Thai banks go int’l with wholesale banking
BANGKOK: Asia's burgeoning economic growth is creating greater opportunities for Thailand's corporate banking sector as several banks turn their eyes abroad.
The solid fundamentals of the country's financial and real sectors are translating into increased business opportunities for foreign investment, particularly in regional markets. Negative factors such as the recent US financial crisis and European public debt problems have led to greater weakness in the West while opening up opportunities in the East amid strong growth led by China and India.
Large Thai corporations immediately began taking advantage of the new opportunities in the wake of the 2008 US financial crisis, particularly mergers and acquisitions (M&As) of foreign assets at attractive prices.
Thai banks are positioning themselves to meet the challenge in terms of both financial and non-financial services.
Bangkok Bank (BBL) has opened three new branches in Malaysia this year to support Thai clients investing in this high-growth country. A fourth new branch will open next year, and the bank is exploring network expansions in India and Indonesia.
With 24 networks in 12 countries mostly in Asia and long-running international operations, BBL enjoys the greatest advantage among Thai banks in this regard. Besides its corporate clients, the bank also helps small and mediumsized enterprises to expand their operations abroad, reflecting strong potential for both it and its clients in the international arena.
BBL, Thailand's largest bank in terms of total assets at 1.8 trillion baht, is the fifth largest in Asean. -PB News