Bangkok Bank is pleased to announce that its trade finance service via Contour has broken through the limitations of traditional transactions by sending fast, accurate Letters of Credit via enterprise blockchain between Thai businesses and partners in Vietnam and Oman. With Contour all transactions are digital, enhancing efficiency, simplifying costs and saving time for both importers and exporters. The Bank also joined with leading international banks to provide Cross Bank Blockchain transactions to provide even better international trade services to customers.

Bangkok Bank was the first Thai bank to join with leading global banks and organizations to establish Contour in early 2020 to provide trade finance services. Contour uses Distributed Ledger Technology, or enterprise blockchain, to enhance and digitize the entire trade finance process to make it faster and more efficient. The first successful Letter of Credit (L/C) transaction on the Contour network between a Bangkok Bank branch in Hanoi and Bangkok Bank in Thailand occurred in August last year, reducing the total time it took to open a L/C to less than one hour.

Bangkok Bank Executive Vice President Pipat Assamongkol said the bank is continually developing trade finance services via Contour to break through the limitations of traditional trade finance transactions. The most recent success extends the Bank’s collaboration with leading local and global banks to facilitate Cross Bank Blockchain transactions on the Contour network to three major customers. The Bank collaborated with SCG Chemicals, a manufacturer of petrochemical products under SCG Group, and GC Marketing Solutions Limited, the chemical flagship of PTT Group under GC Group, to facilitate their L/C transactions with their partners via leading local banks in Vietnam. The Bank also joined with Pacific Containerbag Co., Ltd. to facilitate the company’s transactions with corporate partners in Oman, opening and receiving L/C, supporting both import and export customers.

L/C transactions on the Contour network using the enterprise blockchain platform enables customers to seamlessly make digital transactions for the entire process. This enables trade partners to see real-time information, ensuring that the transaction is fast, transparent and at a lower cost when compared with traditional paper-based transactions. These types of transactions reflect current and future requirements for trade finance to be both fast and secure.

“Our continuous development of financial technology has proven that we can introduce practical innovations. Contour enterprises blockchain revolutionizes traditional trade finance providing customers with modern services using cutting edge technology. It also reduces the time and cost associated with traditional security measures while retaining the excellent services of the Bank’s international trade experts. Contour is a good blend between financial technology and the international trade business.”

Mr. Pipat said the success of the transaction and excellent feedback from customers who have made L/C transactions on the Contour network gives the Bank confidence that it is ready to provide full commercial services in the next phase.

“Services using blockchain technology will be an important step in upgrading and strengthening Bangkok Bank’s international trade services. It is an alternative way to make international trade transactions that will increase the competitiveness of business customers and meet the needs of overseas trade partners who want to adopt blockchain in their transactions. Bangkok Bank as a trusted partner is ready to help customers achieve success and compete in the global market,” said Mr. Pipat.

Mr. Thammasak Sethaudom, Vice President of Finance and Investment and CFO at SCG said, “SCG is committed to integrating blockchain technology into our services to enhance efficiency and competitiveness for our organization and our trade partners. Joining with Bangkok Bank has enabled us to make end-to-end L/C transactions on the Contour network with our two clients in Vietnam, Sai Gon Plastic Chemical Joint Stock Company and OPEC Plastics Joint Stock Company via Military Commercial Joint Stock Bank (MBBank). The new technology not only shortened the processes of opening an L/C from 3 days to 50 minutes, but also reduced the paper consumption by half and offered increased security.”

Mr. Thitipol Artsanchorn, Managing Director, GC Marketing Solutions Company Limited (GCM) said, “Blockchain technology can lead to new opportunities and benefit businesses. GCM’s mission is to improve our operational efficiencies and deliver results that go beyond customer expectations. By adopting blockchain technology and the Contour network, GCM, Bangkok Bank, and our Vietnamese partner successfully facilitated an electronic L/C issuance quickly and securely. GCM aims to provide greater service efficiencies and value to emerge as a Preferred Polymer Solution Partner for sustainable growth.”

Mr. Prinya Manatsathit, Managing Director, Pacific Containerbag Co., Ltd. said, “Our company is very glad to join Bangkok Bank in testing their L/C process using blockchain technology. It’s the first step in using modern technology to enhance the efficiency of the company’s international financial transactions. The transactions take less time, cost less and provide security and transparency that all relevant parties can see in real-time.”

Bangkok Bank would like to apologize for any inconvenience caused by its temporary maintenance of Bangkok Bank Mobile Banking on Saturday, February 20, 2021 between 01:30 a.m. - 07:00 a.m. to enhance service efficiency and better serve customers. Bangkok Bank customers will not be able to use Bangkok Bank Mobile Banking during that time.

Bualuang iBanking, BIZ iBanking and other services will be available as normal.

We apologize for any inconvenience caused. For more information, please visit the Bangkok Bank website, Bangkok Bank LINE Official or call 1333 or 0 2645 5555.

 

Bangkok Bank Senior Executive Vice President Niraman Laisathit (right) and Mr. Warawut Natpradith, Chief Operations Officer, Kerry Express (Thailand) (left), an “Exclusive Financial Partner”, extended their collaboration to enable customers of Bangkok Bank and Kerry Express to verify their identity at Kerry Express’s Be My ID service points. Customers who register to use the Bangkok Bank Mobile Banking app and use it to open an e-Savings account and verify their identity at Be My ID service points at Kerry Express parcel shops nationwide will receive a 40-baht Kerry e-Voucher for discounts on delivery fees from today - June 30, 2021 (each customer is eligible for one voucher only, and the entire campaign is limited to 100,000 vouchers). The discount will be valid until July 31, 2021.

 

Bangkok Bank has announced that customers can use their ID card to open an online account using Bangkok Bank Mobile Banking without having to go to a branch. Customers can open an e-Savings account by themselves anywhere at any time. In addition, the Bank joins Kerry Express, an “Exclusive Financial Partner”, to provide Be My ID service points at every Kerry Express parcel shop, offering special discounts of 40-baht on delivery fees from February 15, 2021 - June 30, 2021, with the aim to provide a superior digital experience to a new generation of customers.

Bangkok Bank Senior Executive Vice President Niraman Laisathit said Bangkok Bank is ready to provide an e-Savings account service to facilitate customers in opening an account online via Bangkok Bank Mobile Banking by simply showing their ID card at the Bank’s Be My ID service points. The account requires no passbook or minimum initial deposit and fees are being waived for inter-region transactions. Therefore, the service meets the needs of a new generation of customers who prefer making transactions via digital channels by themselves.

Current Bangkok Bank Mobile Banking customers can open an e-Savings account right away. Meanwhile, new customers who have never had a Bangkok Bank account can download and install the Bangkok Bank Mobile Banking app. Then, select “Open new account’ to open an e-Savings account with a debit card as well as apply for Bangkok Bank Mobile Banking, and bring your ID card to verify your identity at a Be My ID service point.

The Bank has expanded its collaboration with Kerry Express (Thailand), an Exclusive Financial Partner, to allow customers to verify their identities at Kerry Express’ Be My ID service point, in addition to bank branches. Customers will receive a 40-baht Kerry e-Voucher for discounts on delivery fees during February 15, 2021 - June 30, 2021 (each customer is eligible for one voucher only, and the entire campaign is limited to 100,000 vouchers). The discount will be valid until July 31, 2021.

Ms. Niraman said that the service was developed based on the Bank’s understanding of customer behavior in the digital age and willingness to meet the needs of customers who want to perform transactions by themselves. These needs are also in line with the current situation where people are aware of social distancing, reduced travelling and avoiding group gatherings to prevent the spread of Covid-19. Therefore, the Bank has chosen digital channels to provide easy access to perform banking transactions. Customers can open a savings account themselves with several ways to verify their identities for maximum convenience.

“The Bank continues to deliver a superior digital experience to its customers through the development of digital platforms and channels to add more capabilities to support banking transactions, investments and new financial services as well as to emphasize its status as a leading “Digital Banking Provider”. At the same time, these digital experiences should be relevant to customer's lifestyle as our commitment to be a “trusted partner” helps introduce and deliver these experiences to customers," said Ms. Niraman.

More information on opening an online account or other inquiries on special promotions can be obtained from all Bangkok Bank's public relations channels, including Bangkok Bank website, Bangkok Bank LINE Official, or call 1333 or 0 2645 5555.

 

Bangkok Bank and AIA Thailand are offering “AIA Health Happy” rider through the Bank’s branches to encourage Thai people to be prepared for health expenses. Highlights include Lump-Sum Payout, Double Coverage and Value for Money, with coverage of medical expenses up to 25 million baht per policy year. Customers buying the rider by March 31, 2021 and selecting to pay a yearly premium will get a discount of 5% on premiums.

Bangkok Bank Executive Vice President Pochanee Kongkalai said the bank is focused on all customer groups and committed to developing financial products that can comprehensively meet the needs of customers. The Bank found that Thai people are proactive about healthcare including exercise and preparing to handle healthcare expenses. The Bank and AIA Thailand, a leader in the life and health insurance business, introduced “AIA Health Happy” rider that offers lump-sum benefits on health protection with choices of protection plans which are easy to understand.

“The Bank is encouraging Thai people to have adequate health protection with medical expenses rising every year as well as illnesses becoming more complex and severe. The Bank as a “trusted partner” is encouraging customers to see the importance of having adequate health protection while helping to select AIA, a professional and experienced provider of health insurance, to offer comprehensive and effective insurance policies for customers,” said Ms. Pochanee.

Mrs. Alisa Simaroj, AIA Thailand’s Chief Strategic Bancassurance Alliance Officer, said AIA has developed this health insurance policy based on customer’s needs to ensure it matches with each customer’s condition. There are four plans available with different levels of protection, up to 25 million baht per policy year. The highlights are the lump-sum benefits for medical treatment expenses, double coverage – receive up to two times the benefits¹ for four policy years for the first critical illness² and value for money – coverage of medical expenses for both outpatient³ and inpatient treatment. The eligible customers ages are from 6 - 75 years old, and the policy can be renewed till the age of 84 years old, with the coverage until 85 years old.

AIA is also offering a special promotion during the product launch period – a 5% discount on the first insurance premium for customers buying the “AIA Health Happy” rider today until March 31, 2021 and paying yearly premiums.

Interested customers can find more information about life insurance products and other bank information from Bangkok Bank’s channels including Bangkok Bank website, Bangkok Bank LINE Official or the Bank’s branches or call 1333 or 0 2645 5555.

Notes:

¹ Conditions of protection are designated by the company.
² “Critical Illness” refers to the critical illness according to the definition of critical illness that is covered under the endorsement on critical illness coverage.
³ Coverage for medical expense when being the Out-Patient Department (OPD) is for the 25-million-baht coverage plan.
⁴ This release only provides basic information for the product launch. The Insured is advised to study all details including exceptions of the insurance policy before purchasing.

 

Bangkok Bank is encouraging entrepreneurs to use e-Withholding Tax to upgrade to a Digital Business which can enhance efficiency, reduce costs and reduce work for staff. Siam Pharmaceutical and Namsiang, both bank customers, shared their satisfying experience using e-Withholding Tax, revealing that it enhances efficiency and reduces processes and paperwork. The Bank plans to provide many more services that help with tax management to emphasize its focus on providing a full range of Digital Services.

Bangkok Bank Executive Vice President Pipat Assamongkol said Bangkok Bank as a “trusted partner” is committed to using technology in services development to support entrepreneurs, so they can operate businesses conveniently, smoothly and efficiently in order to cope with New Normal business environment. The Bank recently launched its e-Withholding Tax service to entrepreneurs as it can help businesses reduce cost, time and expense as well as simplify their tax management and check transactions online.

When payers transfer money through the Bank electronically, the Bank will automatically deduct and submit the withholding tax and relevant information to the Revenue Department. The payers do not have to file a form or submit the withholding tax by themselves. The payers also no longer have to issue a withholding tax certificate to the payees. For payers who do not submit the full amount for their tax, they can immediately make an additional payment via the e-Tax Payment system using Corporate iCash and BIZ iBanking as well as the Bill Payment service at the Bank’s branches.

The e-Withholding Tax service is suitable for organizations that have to pay for goods and services and have withholding tax transactions with many business partners, as well as organizations that want to replace manual processes with new technology. The business partners of customers who use the service will receive more money from payments, as the e-Withholding Tax service will use the Revenue Department’s special withholding tax rates, reduced from 5% and 3% down to 2%, effective from October 1, 2020 - December 31, 2022. This will also help customers to enhance their liquidity management. Customers can also take advantage of the Revenue Departments double tax deduction privilege with the expense of system development to work with the e-Withholding Tax system, from January 1, 2020 - December 31, 2022

After the launch, the e-Withholding Tax service received good feedback from many entrepreneurs who use it including Siam Pharmaceutical Group, a Thai researcher, manufacturer and distributor of international standard pharmaceutical products, and Namsiang Group, an importer and distributor of industrial chemicals from leading global manufacturers as well as a provider of technical services, formulation guidelines and prototypes for cosmetics, food and food supplements.

Mrs. Darunee Yindeepholcharoen, Finance Director, Siam Pharmaceutical Company Limited, said e-Withholding Tax is a good use of technology to develop and improve the payment process for products and services to partners/service providers, as well as a good way to issue a withholding tax certificate and submit withholding tax through electronic channels. This resulted in a precise process and reduced work and paper for both the company and its partners/service providers. Changing to a digital system has enhanced the working efficiency of the organization.

Mrs. Supang Skuntanaga, Executive Vice President, Namsiang Group, said the company has a policy to bring in technology to enhance its efficiency and competitiveness. The company has been using other digital services with Bangkok Bank and is very glad that Bangkok Bank has launched the e-Withholding Tax service. The company was not reluctant at all to apply for this service as Bangkok Bank’s e-Withholding Tax helps reduce the complexity in tax document management that requires a high level of accuracy and many staff to do properly. Using a digital system enables the company to work faster, reduce errors and increase efficiency as well as reduce business cost. The company has to thank Bangkok Bank for providing good services that proved its commitment to be a trusted partner and reliable close friend.

To facilitate entrepreneurs in their tax management, Bangkok Bank also offers e-Tax Invoice & e-Receipt and e-Debit Note / e-Credit Note to be sent to customers or their business partners via email or other channels. In addition, the VAT information will be sent to the Revenue Department electronically according to the specified standards.

The Bank is also ready to provide payment services to government agencies through electronic channels such as Customs Paperless e-Payment and Social Security Payment to help entrepreneurs save time and money while making transactions faster and more flexible, including the ability to easily check the transfer report online.

“The Bank is focusing on using technology in services development to turn all processes into digital, in line with the government’s policy to promote and grow the digital economy to cut unnecessary costs for entrepreneurs. Tax payments and costs related to document management, time and staff are something all entrepreneurs must deal with. But bringing in technology to connect entrepreneurs with this tax payment and document management system delivers a full range of tax services and helps ease burdens for entrepreneurs as well as supporting them to completely upgrade their organization to a new ecosystem,” said Mr. Pipat.

 

Bangkok Bank has prepared “Ang Pao” envelopes for customers for Chinese New Year 2021. The envelopes are decorated with images of a peony printed with a special technique called Gold Hot Stamping on red envelopes as gifts to customers during Chinese New Year 2021.

The peony is an auspicious flower which has been regarded as the king of flowers and a symbol of prosperity, wealth, honesty and honor. It is believed to bring good fortune and an auspicious year. Each year Bangkok Bank gives red envelopes to its customers for them to use when giving blessings to their families and friends during Chinese New Year.

Bangkok Bank has revealed that after opening channels for PTT Oil and Retail Public Company Limited (OR) shares for purchase online and through Bangkok Bank branches, it saw an overwhelming response from investors with over 90% subscribing via Bangkok Bank Mobile Banking and over 80% being new investors. Meanwhile, OR announced an initial public offering (IPO) price for the newly issued ordinary shares of 18.00 baht per share. The shares will be thoroughly allocated to investors to raise funds in the Stock Exchange of Thailand as planned.

Bangkok Bank Executive Vice President Thaweelap Rittapirom said that Bangkok Bank offered the IPO of PTT Oil and Retail Business Public Company Limited or ‘OR’ through two channels for subscription: via the new “Securities Subscription” feature of Bangkok Bank Mobile Banking, and through Bangkok Bank branches nationwide from January 24, 2021 - February 2, 2021 (noon). It received great attention from the public including both regular and new investors, participating in 'OR' shares subscription through both channels. 

“The Bank's participation as a subscription channel for OR shares has gained a lot of public interest both from customers who regularly invest with the Bank and from new investors who have never entered into securities subscription transactions with the Bank before. The overwhelming interest in OR shares is due to the fact that the business is already well known to the general public. In addition, the allotment was made by a Small Lot First process through the SETTRADE computer system. The first round allocated 300 shares to each subscriber, with subsequent rounds allocating a further 100 shares for each subscriber until the total reached the number of shares offered. The order of the subscription did not affect the allocation. This gave confidence that every retail investor would have the opportunity to jointly own part of the business through shareholding.”

Mr. Thaweelap added that the Bank also observed interesting investor behavior as a subscription agent for OR shares. The Bank found that over 90% of the customers subscribed via the new “Securities Subscription” feature of Bangkok Bank Mobile Banking while over 80% of them were new customers who have already used Bangkok Bank Mobile Banking but had never done a securities subscription transaction before. This reflects the current behavior of investors who always look for an investment channel that can facilitate and fit their lifestyle and uncomplicated transaction process.  For instance, those who do not have a trading account can still subscribe for OR shares. In addition, nearly 10% of investors signed up for Bangkok Bank Mobile Banking for the first time to subscribe for the OR shares.” 

“The Bank facilitated customers to subscribe to securities via digital channels as a result of the Bank’s understanding of current customer behavior and needs. This was also a good opportunity for the Bank to better understand investor behavior and receive direct feedback from customers which will benefit the ongoing development of Mobile Banking to better serve customer needs. At the same time, it shows that branches remain important to a lot of customers who seek advice from investment advisors resulting in greater customer confidence and higher investments. As a “Trusted Partner”, the Bank has to develop all channels to meet customers’ needs and support all types of customers,” said Mr. Thaweelap.

Individual investors can check the results of the allocation on February 6, 2021 at www.settrade.com

If investors have not been allocated the full amount of their subscription or did not receive their allocation and/or the final offering price is lower than the price that they have paid, the Bank will refund the difference in the method specified by subscribers on the Subscription Form or Bangkok Bank Mobile Banking.

• Transfer to deposit account: receive by February 17, 2021
• Cheque payment: receive by February 22, 2021

For more information, investors can call the OR Contact Center at 1365 or visit https://investor.pttor.com or call OR’s Investor Relations at 0 2196 5037-8, 0 2196-5964, 0 2196 5040-1 or call Bualuang Phone at 1333 or email: ir@bangkokbank.com with the subject: Subscription of OR’s IPO.

Investors are advised to study the product characteristics, returns conditions and risks before deciding to invest.

Bangkok Bank confirmed that an employee working at Setthakit 1 Road Business Center in Samut Sakhon province tested positive for Covid-19 on January 30, 2021. The Bank believes the employee’s infection likely resulted from being in close contact with a family member who contracted Covid-19.

The Bank, on January 30, 2021, cleaned and disinfected the whole building of Setthakit 1 Road Business Center, Samut Sakhon, in line with standards prescribed by the Disease Control Department of the Public Health Ministry. At the same time, the Bank has assigned all employees who were in close contact with this employee to take the Covid-19 test. So far, all results came back negative with some still in progress. Employees were also assigned to immediately self-quarantine at home for 14 days in line with the standard period outlined by the Public Health Ministry with close health monitoring.

The Bank has also contacted customers who were in contact with this employee during January 15-29, 2021 to consider taking a Covid-19 test at hospitals or self-quarantine for 14 days.

Investigation of this employee’s symptoms and travel records showed that the employee came to work at Setthakit 1 Road Business Center, alternating with working from home, which resulted in close contact with family members, one of whom were informed to have tested positive for Covid-19 on January 29, 2021. The employee got a Covid-19 test and received a positive result on January 30, 2021. The employee is now in close medical care and has exhibited no serious illness.

The Bank prioritizes the health and safety of its customers, employees, and the public by implementing strict measures compliant with the Public Health Ministry’s hygiene standards to prevent and control the spread of Covid-19, especially in providing customer service. Throughout the pandemic, the Bank has implemented strict measures consisting of social distancing, setting partitions at branch counters, mandating employees and customers to wear face masks at all times, and disallowing physical contact between staff and customers. These preventive measures are part of the Bank’s commitment to be a trusted partner to get through this crisis together with our clients.

Bangkok Bank invites customers to buy the Government Special Savings Bonds We Win to raise funds to help mitigate the impact of Covid-19 and to revive the economy. The bonds are for 5-year, 10-year and 15-year terms and answer the needs of those who prefer low risk and consistent returns. The minimum purchase is only 1,000 baht and there is no limit on the maximum purchase.

Bangkok Bank Director and Executive Vice President Mr. Thaweelap Rittapirom said that the Bank was granted the right to be a distributor of the Government Special Savings Bonds We Win in the fiscal year 2021 that are being issued to raise funds to help mitigate the impact of Covid-19 and to revive the economy. The special savings bonds are available for purchase from February 5-19, 2021 through more than 1,000 bank branches nationwide as well as Bangkok Bank Mobile Banking and Bualuang iBanking providing convenience and reducing the risk of infection from travelling to public areas in line with the government’s measures in the current situation”.

There are three types of of the Government Special Savings Bonds We Win

Type 1 5-year term with a step-up coupon rate: Year 1-2: 1.50% per year, Year 3-4: 2.00% per year and Year 5: 3.00% per year. The average coupon rate is 2.00% per year.

Type 2 10-year term with a step-up coupon rate: Year 1: 1.50% per year, Year 2-3: 2.00% per year, Year 4-6: 2.50% per year and Year 7-10: 3.00% per year. The average coupon rate is 2.50% per year.

The first two types of the bond (5-year and 10-year terms) will be sold to the public, who are individuals with Thai nationality or residency in Thailand, on February 5-15, 2021. The minimum subscription is set at 1,000 baht without a maximum limit. Altogether bonds to a total value of 55 billion baht will be available and sold through all distributing banks.

Type 3 15-year term with a fixed coupon rate of 1.80% per year will be sold exclusively to non-profit juristic persons on February 16-19, 2021. The minimum subscription is set at 1,000 baht without a maximum limit. These bonds will be those remaining from the distribution of the first two bonds.

Mr. Thaweelap said that the Government Special Savings Bonds We Win provide a medium to long-term investment opportunity for those who can accept less risk. However, they can earn consistent returns at a rather attractive rate, amid the current financial market conditions where interest rates are relatively low. Moreover, equity investments are still quite volatile as a result of the Covid-19 situation. At the same time investing in such bonds will also meet the needs of investors who would like to have consistent income as they will pay interest twice a year in February and August every year until maturity.

"Providing customers with convenience is another key factor for the success of bond selling. In addition to more than 1,000 Bangkok Bank branches nationwide, customers can also buy the bonds via our digital channels including Bangkok Bank Mobile Banking and Bualuang iBanking. Customers who already have a Bangkok Bank bond account can “Add Account” to the system immediately by performing their transaction through the "Investment" menu and select "Government Bond", then follow the steps until the end of the process. Customers or individuals who do not have a bond account with Bangkok Bank, are invited to visit our branches to open a bond account, so they can “Add Account” in Bangkok Bank Mobile Banking or Bualuang iBanking and make transactions via digital channels immediately once the bond sales open. This will provide convenience and reduce the need to make visits to the branch as well as helping to deliver a digital experience to our customers,” said Mr. Thaweelap.

For more information on how to buy the Government Special Savings Bonds We Win and the selling channels, please contact Bangkok Bank channels including Bangkok Bank website, Bangkok Bank LINE Official or call Bualuang Phone 1333 or 0 2645 5555.

Bangkok Bank Mobile Banking started the year with a bang by launching new promotions to answer the needs of consumers in the New Normal era by offering new and existing customers contactless transactions for safe shopping at home in line with the new wave of Covid-19. It is believed this will stimulate target users and overall spending to grow as planned.

Bangkok Bank Executive Vice President Prassanee Ouiyamaphan said, “Bangkok Bank Mobile Banking and various partners have co-launched new promotions for both new and existing customers in line with consumer behavior in the New Normal era. In particular, the current situation with a new wave of Covid-19 has resulted in various safety measures being raised again including Work Form Home and Social Distancing. At the same time, people want to avoid touching too many objects, particularly cash, to reduce the risk of infection.”

“In the current situation, many people have to work from home and avoid socializing according to social distancing measures. As a “trusted partner”, Bangkok Bank Mobile Banking is ready to stand by customers to get through the crisis. Therefore, we have joined with lifestyle and e-Payment partners to release promotions that enable customers to live the life they want, even while stuck at home, whether it is watching their favorite content, online shopping, or food delivery – all of which can be done via Bangkok Bank Mobile Banking. In addition to being convenient, Bangkok Bank Mobile Banking is also safe, as users do not have to come into contact with cash. Both new and existing customers will also get additional benefits from special promotions. The more they use, the more they get. By launching promotions that truly reflect the needs of customers, the Bank will be able to increase the number of new users while increasing the number of transactions via Bangkok Bank Mobile Banking to meet our target.”

This time, promotions from Bangkok Bank Mobile Banking cover various lifestyles, including eating, shopping, and entertainment in line with the New Normal era. At the same time, they will thoroughly offer special privileges to both new and existing customers as follows: 

New Customers

Customers who apply and log in via Bangkok Bank Mobile Banking by February 28, 2021 can choose privileges that match their lifestyle:

• Free 10 GB dtac internet (valid for 30 days) worth 399 baht
• Get a 100-baht discount with a minimum spending of 300 baht on GrabFood service
• Free Shopee voucher code worth 50 baht
• Free Tesco Lotus coupon worth 50 baht

Existing Customers

• Shopping: Get cash back when making a minimum required top up with a participating e-Wallet by April 15, 2021 (Customers will receive cash back the next day, credited to the account they used to top up with)
• AirPlay Wallet: Get 50 baht cash back when topping up 500 baht or more (Limited to 2 privileges/person/month, with a maximum of 300 baht cash back/person for the entire promotion period. Limited to 15,000 privileges for the entire promotion period)
• Dolfin Wallet: Get 50-baht cash back when topping up 500 baht or more (Limited to 2 privileges/person/month, with a maximum of 300 baht cash back/person for the entire promotion period. Limited to 5,000 privileges for the entire promotion period)

• Entertaining: Get a code to watch VIU Premium free for 2 months when making two cardless ATM withdrawals by February 28, 2021 (Each customer is eligible for one privilege only during the entire promotion period. Limited to 20,000 codes for the entire promotion period. Customers can claim their privileges in the Rewards menu at “My Coupons”. Customers can use the privilege until April 30, 2021. Otherwise, the customer will forfeit the privilege.)

Bangkok Bank Mobile Banking continually offers privileges to customers by collaborating with partners to provide special promotions that truly meet customers’ needs. Bangkok Bank Mobile Banking customers can easily check details of promotions and privileges via Bangkok Bank Mobile Banking and bank media including Bangkok Bank website, Bangkok Bank LINE Official or by calling Bualuang Phone 1333 or 0 2645 5555.

Bangkok Bank confirmed that an employee of a business unit based on the 26th floor of the Saengthong Thani Building tested positive for Covid-19 on January 23, 2021. The employee had been working from home since January 9, 2021, and did not come to work at the bank at any time since that date.

Though the infection occurred outside the office building, the Bank has cleaned and disinfected the 26th floor of Saengthong Thani Building in line with standards prescribed by the Disease Control Department of the Public Health Ministry.

The investigation showed that on January 13, 2021, during the time the employee was working from home, a family member of the employee tested positive for Covid-19. The employee then took a test on the same day with a negative result. Another family member then tested positive for Covid-19 on January 15, 2021. The employee took a second test on January 23, 2021 and tested positive for Covid-19. The employee is currently under a doctor’s supervision and has not shown severe symptoms. Doctors believe that the employee’s second positive test likely resulted from being in close contact with family members at home sometime between January 13-24, 2021.

The Bank places great emphasis on the health and safety of its customers, employees, and the public by implementing strict measures in accordance with the Public Health Ministry’s hygiene standards to prevent and control the spread of Covid-19, especially when it comes to providing customer service. Throughout the pandemic, the Bank has implemented strict measures consisting of social distancing, partitioned counters at branches, mandating that employees and customers wear face masks at all times, and prohibiting physical contact between staff and customers. These preventive measures are part of the Bank’s commitment to be a trusted partner to get through this crisis together.

 

Bangkok Bank responded to the latest Bank of Thailand (BOT) policy to renew Covid-19 supportive measures to help retail customers affected by the second wave of the Covid-19 outbreak by extending its assistance period for another six months to June 30, 2021 for all types of lending products through a variety of measures including reducing interest rates, extending credit lines, debt suspension and debt restructuring to help each group of customers. This highlighted the Bank’s commitment as a trusted partner who stays close and helps customers so they can cope with the challenging situation and recover to a stronger position.

Bangkok Bank Director and Senior Executive Vice President Suvarn Thansathit said Bangkok Bank is responding to BOT’s policy to renew measures to help retail customers affected by the second wave of the Covid-19 outbreak which has spread to wider areas around the country and has impacted the economy and well-being of people. To comprehensively help our retail customers, we have extended the assistance period from December 31, 2020 for another six months to June 30, 2021.

The supportive measures to help retail customers includes credit card customers, personal loan customers under supervision as well as mortgage and home equity loan customers, aiming to alleviate their financial concerns. Detailed information about the supportive measures are as follows:

1) Credit Card Customers

• Extending term loan to 48 months or in accordance with the customer’s debt service capability. Interest rate is not more than 12% per annum.
  
  In addition, the Bank has decreased minimum installment rates for all customers automatically from April 2020 to 2022, and lowered the interest rate ceiling since August 2020. The Bank also provides temporary extension of credit limits for customers who need it. 

2) Personal Loan Customers under Supervision

Revolving Loan

• Lower minimum payment rate in accordance with debt service capability.
• Extending term loan to 48 months or in accordance with the customer’s debt service capability. Interest rate is not more than 22% per annum.

Installment Loan

• Lower installments by at least 30% with lower than 22% interest rate per annum.

3) Mortgage and Home Equity Loan

• Deferring payment of principal and interest for three months; or
• Deferring payment of principal (paying interest only) for three months and consider reducing interest for customers on a case-by-case basis; or
• Reducing repayment amount by extending payment term

Customers can request for debt consolidation measures to consolidate their mortgage loan, credit card loan and personal loan that they have with Bangkok Bank into one loan to reduce financial burden.

The Bank has urgently provided support to customers, considering customers’ debt service capability. For customers who are unable to pay, the Bank will consider and ease repayment conditions further on a case-by-case basis to immediately alleviate their financial issues.

In addition to supportive measures for retail customers, the Bank continually helps business customers with measures such as proactive debt restructuring and providing financial and liquidity support including the BOT’s soft loan with 2% interest per annum for two years, for which the government pays the interest rate for customers for the first six months.

“Bangkok Bank as a trusted partner understands the current challenging situation and stays close to customers to survive and thrive in crisis together. The Bank has provided help and support to customers in all aspects. The Bank also supported customers to adapt by finding new markets and additional distribution channels, as well as organizing seminars and training to provide knowledge to customers to help them restore, adjust or expand their business, in response to new challenges in line with the Future World trend. These will help bring customers back to strength again, supported by Bangkok Bank as a trusted Partner to stay close to them at all times,” said Mr. Suvarn.

Interested customers can check for more information at www.bangkokbank.com/COVID19-Update or the Bank’s branches or business centers. Customers who are not as severely affected by the pandemic or are able to make regular repayments can use regular services and make loan repayments as per usual.

Customers can look for more information from Bangkok Bank channels including Bangkok Bank website, Bangkok Bank LINE Official or call Bualuang Phone 1333 or 0 2645 5555.

Bangkok Bank is ready for the PTTOR initial public offering (IPO) from January 24, 2021 - noon of February 2, 2021 via “Securities Subscription”, the newest feature of Bangkok Bank Mobile Banking. This feature allows customers to subscribe to securities conveniently at home and wholly fulfills the digital experience of financial transactions and investment. In order to meet the needs of all target groups, customers can also visit physical touchpoints at any open Bangkok Bank branch.

Bangkok Bank Executive Vice President Thaweelap Rittapirom said that Bangkok Bank will offer the IPO of PTT Oil and Retail Business Public Company Limited or ‘OR’ from January 24, 2021 - February 2, 2021 (noon). The offering price is 18.00 baht per share with a minimum subscription of 300 shares (equivalent to 5,400 baht) with subsequent multiples of 100 shares and no maximum subscription. The Bank will open two channels for subscription: via the new "Securities Subscription" feature of Bangkok Bank Mobile Banking, and through Bangkok Bank branches nationwide.

“In order to facilitate Bangkok Bank customers and in line with the government asking for cooperation on social distancing, the Bank as a trusted partner and reliable friend that understands customers’ needs and is ready to support customers in any situation introduced the "Securities Subscription" feature on Bangkok Bank Mobile Banking for the newly-issued OR, which will have its IPO in a couple of days, to provide convenience to the Bank’s retail investors so they can subscribe from home and do not miss the opportunity to own the OR stocks everyone is waiting for. At the same time, it also bolsters the digital experience of using Bangkok Bank Mobile Banking to be a more comprehensive service, with both investment and various financial transactions in one place.”

Mr. Thaweelap added that aside from providing the convenience of buying OR shares via Bangkok Bank Mobile Banking, the Bank also opened subscription services for OR shares at any Bangkok Bank branch as another touchpoint to completely cover all target groups. The details of the OR shares subscription in each channel are as follows:

For Subscription via Bangkok Bank Mobile Banking

Easily purchase OR shares via mobile banking without leaving your home from 9:00 a.m. on January 24, 2021 to 12:00 (noon) on February 2, 2021.

Anyone interested in subscribing can create a subscription profile at the investment menu in Bangkok Bank Mobile Banking from today onwards. You can study details of the process of creating a profile and subscribing to securities via Bangkok Bank Mobile Banking at www.bangkokbank.com/OR. The Bank’s terms and conditions apply.

For those who are interested in investing but have no account with Bangkok Bank, they can open an e-Savings account as a payment account for securities purchases via Bangkok Bank Mobile Banking. You can study details about opening a Bangkok Bank account at here.

For Subscription at Bangkok Bank branches nationwide

Interested customers can subscribe via any open Bangkok Bank branch during business hours from Sunday, January 24, 2021 to 12:00 (noon) of Tuesday, February 2, 2021. For greater convenience, customers can make an appointment to reserve a queue for the OR subscription at a branch in advance via www.bangkokbank.com/OR or via the Bangkok Bank LINE Official Account from today - February 1, 2021. Please bring your citizen ID card and passbook along when you visit the branch. To increase the speed of service to all customers, those with no Bangkok Bank deposit account can choose to pay for a subscription by scanning a QR code to pay (QR Cross Bank Bill Payment service) at the branch.

The allotment will be made by a Small Lot First process through SETTRADE in which every subscriber is entitled to receive the minimum allocation. The results of the allocation will be announced by February 6, 2021.

Before Subscription

• Subscribers can make a subscription after completing the Suitability Test. If the subscriber has never done the test, or has completed the test but the evaluation has expired, please contact any Bangkok Bank branch or access Bualuang iBanking service or click the banner in Bangkok Bank Mobile Banking to do the assessment from today onwards.
• Investment contains risks. Investors must study information in the prospectus and understand the product characteristics, returns conditions and risks before deciding to invest.

Customers can learn more about the two channels of subscription at all of Bangkok Bank's public relations channels on Bangkok Bank website, Bangkok Bank LINE Official, or by calling Bualuang Phone at 1333 or Tel. 0 2230 2328, 0 2626 3592. More information about OR companies can be found at the OR Contact Center 1365 or https://investor.pttor.com

In 2020, the Covid-19 pandemic caused the greatest disruption seen in decades to both the global and the Thai economies. Businesses, especially in the export and tourism sectors, were affected by government measures to control the spread of the virus, such as lockdowns and international travel bans. This hampered both the employment and consumption of households. In the third quarter, the government lifted city lockdowns and introduced various stimulus measures, helping economic activities to recover. However, after an initial surge in demand following the lifting of the lockdown, the pace of the rebound slowed and new domestic Covid-19 cases surged. The latter development could adversely impact the economy if infections become more widespread.

The government and the Bank of Thailand (BOT) launched a series of measures to mitigate the effects of the pandemic and to help sustain the economy, including discussing the situation with financial institutions to support debtors facing financial difficulties in systematic and appropriate ways. However, the economic recovery remains fragile and highly uncertain due to the new wave of domestic outbreaks, control measures to reduce the spread of the virus, the efficacy and distribution of vaccines, and progress of protocols for admitting foreign tourists. In this regard, the Bank continues to closely monitor the situation and maintain support for customers, while continuing to focus on its prudent approach towards credit underwriting and risk management as well as maintaining a sound financial position, and liquidity and capital reserves to support its financial sustainability.

Bangkok Bank welcomed Permata as a new member of its financial group

In 2020, Bangkok Bank, Thailand’s largest bank by total assets and the 6th largest Southeast Asian bank, acquired a stakeholding of 98.71 percent in PT Bank Permata Tbk (Permata) in Indonesia, welcomed it as a new member of its financial group and officially integrated Bangkok Bank Indonesia’s branches into Permata’s operations since December 21, 2020. This integration has made Permata one of Indonesia’s 10 largest banks by total assets. These synergies will enable the Bank to provide enhanced financial services to support customers operating in ASEAN, in line with the Bank’s strategy to strengthen its foundation for sustainable growth.

Bangkok Bank and its subsidiaries reported a net profit of Baht 17,181 million

In 2020, the Bank’s net interest income rose by 8.4 percent from 2019 to Baht 77,047 million due to the consolidation of Permata’s net interest income. The net interest margin stood at 2.25 percent. Net fees and service income and other operating income declined primarily due to lower fee income from loan related services and income from investments from the implementation of TFRS 9 since January 1, 2020. Operating expenses increased by 20.0 percent mainly due to the inclusion of Permata’s operating expenses and expenses related to integration of Bangkok Bank’s branches in Indonesia and Permata in December, resulting in the cost to income ratio of 55.6 percent.

The Bank set aside expected credit losses of Baht 31,196 million, driven the ratio of loan loss reserves to non-performing loans to 181.6 percent. This is in line with the Bank’s prudent management to provide a cushion against uncertainty from the economic contraction caused by the Covid-19 pandemic.

Throughout the global economic contraction from Covid-19, Bangkok Bank is continuing its prudent approach toward business management while maintaining a sound financial position, liquidity and capital reserves to support financial sustainability and prepare for the “New Normal”.

At the end of December 2020, the Bank’s loans amounted to Baht 2,363,338 million, an increase of 14.7 percent from the end of 2019. Excluding Permata, loans grew by 2.7 percent due mainly to increases in large corporate lending. The non-performing loan (NPL) ratio was 3.9 percent. The Bank continued to keep close control of credit underwriting and risk management while maintaining the allowance for doubtful accounts at a prudent level.

In terms of capital and liquidity, as of December 31, 2020, the Bank’s deposits amounted to Baht 2,810,863 million, an increase of 18.6 percent from the end of December 2019. When excluding Permata, deposits increased by 7.3 percent mainly from savings accounts. The loan to deposit ratio was 84.1 percent, reflecting an adequate liquidity position to cushion against economic uncertainties. Furthermore, the Bank issued USD 750 million in additional Tier 1 Subordinated Notes under Basel III regulations on September 23, 2020, to strengthen the Bank’s capital structure. At the end of December 2020, the total capital adequacy ratio, Tier 1 capital adequacy ratio and Common Equity Tier 1 capital adequacy ratio of the Bank and its subsidiaries were 18.3 percent, 15.7 percent, and 14.9 percent respectively, comfortably above the BOT’s minimum capital requirements.

Implementation of new financial reporting standards (group of financial instruments)

The Bank and its subsidiaries adopted TFRS 9 from January 1, 2020 onwards, without restating previous financial statements. The principal changes can be summarized into classification and measurement of financial assets and liabilities, calculation of impairment using the concept of expected credit loss, hedge accounting, and the change in recognition of interest income from loans using the effective interest rate (EIR) method.

 

Bangkok Bank Senior Executive Vice President Kanit Si (second from left) and Amata VN PCL CEO Somhatai Panichewa (second from right) signed a Memorandum of Understanding for Business Cooperation to promote business expansion of Amata VN as an industrial estate developer particularly for the sale of land in Amata City Long Thanh and Amata City Bien Hoa industrial estates in Vietnam. Entrepreneurs in these two industrial estates will receive support for tax benefits from the government of Vietnam. Bangkok Bank Senior Executive Vice President Dr. Kobsak Pootrakool (center) and a working team witnessed the signing ceremony which recently took place at The Bangkok Club, Sathorn City Tower, Sathorn Road.

Bangkok Bank would like to apologize for any inconvenience caused by its temporary maintenance of Bangkok Bank Mobile Banking on Saturday, January 16, 2021 between 01:30 a.m. - 06:30 a.m. to enhance service efficiency and better serve customers. Bangkok Bank customers will not be able to use Bangkok Bank Mobile Banking during that time.

Bualuang iBanking, BIZ iBanking and other services will be available as normal.

We apologize for any inconvenience caused. For more information, please visit the Bangkok Bank website, Bangkok Bank LINE Official or call 1333 or 0 2645 5555.

 

Bangkok Bank gifts Thai children with an income & expense diary for Children’s Day 2021 to build saving awareness and discipline and encourage them to save, which will help ease negative circumstances in case of crisis as well as ease the burden of their parents to save to achieve their dreams. The Bank has distributed the diaries to schools under the Bank’s support to deliver to students when circumstances permit or during school term. These are schools to which the Bank has donated buildings, schools under the CONNEXT ED program, schools under the Power of Thai project and Bangkok Metropolitan Administration’s schools, covering around 1,000 schools nationwide. In addition, the paper of the diaries is made from trees from a forest certified by the Forest Stewardship Council (FSC), which is a sustainable plantation management standard that preserves at least 10% of the area. It is also eye-care paper for children.

Bangkok Bank confirmed an employee of a business unit based on the 9th floor of the Bangkok Bank Head Office building on Silom road tested positive for COVID-19 on January 2, 2021. This employee traveled to their residence in Samut Sakhon on Friday, December 18, 2020. From then, the employee was asked by the Bank to self-quarantine at home for 14 days, considering the employee resided in a risky area. On December 21, 2020, a family member of the employee tested positive for COVID-19. The bank then assigned the employee to get a COVID-19 test on December 22, 2020, for which the result was negative. However, the employee later experienced a stuffy nose and loss of smell and proceeded to get a second test on January 1, 2021, for which the result on January 2, 2021 showed that the employee tested positive for COVID-19.

Investigation of this employee’s symptoms and travel records for the 14 days prior to testing positive showed that the employee did not come to work at the Bank or have close contact with customers or colleagues. This employee was likely to have contracted COVID-19 from a family member during self-quarantine at home in Samut Sakhon. The employee is currently under a doctor’s supervision and does not show severe symptoms.

The Bank prioritizes the health and safety of its customers, employees, and the public by implementing strict measures compliant with the Public Health Ministry’s hygiene standards to prevent and control the spread of COVID-19, especially on providing customer services. Throughout the pandemic, the Bank has implemented strict measures consisting of social distancing, setting partitions at branch counters, mandating employees and customers to wear face masks at all times and disallowing physical contact between staff and customers. These preventive measures are part of the Bank’s commitment to be a trusted partner to get through this crisis together with our clients.