Bangkok Bank is launching a new version of Bangkok Bank Mobile Banking with a new design for a better experience in the age of New Normal and Mobile First. The Bank aims for 11 million users by the end of this year.

Bangkok Bank Executive Vice President Prassanee Ouiyamaphan said the Bank’s mobile banking application Bangkok Bank Mobile Banking has been redeveloped. The Bank has responded to customer feedback by creating a new design and providing a better and more satisfying customer experience. The app will be easier and more convenient to use with several new features, including:

• New and modern design and the addition of easy-to-read streaming charts.
• Quick access to transactions through a shortcuts menu.
• Easy funds transfer with fewer errors. The option to copy and paste account numbers means there is no need to memorize or write down account numbers and full account numbers can be viewed in a single click.
• Easy app management, such as the ability to add, delete and sort third-party accounts, view transaction history by month, and frequently used transactions are grouped together.
• Easy bill payment by scanning on the first page. Payments can be made quickly in five seconds or just two clicks. Searching for a payee is easy with new categorization, a list of popular payees, and payees’ logos.
• International security standards with protection against outdated operating systems and rooted or jailbroken devices. Customer data will be secure as these devices will not be able to make transactions.

The update will be rolled out in batches and the first batch of Bualuang mBanking customers can update their mobile banking application to the new version from today. All users will be able to update within two weeks. The Bangkok Bank Mobile Banking Application will be available for mobile devices with iOS version 9.0 and above or Android version 5.0 and above (Android version 7.0 or above is recommended for the better experience).

Existing customers can access the application using their existing 6-digit PIN without having to reregister. New customers can download the app and sign-up with a Bangkok Bank debit card or credit card number.

“The Bank has upgraded and added additional features to our new version of the Bangkok Bank Mobile Banking application to provide a better experience and improved customer convenience and satisfaction. The application reflects the Bank’s commitment to be a Mobile Banking provider that serves our customer’s needs regarding financial transactions on a smartphone, as this is essential for today’s customer’s lifestyle”

Mrs. Prassanee said the new version of Bangkok Bank Mobile Banking will suit the changing lifestyles of consumers in the post-pandemic or ‘New Normal’ world – a society in which people are accustomed to doing their daily activities online and being ‘mobile first’ in their banking habits. This trend is accelerating due to increased access to the internet and smartphones. Mobile banking will become the main channel for financial transactions and accessing various products of the Bank as well as those of the Bank's subsidiaries.

"Data during the first four months of this year clearly reflects this changing customer behavior. The number of mobile banking users has grown by approximately 28% compared to the same period last year. Meanwhile, fund transfers and bill payments via mobile banking grew by 51% and 47%, respectively. This indicates that customers are becoming more familiar with making transactions via mobile banking. Furthermore, the COVID-19 outbreak has also raised concerns over using cash and increased the popularity of online purchasing via mobile banking due to the inconvenience of going to physical stores. In addition, many customers have registered to use their Bangkok Bank account for PromptPay to receive 5,000-baht handouts from the government.”

Mrs. Prassanee added that: “Bangkok Bank is prioritizing investment in its IT systems in order to increase the efficiency of digital services. The Bank aims to be a leader in providing digital payment solutions with a wide range of applications to cater to the needs and lifestyles of all customers, whether payers or payees. The launch of Bangkok Bank Mobile Banking will help to create a better user experience. We will also introduce new services, such as online account opening via the National Digital ID platform for identity authentication, which is currently in the BOT’s Regulatory Sandbox. We have thoroughly tested the new system to ensure a seamless transition. We believe that by the end of this year, the Bank's mobile banking users will increase from 8.6 million to 11 million as targeted.”

More Details about Bangkok Bank Mobile Banking

Bangkok Bank supports the move towards a cashless society by offering Bualuang Smart Bill Payment service to Rajapruek Taxi Cooperative and Bawon Taxi drivers. This enables them to conveniently, swiftly and safely accept fare payments and taxi rental fees via QR Code on Bualuang mBanking and receive real-time transaction reports that perfectly answer the needs of business in the new normal era.

Bangkok Bank Executive Vice President Pipat Assamongkol says the bank is responding to the needs of business customers affected by the COVID-19 outbreak as well as changes in the new normal era. The transition to a cashless society has intensified and has now become a part of everyday life.

“As a trusted partner, Bangkok Bank wants to enable your SME business to reach success. Therefore, the Bank is proud to offer our Bualuang Smart Bill Payment service as an important support to business management with digital payment total solutions. This provides greater convenience to customers while reducing the complexity and errors that may occur from cash management procedures. At the same time, the service also helps increase the efficiency of business by allowing businesses to allocate personnel using digital technology instead of a manual management process. This technology will serve a variety of businesses, especially those with large numbers of daily transactions, such as property management businesses, fresh market operators, tutorial schools, and car rental services.

“The Bualuang Smart Bill Pay service is suitable for almost every type of business that has a lot of daily transactions. The service will help reduce the burden of reviewing these transactions, which can be both time-consuming and labor-intensive and might affect business competitiveness. Bualuang Smart Bill Payment helps business customers with their cash management by providing payment services that cover both Bangkok Bank and other bank channels. It will facilitate the company’s customers and business partners by providing summaries of income and expenses. In addition, business customers can request a report to check payments from their customers and business partners through electronic channels that are available anywhere, anytime. Moreover, this service also meets the needs of business customers in the new normal era as people try to avoid direct contact with cash."

The Rajapruek Taxi Cooperative and Bawon Taxi Cooperative are examples of entrepreneurs with many transactions through the Bank each month — they choose Bualuang Smart Bill Payment as it is a flexible and convenient way to manage their businesses. Smart Bill Payment enables drivers to receive fares via PromptPay QR Code, and the cooperatives receive taxi rental fees via QR Code on Bualuang mBanking, which sends instant payment notifications of all transactions to the cooperatives. It also links with a daily payment summary system, so the cooperatives can be confident that all transactions are secure. It helps reduce errors in financial accounting and users can see the source of each funds transfer and the category of expenses. Therefore, there is no need for the cooperatives to open many deposit accounts with many banks which will save them a lot of time.

“By understanding obstacles that customers or business owners face, Bangkok Bank is able to develop and deliver services that truly meet customers’ needs. The COVID-19 outbreak has been a catalyst for change as we move towards the new normal era. People find it quick and convenient to make online transactions and feel protected from a possible COVID-19 infection as they can avoid direct contact with bank notes. The use of Bualuang Smart Bill Payment has multiplied in the first four months of this year (January-April, 2020) as many businesses applied for this service to cope with the significant changes in society,” said Mr. Pipat.

Mr. Thapakon Asawalertkul, President Advisor, the Rajapruek Taxi Cooperative and Bawon Taxi Cooperative, said that the Bualuang Smart Bill Payment service can help increase the cooperatives’business potential by allocating personnel efficiently. The taxi rental business has to deal with a large number of taxi rental fees being transferred from members each month and as there are often many transactions coming in at the same time, it can be a complicated and time-consuming task to check all the transactions that occur during the day.

“This service helps us manage our business better while lowering our costs and it saves time as we do not need to contact many banks. This means we can focus on improving our services to be more efficient and this will lead to overall business growth. Currently, the cooperatives have many taxis providing services to passengers, and they plan to add new cars every month, so the system is needed to support the increase in transaction volume. At the same time, taxi drivers need to become familiar with accepting fares through digital payment channels to accommodate customer behavior in the modern world. Today customers need an easy, convenient, fast payment service that is secure and safe without any need for direct contact with cash. During the COVID-19 crisis, most of our taxi drivers had to learn how to use and become familiar with digital payments.”

Mr. Thapakorn added that the cooperative and the Bank have the same approach in terms of customer care. The cooperative is working as a trusted partner to the drivers, particularly with regard to finding convenient business solutions to drivers. “We order our taxis from car makers with high standards and cover the costs of car repair and spare parts as well as providing spare vehicles during maintenance, so driver’s income won’t be affected. In addition, we provide assistance to around ten thousand drivers within our network especially in times of crisis, such as reducing daily rental costs to lower the burden of taxi drivers and we also give away relief supply bags to member drivers.

“The cooperatives are confident that this service will be able to increase its efficiency as Bangkok Bank will facilitate accounts opening, QR code payments and PromptPay registration while also teaching all drivers how to use the mobile banking app. Moreover, as a cooperative partner, the Bank also offers our taxi drivers various benefits such as opening a new bank account and receiving a debit card for free with medical treatment privileges at Siriraj Hospital, with which we are very satisfied,” said Mr. Thapakorn.

All information is available in Thai only.

Bangkok Bank Public Company Limited (the Bank) today strengthened its position as a leading diversified ASEAN bank by completing its landmark acquisition of PT Astra International Tbk’s and Standard Chartered PLC’s aggregate 89.12% shareholding in PT Bank Permata Tbk (Permata), Indonesia’s 12th largest bank by total assets.

The transaction was completed today at the agreed valuation of a 1.63 times multiple of Permata’s book value as at March 31, 2020, or approximately IDR33,662 billion (US$2,282 million, Baht 73,722 million). Permata, with an asset base of IDR167,394 billion (US$11,349 million, Baht 366,595 million) with 3.75 million customers and 312 branches across Indonesia, is now Bangkok Bank’s most significant investment. As the next step, Bangkok Bank will apply to the Indonesian financial regulator, Otoritas Jasa Keuangan (OJK), for approval to conduct a mandatory tender offer for the remaining 10.88% stake in Permata. Bangkok Bank’s Indonesian branches will be combined with Permata in the future.

Bangkok Bank’s acquisition of Permata is a strategic move for growth, said Mr. Chartsiri Sophonpanich, President of Bangkok Bank.

“Permata will give Bangkok Bank a stronger presence in Southeast Asia’s two largest economies, reinforcing our position as a leading ASEAN bank. We will support Permata to grow its retail, SME and corporate business, while Bangkok Bank’s customers will have enhanced access to growth opportunities in Indonesia. We are also looking forward to continuing to expand the business partnership between Permata and Astra.”

“We would also like to thank Indonesia’s and Thailand’s financial authorities, OJK and the Bank of Thailand, and other relevant authorities for approving and supporting the acquisition.”

Prijono Sugiarto, President Director of Astra said, "Astra would like to express its gratitude for the support of all parties involved in the completion of the Permata transaction. We remain positive about Indonesia’s financial service sector and will continue to focus on growing our retail finance business. We wish continued success to Bangkok Bank and Permata and hope to continue developing the strong relationships between Astra Group and Permata.”

Bill Winters, Group Chief Executive of Standard Chartered said, “The Permata team has done a tremendous job and we believe the business’s long-term potential remains strong, but it was no longer core to our strategy in Indonesia which will now focus on our wholly-owned branch business. Transferring our stake to a highly respected and motivated new owner will enable Permata to continue its impressive development.”

Bangkok Bank has a long history in Indonesia having opened its first branch in Jakarta in 1968. “Bangkok Bank has been present in Indonesia for more than 50 years and we remain highly confident in the country’s resilient economy and bright future prospects,” said Mr. Chartsiri. “During these difficult times, as countries grapple with the COVID-19 pandemic and its economic repercussions, we will stand steadfast alongside Permata. Together we will support our people, customers and communities to help them overcome these challenges.”

The investment will enable Permata to tap into Bangkok Bank’s expertise in corporate and SME banking, strong regional network and relationships with top corporates across Asia, as well as cross-border product and sectoral expertise. Bangkok Bank will support Permata’s customers by delivering high quality products and services and enhancing access to overseas markets through Bangkok Bank’s network in Thailand and abroad. The Bank is also committed to supporting corporates and SMEs across industries, including the agriculture and automotive sectors, in achieving their business goals and promoting financial inclusion and financial literacy.

Bangkok Bank’s investment in Permata will increase the contribution of international loans to the Bank’s total loans from 17% to 25%.


About Bangkok Bank

Bangkok Bank Public Company Limited, established in 1944, is one of Southeast Asia’s leading regional banks and Thailand’s largest bank by deposits and shareholders’ equity. It has more than 17 million customer accounts and nearly 1,150 branches nationwide with total assets of US$104 billion as of March 31, 2020. Internationally, Bangkok Bank has the largest overseas branch network of any Thai bank, with 31 overseas branches in 14 economies, including China, Cambodia, Hong Kong, Indonesia, Japan, Laos, Malaysia, Myanmar, the Philippines, Singapore, Taiwan, Vietnam, the United Kingdom, and the United States.

About Permata

Permata is Indonesia’s 12th largest bank by total assets (as at December 31, 2019) and Bangkok Bank’s largest investment. It provides comprehensive financial services to 3.75 million customers in 62 cities across Indonesia through its network of 312 branches. Permata is a pioneer of Indonesia’s mobile banking and mobile payment technology, including its PermataMobile X application which has more than 200 innovative features.  

All information is available in Thai only.

Bangkok Bank continues submitting soft loan applications to the Bank of Thailand (BOT) to support small and medium sized businesses (SME). The 24-month soft loan, which has an interest rate of 2% per annum, and a grace period for the first six months, will help increase SME liquidity. The Bank is now expanding the distribution of soft loans to a wider group of SMEs to help them to maintain their businesses. The credit line is calculated to ensure it will not create too much burden for customers. The first group of customers who received the soft loans have received liquidity which will enable them to retain their employees.

Bangkok Bank Senior Executive Vice President Siridej Aungudomsin said to access the BOT’s supportive measures for SMEs affected by COVID-19, namely soft loans amounting to 500 million baht at a 2% interest rate per annum with a grace period for the first six months, Bangkok Bank has continuously submitted soft loan applications of eligible customers to the BOT without any charge or additional requirement to purchase a life insurance policy. Required collateral is based on the risk level of each customer, including the credit history and ability of the business to adjust and recover.

“The Bank is focusing on distributing support to a wider group of entrepreneurs who are affected by COVID-19. The soft loans will provide businesses with liquidity and support with operating expenses, especially staff salaries. This will support employment and help businesses to restart once the situation improves”.

Mr. Siridej added that besides the soft loans, the Bank will also help SMEs by assigning the Bank’s officers in each area to take care of and provide advice to customers. This includes adjusting credit line conditions and repayment plans to be in line with current income as well as debt restructuring so customers can get through the current situation. The Bank is also monitoring issues that may affect customers’ businesses in the future by working with customers closely and continually.

Mr. Kittivut Sasivimonpan Managing Director of Metal Building (Thailand) Company Limited, which manufactures high quality metal roofs and steel structures, was in the first group that received approval for the Bank’s soft loans. He said that the current situation has greatly impacted their business operation as workers have not been able to enter customers’ working sites, so schedules for product installation and payment collection has been disrupted. He said: “Even though schedules have been delayed, we have already hired the workers, so we have to pay for their accommodation and food. The soft loan we obtained will help our business to overcome our liquidity problem and we will be able to take care of our nearly one hundred employees.”

“For every business, cash flow is our lifeblood. It enables our business continuity, especially in times of crisis. Without it, a business finds it hard to move forward, especially when we do not know how long this situation will last. In the meantime a business has to shoulder expenses that increase day by day and take care of employees to minimize the effect of the crisis. Therefore, the soft loan will help ease the burden of a business owner, Mr. Kittivut added.

Dr. Wiravan Mooltripakdee, the founder of Mooltripakdee International School, Pattaya in Chonburi province was also in the first group that received the Bank’s soft loan approval. She said that the COVID-19 outbreak has had a severe impact on the school which needs at least 14 million baht per month to take care of 218 teachers and staff. The school’s income has decreased and the budget has gone off track as the school has lowered the burden of parents by reducing tuition fees by 20-40%, extending the fee collection period, and allowing parents to pay tuition fees in installments. “At present, many parents are being affected very badly, so we try to help each other to overcome this situation,” she said.

“This is the heaviest crisis we have encountered over the past 10 years. To cope with the situation, we are trying to reduce our costs by both delaying non-urgent development plans and cutting wages of teachers and staff. All are cooperating as they understand the necessity. However, we could not cut or suspend any costs related to skill development and knowledge enhancement for our students. Therefore, applying for the soft loan will help increase our liquidity and maintain our teaching standards. Moreover, we can take care of our personnel, prepare properly for the school opening, and start teaching via online channels”.

SMEs that are eligible to participate in the soft loan scheme have qualifications as prescribed by the BOT. The preliminary qualifications are being juristic persons or individuals with a business registered, located and operated in Thailand; the business must not be registered within the Stock Exchange of Thailand (SET) or the Market for Alternative Investment (MAI); business operators must have a total credit line with the Bank not exceeding 500 million baht and repayment status must be normal or not more than 90 days overdue (not yet an NPL) as of December 31, 2019. Those who interested can ask for more information and advice from the Bank’s relationship officers at their home branch, contact Bualuang Phone 1333 or 0 2645 5555, or visit https://www.bangkokbank.com/th-TH/COVID19-Update

Bangkok Bank has launched the “BeMerchant NextGen” mobile app to help customers cope with a new normal following the COVID-19 crisis. The app enables merchants to receive QR Code payments via digital channels to replace cash. The app also facilitates many payment types including mobile banking and mobile applications that link with cards and e-wallets. The launch of the app reinforces the Bank’s position as a leader in digital payment solutions.

Bangkok Bank Executive Vice President, Manager Credit Card Division, Shoke Na Ranong said the COVID-19 outbreak has led to behavioral changes of consumers to embrace a new normal, including behavior wherein people avoid using cash.

“Avoiding contact with cash is not only safe but also more convenient. To seize opportunities to help retail stores adjust to changing customer behavior, Bangkok Bank has launched “BeMerchant NextGen”, a mobile app to help merchants move towards a cashless society. The app enables both online and physical merchants to receive payments from any digital payment method that customers prefer,” said Mr. Shoke.

“BeMerchant NextGen” is an app for merchants and entrepreneurs that can facilitate all types of QR Code payments including PromptPay payments via mobile banking of any bank as well as Visa, Mastercard, UnionPay, TPN, WeChat Pay and Alipay. The app was developed in response to changes in customers’ lifestyles with greater preference for digital payments and the cashless society policy under the National e-Payment strategy of the Thai government, the Ministry of Finance, and the Bank of Thailand.

The app can serve small shops well as it does not require space to install or minimum required payment. It can also help shops save costs as no fee is required for PromptPay payments, while fees are low for receiving QR Code payments from Visa, Mastercard, UnionPay, TPN, WeChat Pay and Alipay. As such the app is suitable for all types of retail stores including those in shopping malls and markets, shops with many cashiers or branches, clothes merchants, jewelry shops, beauty salons, spas, barber shops, convenience stores, restaurants, online shops, taxis and motorcycle taxis.

Merchants can easily apply for the app. For those who already have the Bangkok Bank Be1st Smart debit card, download the “BeMerchant NextGen” app from App Store or Play Store, use a 10-digit mobile phone number to register, and the app is active right away. The bank believes the “BeMerchant NextGen” app will support Thai entrepreneurs amid the COVID-19 crisis as it can help boost sales from offering many and more flexible types of payment to customers, while money from the sales will be transferred to sellers’ accounts immediately after sellers provide account summaries. Payments made via applications that link with cards, WeChat Pay and Alipay will be transferred to sellers’ accounts by the next day.

Mr. Shoke added that the launch of “BeMerchant NextGen” will help enhance the Bank’s digital payment solutions. The Bank as a trusted partner is ready to stand beside retail business owners by offering another tool that can facilitate business anywhere, anytime and reduce cash use as sellers can send QR Codes to customers via mobile phones, from which customers can make payment however they prefer.

“Bangkok Bank is focused on offering digital experiences, so the Bank is committed to developing systems, networks, financial products and services to create a robust digital ecosystem that can fulfill customer needs with security,” said Mr. Shoke.

Bangkok Bank is ready to offer a “loan payment holiday” and credit support for SME customers affected by COVID-19 who meet the qualifications as announced by the BOT, with the aim to provide them with sufficient funds and liquidity to operate their businesses and retain their employees during the COVID-19 outbreak. The Bank aims to provide financial assistance efficiently and directly to those affected by the pandemic and has already submitted the first set of requests for soft loans to the BOT.

Bangkok Bank Senior Executive Vice President Suvarn Thansathit said in response to the government’s issuance of a Royal Decree granting financial assistance to entrepreneurs affected by the COVID-19 outbreak, Bangkok Bank has provided clear information and details about the said measures as soon as possible to SMEs who meet the qualifications. The Bank has already submitted the first set of requests, mostly from retail entrepreneurs, for soft loans to the BOT.

The new soft loans are for entrepreneurs who are juristic persons or individuals with a business registered, located and operated in Thailand. The business must not be registered within the Stock Exchange of Thailand (SET) or the Market for Alternative Investment (MAI). The loan is also for financial service providers. Business operators must have a credit line with the Bank not exceeding 500 million baht. Repayment status must be normal or not more than 90 days overdue (not yet an NPL) as of December 31, 2019 as the loan aims to help businesses affected by COVID-19. Customers can apply for a loan amount not exceeding 20% of their loan outstanding at the end of December 2019. The loan’s concessional interest rate is not more than 2% for two years. The government will bear the interest burden of the entrepreneur for the first six months. The Bank will not charge any additional expenses or fees including front end fees. The Bank reserves the right to consider lending to qualified applicants.

Entrepreneurs who are juristic persons or individuals operating businesses in Thailand with a credit line for the whole business group with the Bank not exceeding 100 million, under normal repayment status or not exceeding 90 days overdue repayment (not yet an NPL) as of December 31, 2019, are automatically eligible to suspend payments of both principal and interest for six months from April 23 to October 22, 2020. This loan payment holiday will not be considered as a missed payment and thus will not affect the credit history of the business. This relief measure will provide entrepreneurs with enough cash on hand to support their businesses and meet necessary expenses, especially wages. Entrepreneurs who do not wish to receive this relief measure are requested to send a confirmation letter to the Bank and repay their loans as usual.

“The Bank stands ready to work closely with business operators and help them to get through this crisis by providing advice on debt restructuring, adjusting loan payments in line with their income, and adjusting financial terms as appropriate to the customer’s business. This will prevent loans from turning into nonperforming loans which would impact customers’ credit history and have a negative impact on future loan applications”, Mr. Suvarn added.

Those who interested can ask for more information and advice from the Bank’s relationship officers, contact Bualuang Phone 1333 or 0 2645 5555, or visit https://www.bangkokbank.com/th-TH/COVID19-Update

In the first quarter of 2020, the Thai economy contracted sharply due to the effects of the Coronavirus (COVID-19) pandemic and a drastic decline in Thai exports and imports. The pandemic containment measures implemented by many countries around the world, such as travel restrictions and lockdowns, have led to a significant drop in the number of inbound tourist arrivals. Furthermore, the Thai government’s containment efforts by closing shopping centers, service providers, and entertainment venues, as well as enacting a nationwide curfew from 10:00 pm to 4:00 am, have resulted in a steep decline in domestic consumption. At the same time, Thailand has been experiencing a severe drought which is significantly weighing on agricultural production.

Due to the above mentioned impacts, the Cabinet has launched a series of financial and fiscal relief measures to mitigate the negative economic impact on individuals and businesses in the sectors most affected by the COVID-19 outbreak. The Bank is also committed to helping entrepreneurs and the public overcome this crisis by issuing its own various measures as well as supporting those from the government and the Bank of Thailand. These measures enable the Bank to look after and assist affected companies so they can have sufficient funds and liquidity to operate their businesses and maintain employment, as well as help affected people reduce their financial burden and get through this crisis together.

Amid challenging economic conditions, Bangkok Bank delivered first quarter net profit of Baht 7,671 million

The Bank’s net interest income for the first quarter of 2020 increased by 15.3 percent from the previous quarter due to corporate loan growth and the change in recognition of interest income from loans using the effective interest rate (EIR) method. These factors saw the net interest margin stand at 2.52 percent. Net fees and service income decreased by 22.4 percent predominantly due to lower fees from loan-related services. The Bank’s other operating income declined mainly from the high base achieved in the fourth quarter of 2019 due to a one-off gain on investment of Baht 14,988 million as well as from new accounting standards on financial instruments measured at fair value whose valuation was affected by the unprecedented COVID-19 outbreak which resulted in poor market conditions. The Bank’s operating expenses decreased by 28.8 percent. The Bank has introduced safety and protection measures for customers, employees and other stakeholders, whose health, hygiene and wellbeing are its priority, whereby regular management meetings have been convened to promptly manage and adjust the measures since the early days of COVID-19. The cost-to-income ratio stood at 43.1 percent. The expected credit loss sharply decreased as the Bank set aside a one-off higher provision in the previous quarter to strengthen the loan loss reserves before the adoption of the Thai Financial Reporting Standard No.9 (TFRS 9).

Bangkok Bank posts a healthy balance sheet and strong capital position

At the end of March 2020, the Bank’s total loans amounted to Baht 2,115,950 million, an increase of 2.7 percent from the end of 2019, due to an increase in large corporate and international lending and in line with the pipeline projections at the end of last year. The ratio of non-performing loan (NPL) was 3.5 percent with the strong loan loss reserves to NPL ratio at 203.9 percent. The Bank continues to assist customers and support them through the COVID-19 crisis, while strengthening loan portfolio quality through robust control of credit underwriting and risk management and maintaining the allowance for doubtful accounts at a prudent level. This is in line with the Bank’s conservative business management approach under both normal economic conditions and recession.

The Bank’s financial position remained healthy with a strong capital base and ample liquidity position. At the end of March 2020, the loan to deposit ratio was 84.2 percent. The total capital adequacy ratio, Common Equity Tier 1 capital adequacy ratio and Tier 1 capital adequacy ratio of the Bank and its subsidiaries were 18.5 percent, 15.7 percent and 15.7 percent respectively, comfortably above the Bank of Thailand’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 significant changes in principle can be summarized into classification and measurement of financial assets and liabilities, calculation of impairment using the concept of expected credit loss, and hedge accounting.

All information is available in Thai only.

All information is available in Thai only.

All information is available in Thai only.

All information is available in Thai only.

 

Bangkok Bank has been awarded “Bank of the Year 2020” by Money & Banking magazine for its outstanding performance and profitable growth. This is the fourteenth time the Bank has won the award since it was established in 1985. The Bank’s net profit in 2019 was the third highest among Thai commercial banks at 35.8 billion baht, up 1.4% from the year before, representing the highest net profit of 18.76 baht per share and the highest book value of 225.36 baht. In addition to its high profitability, Bangkok Bank was recognized for its prudent and steady approach in allocating reserves for doubtful accounts. The Bank’s allowance of doubtful accounts was the highest level at 8.14% and Tier 1 capital adequacy ratio (BIS) was 17.01%, the third highest level among Thai commercial banks.

In 2020, the Bank will continue to support its customers to cope with challenges so they can grow sustainably. The Bank will focus on providing innovative products and services, developing modern technology and increasing the capability of its personnel, as well as maximizing its network of partners to meet the changing needs of customers. One of the Bank’s most important milestones in 2020 is the acquisition of Permata Bank, Indonesia’s twelfth-largest bank by assets with more than 300 branches in 62 cities across the fast-growing economy of Indonesia.

All information is available in Thai only.

Bangkok Bank Senior Executive Vice President Suvarn Thansathit said that Bangkok Bank is ready to take care of SME customers, a sector that plays an important role in the Thai economy and is the country's main source of employment. In line with this commitment, the Bank supports the BOT’s additional measures in order to provide SME customers with sufficient funds and liquidity to operate their businesses and to keep their employees.

The assistance consists of two measures which are:

1. For entrepreneurs (both individual and juristic persons operating business in Thailand with credit limits of up to 100 million baht, the loans can be automatically suspended for six months without any effects on their credit history. The aim of this isto help provide the necessary liquidity to support their expenditure. Meanwhile, for entrepreneurs with financial capability, the Bank recommends paying off their loans as normal to play a part in helping to drive the country’s economy.

2. The Bank is ready to offer soft loans to provide customers with financial liquidity. Entrepreneurs (both individual and juristic persons) operating business in Thailand with credit limits of up to 500 million baht, will be entitled to an interest rate of 2% per annum for the first two years with no interest charged during the first six months. However, customers must have a normal installment status and to have been no more than 90 days past due (not yet NPL) as of December 31, 2019. Each customer will be able to borrow no more than 20% of the outstanding balance of accounts receivable as of the end of December 2019.

“During the implementation of these two measures, the Bank is ready to give advice to customers in terms of debt restructuring and the adjustment of repayment plans to suit the business type. The Bank understands the difficult circumstances entrepreneurs are facing so we aim to help borrowers before their debt becomes an NPL which will affect their credit history and compromise their future loan applications. Meanwhile, for customers with ongoing financial capability, we recommend paying off their loans as normal to be a part in helping to drive the country’s economy,” said Mr. Suvarn.

Customers can receive more information about these special loans at our Business Centers or contact any of Bangkok Bank channels comprising https://www.bangkokbank.com/SMEs, Bangkok Bank LINE Official, Bualuang Phone 1333 or 0 2645 5555.

 

Bangkok Bank Chairman Piti Sithi-Amnuai (5th from right), Executive Chairman Deja Tulananda (4th from right), President Chartsiri Sophonpanich (2nd from left), along with the board members and senior executives presented a 10 million baht donation to Dean of Faculty of Medicine, Siriraj Hospital Professor Dr. Prasit Watanapa (center), Director of Siriraj Hospital Assistant Professor Dr. Visit Vamvanit (5th from left) and Deputy Dean of Corporate Communication and Social Responsibility, Faculty of Medicine Siriraj Hospital Assistant Professor Dr. Naris Kitnarong (4th from left) to support the Faculty of Medicine at Siriraj Hospital and Mahidol University’s “Siriraj Soo Pai COVID” fund for purchasing of necessary medical equipment to treat COVID-19 patients. The donation was presented on March 30, 2020 at Bangkok Bank Head Office.

This was Bangkok Bank’s fourth major donation to support efforts to combat the COVID-19 outbreak, after a donation of 10 million baht each to the Ramathibodi Foundation, Thammasat University Hospital and King Chulalongkorn Memorial Hospital, and the Thai Red Cross Society. People can donate via Bangkok Bank, using the account name: Siriraj Foundation (Siriraj Soo Pai COVID), current account number 901-3-50034-4.

Bangkok Bank is ready to stand by you in every situation as your “trusted partner and reliable close friend”.

 

Bangkok Bank Chairman Piti Sithi-Amnuai (5th from left), Executive Chairman Deja Tulananda (4th from left), President Chartsiri Sophonpanich (2nd from left) and members of the board of directors and executives presented a donation of 10 million baht to Professor Suttipong Wacharasindhu (5th from right), Dean of the Faculty of Medicine, Chulalongkorn University and Director of King Chulalongkorn Memorial Hospital, Thai Red Cross Society, and Professor Thiravat Hemachudh (4th from right), Head of King Chulalongkorn Memorial Hospital's Emerging Infectious Disease Health Science Centre and Dr. Trairak Pisitku (3rd from right), Director of Center of Excellence in Systems Biology, Chulalongkorn University, to support King Chulalongkorn Memorial Hospital's “COVID-19 Disease Donation” project. This project covers increasing expenses for medicine, medical supplies, medical equipment and the treatment of patients infected with COVID-19. The event took place on Friday March 27, 2020 at Bangkok Bank’s Head Office on Silom Road and it was the third major COVID-19 related donation from the Bank to support hospitals combating the COVID-19 outbreak.

The first two hospitals which received donations of 10 million baht each were Ramathibodi Foundation and Thammasat University Hospital. Those interested in donating to support the “COVID-19 Disease Donation” project can donate via Bangkok Bank with the following account name: King Chulalongkorn Memorial Hospital, Thai Red Cross Society, savings account number 913-7-03979-9.

Bangkok Bank is ready to stand by you in every situation as your “trusted partner and reliable close friend”.

 

Bangkok Bank Chairman Piti Sithi-Amnuai (center), Executive Chairman Deja Tulananda (5th from right), President Chartsiri Sophonpanich (4th from left), along with the board members and senior executives presented a 10 million baht donation to Thammasat University Hospital Director Associate Professor Pharuhat Tor-Udom (6th from left), Nursing Department Director Prisana Patumanan (2nd from left) and Head nurse of Screening and Admission Unit Sukanya Koonkiti (left) to support Thammasat University Field Hospital’s 308-bed facility for treating non-critical COVID-19 patients. The funds will also support the purchase of medical equipment, N95 masks and personal protective equipment. The field hospital has been admitting COVID-19 patients since March 25, 2020. This project is a collaboration between five teaching hospitals namely Siriraj Hospital, Ramathibodi Hospital, Chulalongkorn Hospital, Vajira Hospital and Thammasat University Hospital. The donation was presented on March 26, 2020 at Bangkok Bank Head Office.

This was Bangkok Bank’s second major donation to support efforts to combat the COVID-19 outbreak, after the first donation of 10 million baht to the Ramathibodi Special Fund. People can donate via Bangkok Bank account name: Thammasat University Hospital, current account number 091-0-20188-8. Bangkok Bank is ready to stand by you in every situation as your “trusted partner and reliable close friend”.

Bangkok Bank has launched three supportive measures in line with the Bank of Thailand (BOT)’s policy to help retail and SME customers by lowering the minimum payment threshold, reducing interest and implementing a 3-month debt suspension scheme, to help borrowers before their debt gets categorized as a non-performing loan (NPL) which will affect their future loan applications.

This announcement is with reference to the BOT notice to introduce credit assistance measures for borrowers before their debt becomes an NPL by requesting cooperation from commercial banks on March 1, 2020.

Bangkok Bank Senior Executive Vice President Suvarn Thansathit said that the Bank understands the difficult circumstances which people and entrepreneurs are facing in light of the COVID-19 outbreak, which is why it has launched supportive measures to alleviate the anxiety and financial burden of retail and SME customers, relaxing loan payment conditions including the suspension of principal and interest payments. The supportive measures will come into effect from April 1, 2020 onwards.

Details of the supportive measures are as follows:

1) Credit card customers

• The minimum payment rate for credit card customers will be reduced to 5% (from 10%) effective from the billing cycle of April 1, 2020 onwards, for the next two years. This measure applies to all types of Bangkok Bank credit cards without customers having to make an individual request.
  
  
• The Bank has instituted measures for customers who are directly affected by the COVID-19 outbreak. This applies to those who work in the hotel, tourism, aviation and related industries which have temporarily stopped operations following the government’s announcement, or those with income less than 30,000 baht per month. They can register for a special interest rate adjustment to 12% by making an individual request through Bangkok Bank channels.

2. Installment loans

• Customers can register for a suspension of principal and interest for a period of three months by making an individual request through Bangkok Bank channels.

3. Mortgage loans

• Customers whose approved mortgage is not over 3 million baht can register for a three-month deferral on principal repayment (paying interest only) by making an individual request through Bangkok Bank channels. The Bank will consider adjusting the interest on a case by case basis.

4. SME business loans

• Customers whose approved credit is not over 20 million baht can register for a three-month deferral on principal payment (paying interest only) by making an individual request through Bangkok Bank channels. The Bank will consider adjusting the interest on a case by case basis.

“Bangkok Bank is urgently implementing measures to help customers and ease their financial burden. We are providing support to both general customers and specific groups who are directly affected by the COVID-19 outbreak. We aim to help borrowers before their debt becomes an NPL which will affect their credit history and compromise their future loan applications,” said Mr. Suvarn.

Customers of more than one loan can apply for all loan types according to the above conditions. Customers can make their requests and apply on https://www.bangkokbank.com/COVID19-Update, scan the attached QR code or visit a Bangkok Bank branch or business center. Registration is available from April 1 - June 30, 2020. Customers who are slightly affected by the COVID-19 outbreak or continue to have financial capacity can continue to use loan services and make repayments as usual.

Customers can receive more information from Bangkok Bank channels www.bangkokbank.com, Bangkok Bank LINE Official or contact Bualuang Phone 1333 or (66) 0 2645 5555.