HSBC
HSBC, which was the first commercial bank to be set up in Thailand in 1888, still leads the way among its international banking peers. It’s a feat that makes it Asiamoney’s best international bank in Thailand in 2022.
HSBC remains the bank of choice in Thailand for inbound multinationals and outbound local Thai corporates. Its omnipresence certainly helps: HSBC has 160,000 outlets throughout southeast Asia’s second-biggest economy.
Although the bank maintains just one full-fledged branch in Thailand, it has had 134 years to establish deep partnerships with local banks and retail operations to support corporates to manage their cash management needs.
Under Giorgio Gamba, CEO for Thailand, HSBC harnessed its highly competitive digital platforms to continue to connect Thailand to the rest of the world.
One way it did so was by working closely with the Thai Ministry of Finance. HSBC oversaw the MOF’s biggest liability management exercise in April 2021, worth Bt129 billion ($3.6 billion), which was covered 1.15 times despite coinciding with a new wave of Covid-19 infections in the country.
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