Bangkok--21 Jan--Thanachart Bank
Praphan Anupongongarch, formerly chief of auto hire-purchase business, now takes the helm of Thanachart Bank as new CEO. Having introduced his strong management team and adopted both Customer-Centric and Fast & Focused Policies, he aims at catapulting TBank to one of leading banks in the Thai banking industry. Supported by complete commitment and dedication of its staff, TBank has set high targets for 2019. In particular, the Bank aims not only to expand into all areas including auto hire-purchase loans, home loans, and deposits but also to increase the proportion of retail customers. Noteworthy is TBank's robust performance in 2018 with net profit of 14,703 million baht, representing a fourth consecutive year of profits or an average growth of 10% per annum over the 4-year period.
Praphan Anupongongarch, CEO and President of Thanachart Bank Public Company Limited, says, "As a former ordinary employee, I'm very proud to be appointed by the Board of Directors and shareholders to serve as Chief Executive Officer and President. I was previously appointed as Executive Vice President in charge of Auto Hire-Purchase Loans. Thanachart Bank has always been pursuing proactive strategies. Following the new appointment, I will continue to place emphasis on the implementation of the established business plan based on the customer-centric approach, by catering to customer needs and acting in the best interests of customers. As well, TBank will pay great attention to the 'Fast and Focused' principles of work practice which will be adhered to across the organization. In particular, emphasis will be placed on establishment of crystal clear and measurable targets, effective communication which ensures all team members share the same understanding and are motivated to strive for the same goal of making TBank one of the country's leading banks."
Thanks to its teams of experienced members who are full of determination as well as the implementation of the main business growth strategies in a continuous and sustainable manner throughout the past three years, TBank has successfully achieved a high capital adequacy ratio with total assets amounting over one trillion baht. Most recently, net profit for 2018 was 14,703 million baht, representing a fourth consecutive year of profits. In terms of average annual growth rate, the profit grew by about 10% per annum over the past four years. On the other hand, NPL ratio of 2.3% being among the lowest in the industry.
Resting on the foundation of the existing achievements, in relation to the implementation of the business plan in 2019, TBank has adopted four clear strategies and business direction. To begin with, the first strategy involves changes in management structure and establishment of new work units, ensuring that the developments are in line with the business plan and the customer journey map. The objective is for each work unit to place more emphasis on business areas. One of the changes to be introduced is the establishment of a work unit called "Enterprise Digital Banking" which is responsible for studying changes in customer behavior so that an appropriate digital strategy could be formulated. Also noteworthy is the application of the successful auto hire-purchase business management as a model to other business areas. Importantly, each business area will have its own management team responsible for overseeing sales and developing their own products from downstream stage to upstream stage. The second strategy is to transform TBank into a data-driven organization. To achieve this, the Bank is committed not only to using gathered data to drive all business areas but also to making them useful in concrete terms. The third strategy focuses on streamlining work processes and automating business workflows, aiming at delivering more efficient and more accurate services. As an example, TBank has developed a system called Automotive Lending Digital Experience (ALDX) which enables auto hire-purchase officers to provide customers with faster services. The system is quite successful, as evidenced by good customer responses. The fourth strategy is to enhance skills of staff members, ensuring that they have both deep and broad knowledge so that they are able to provide customers with financial advice that best meets customer needs in a regular manner.
To achieve the set targets for 2019, the new CEO will receive the support from his strong management team consisting of experienced executives who have an in-depth understanding of customer needs as well as the financial market and the banking system. As a team, they will serve as a pivotal mechanism for driving TBank towards becoming the country's top bank. One of the key management team members is Deputy CEO William Said who has extensive experience in cost management as well as risk management for Scotiabank in several countries including, among others, Canada, USA, Japan and China. He is responsible for corporate clients and innovative technology development. As regards Automotive Lending, Executive Vice President Pompet Rasanon will play a crucial role in retaining TBank's leadership position in the auto hire purchase industry. He has extensive experience and in-depth understanding of this business. Working for TBank for over 30 years, he is one of the key staff members who help the Bank achieve the leadership position. In relation to retail customers and SMEs which is the Bank's another main business area, Executive Vice President Anuwat Luengtaweekul will continue to be responsible for this business.
"In 2019, TBank will work towards four major goals. In particular, the Bank aims to retain its leadership position in the auto hire-purchase industry, strive for loan growth with quality, improve the ratio of deposits in current and savings accounts to total deposits (CASA) and expand the proportion of retail customers. Thanks to the crystal clear direction and strategies as well as the high quality teams, I'm fully confident that Thanachart Bank will be able to meet its 2019 targets with growth not lower than the prior year," Praphan says.