Thailand
LATEST ARTICLES
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The 34th annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
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Thailand wants to give almost every adult in the country money through a digital wallet. It’s an interesting step towards bringing digital finance to the mainstream.
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Kiatnakin Phatra Securities
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Siam Commercial Bank
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From the Asian financial meltdown of the late 1990s to the recent pandemic, Thailand central bank governor Sethaput Suthiwartnarueput’s career has been bookended by crises. Now almost three years into his term as governor, he may well be the right man to keep Thailand safe from another calamity – runaway inflation.
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TMB Bank boss Piti Tantakasem gamed out everything in his careful pursuit of Thailand’s Thanachart Bank. Then came Covid to help him bed down the deal.
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The 33rd annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
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UOB’s penchant for acquisitions to expand its Asean franchise is paying off handsomely in Thailand, where the bank is preparing for an even bigger boom to its business.
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This January was quite a milestone for UOB. The Singaporean bank agreed to acquire Citi’s consumer banking business in several southeast Asian countries, including Thailand.
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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.
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Bangkok Bank, Thailand’s largest bank by total assets and southeast Asia’s sixth-largest lender, has all the metrics to warrant our award for best bank for digital solutions in Thailand.
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Fifty years of building repeat business relationships with local firms – whether energy company PTT Group, conglomerates such as Charoen Pokphand Group, Bank of Ayudhya, transport outfit BTS Group Holdings and Bangkok Dusit Medical Service – can pay off in times of market turbulence. That was the case with Kiatnakin Phatra Securities over the past year, but it takes the best investment bank award for 2022 for going a step further when it comes to helping clients.
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Kasikornbank added a major feather to its cap in February when it earned S&P Global’s highest ESG scores in Asean. It also won S&P’s prestigious Global Silver Class distinction.
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Siam Commercial Bank is often celebrated for driving Thailand’s economic development over the past 100 or so years. These days, however, the bank is getting more attention for leaning rather boldly into the century to come.
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With a history dating back 77 years, Bank of Ayudhya has long been a vital part of the fabric of Thailand. It proved that time and again in the past two years, too, especially with its leadership in corporate social responsibility.
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When the United Nations Development Programme was looking for a Thai bank to partner with for financial inclusion, it called Krungthai Bank.
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In banking and finance, timing is everything. When TMB and Thanachart Bank announced their merger in 2019, it made sense: two strong names joining forces to create Thailand’s sixth-largest bank.
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he 32nd annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
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Thailand’s oldest bank is betting on its venture capital arm to drive profits and growth in the future. But is that a good strategy?
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Bank of Ayudhya-Krungsri has a reputation as a leader in corporate social responsibility (CSR) in Thailand. To see why, look no further than its programme to address one of the country’s most glaring problems: burgeoning household debt.
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State-owned Krungthai Bank, Thailand’s third-largest bank by assets, has long been regarded as rather old and crusty, and was all too often eclipsed by nimbler players who set the pace in the fast-changing digital banking landscape.
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Of all the sectors to have been crushed by the pandemic, SMEs have probably felt the most pain.
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HSBC takes the best international bank award in Thailand thanks not only to its roster of clients and strong performance over the past year, but also the way it is positioning itself for further growth in the southeast Asian country.
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Who would guess that there was a global health crisis going on from looking at the results of Thailand’s leading corporate and investment banks?
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As the first woman to head up Kasikornbank since it was founded in 1945 – and the first from outside the ranks of the Lamsam family – Kattiya Indaravijaya has already secured a place in the bank’s history.
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Women make up the majority of the workforce at banks in Thailand, but they still have a way to go before they are equally represented at the top of the banking ladder.
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The 31st annual Asiamoney Brokers Poll invited chief investment officers, fund managers and investment analysts to take part. Voters represented fund management houses, hedge fund & private equity firms, insurance companies and wealth management houses in Asia, Europe and North America.
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Thai fintech startup Finnomena has launched a digital wealth management platform aimed at the mass market. It’s the sort of innovation that is sorely needed in Thailand. But will it work?
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The country’s banks have made impressive efforts to raise their digital game. But with the economy in trouble, bankers and regulators face some tough choices.
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Bank of Ayudhya, or Krungsri as it is known locally, is Thailand’s fifth-largest bank measured by assets. But many analysts still regard the Bangkok lender, which is 72% owned by Japan’s MUFJ, as a rising star in the industry and a potential long-term rival to the big local players such as KasikornBank, Bangkok Bank or Siam Commercial Bank.
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Lending to small and medium-sized enterprises in Thailand has grown rapidly in recent years, reflecting the importance of this sector to the domestic economy. SMEs account for about 40% of GDP and employ close to 14 million of the work force.
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Thai bank customers are embracing technology in record numbers. That’s good news for the big lenders like Kasikornbank (KBank) and Siam Commercial Bank, which in recent years have invested heavily in digital banking. And with Covid-19 upending traditional branch banking concepts, the trend looks set to continue offering big dividends for the top players.
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Selecting the best international bank in Thailand is never easy given the competing claims of regional and global financial institutions who have scored high marks in capital markets business, M&A advisory, cross-border deals or digital banking. Often the bank that comes out top in one of these markets stumbles in another.
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Bangkok Bank ranks as the largest Thai commercial bank in terms of total deposits and is a leading regional bank in southeast Asia. Its long-established branch network covers nine of the 10 Asean countries, including subsidiaries in Indonesia and Malaysia.
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Siam Commercial Bank (SCB) chief executive Arthid Nanthawithaya must be wondering what will be thrown at him next. Since taking the helm in 2016, he has had to steer the bank through times of anaemic economic growth, political volatility and a Covid-19 pandemic that led to a two-month lockdown. It says a lot about SCB that despite tough operating conditions, it continues to outperform.
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Korn Chatikavanij, JPMorgan’s former Thailand boss, has been a finance minister, a fintech pioneer and a philanthropist; he is now trying to disrupt politics with a new party.
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The 30th annual Asiamoney Brokers Poll invited chief investment officers, fund managers and investment analysts to take part. Voters represented fund management houses, insurance companies, pension funds, sovereign wealth funds, hedge funds and wealth managers from around the world.
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Plans to merge TMB Bank with Thanachart Bank have raised hopes of further consolidation, but it will take a lot more than that to shake up the sector and create champion banks to compete with regional leaders.
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Pakorn Peetathawatchai, president of the Stock Exchange of Thailand, is determined to harness digital platforms and launch new products to create a model exchange for the region.
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Thailand's SCB is certainly one to watch, because if its bold plan works, it will change not just its own business but the local banking system too.
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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.
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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.
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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.
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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.
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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.
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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.
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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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Expanded rankings and additional categories, including other comparative and bespoke data, are available for purchase. Please contact Mee Ling Lee at meeling.lee@euromoneyasia.com for our data packages.