Thailand

TMB Bank is in a class of its own when it comes to making a difference to the lives of under-privileged children and communities in Thailand. Led by chief executive Piti Tantakasem, TMB ranks as the seventh-largest commercial bank by assets. It launched a programme known as Fai-Fah (‘the power of giving’.) in 2009, with the aim of helping poor community children to unleash their full potential.

Private banking is one of the sweet spots in Thailand’s banking industry. The combined wealth of the nation’s richest people is expected to top $400 billion in 2020, yet this pool of high net-worth individuals still remains relatively untapped.

United Overseas Bank Thailand is something of a minnow in the local banking scene. It has total assets of Bt557 billion ($18 billion), less than one fifth of the size of Siam Commercial Bank and Bangkok Bank, and 150 or so branches. Under chief executive and president Tan Choon Hin, the bank is blazing a trail on the digital front.

Thailand has never been an easy market for foreign banks to crack: just witness the sale by Standard Chartered Bank of its retail lending business to Tisco Financial Group at the end of 2016. So all the more credit to Citi, which not only stayed for the duration, but has transformed itself into a powerhouse.

Bangkok Bank has a long history as a big player in Thai banking, with an impressive roster of corporate clients and an unrivalled international network of 32 international offices spanning 15 countries.

Thailand has roughly three million small and medium-sized enterprises that account for about 40% of GDP and employ a disproportionate share of the workforce. It is no surprise then that local commercial banks fight hard for a share of the SME market.

The Thai banking sector had another difficult year in 2018 thanks to a relatively slow economy, the high costs of digital rollouts and muted activity in the local capital markets.

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