. As part of this effort, it will continue to organize the SCB Annual Conference on the Economy on a regular basis, and will work hard to ensure that the Conference remains of the greatest relevance and interest to our attendees
Siam Commercial Bank PCL is a leading universal bank in Thailand. It was established by Royal Charter in 1906 as the first Thai Bank and, as at June 30, 2010, had the highest market capitalization among Thai Financial Institutions (Baht 276 billion). It has the largest branch (999), exchange booth (112), and ATM (7,467) network in the country, attesting to its dominant position in the retail financial services marketplace. It has a diverse range of Corporate, SME, Private, and Retail customers nationwide, and has an asset size of Baht 1,266 Billion. Further information is available on the Bank's web site at www.scb.co.th.
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