Bangkok Bank Chairman Piti Sithi-Amnuai (far right), Executive Chairman Deja Tulananda (2nd from right), the bank’s directors, executives and staff made merit by giving offerings to 100 monks from six temples including Wat Phra Chetuphon Wimon Mangkhalaram, Wat Yannawa, Wat Debsirindrawas, Wat Traimitr Withayaram, Wat Pathumkhongkha and Wat Ratcha Singkhon, on the occasion of the Bank's 77th anniversary, which falls on December 1 every year, The event was held at the Bank’s head office on Silom Road in Bangkok.

 

Bualuang Ventures, a subsidiary of Bangkok Bank and the main investor, has joined with Krungsri Finnovate to provide Series A funding for PUUN Intelligent, a Thai fintech and the developer of PEAK, the most widely used cloud accounting platform in Thailand. The funding will be used to expand PEAK’s market share and enhance the platform by developing more features.

Bualuang Ventures Managing Director Mr. Krit Phanratanamala said this investment is a great opportunity to invest in a start-up FinTech that provides accounting solutions. PEAK enables businesses to manage their accountings professionally with systematic, accurate and reliable documentation, which is particularly useful for smaller businesses and SMEs that often have limited expertise in standard bookkeeping and accounting.

“Our investment in the PEAK platform will enable SMEs, including Bangkok Bank customers, to access professional and efficient accounting solutions at a reasonable price. The platform can be accessed from any device, anytime and anywhere. Business owners will have real-time information that helps them make business decisions more efficiently while gaining access to more funding sources. Meanwhile it will help banks to more quickly and efficiently process accounting data when considering credit requests. It also has the potential for collaborating on marketing and expanding the user base for accounting and credit systems, which will be beneficial to all parties,” said Mr. Krit.

Mr. Sam Tanskul, Managing Director at Krungsri Finnovate, said the PEAK platform is the country’s leading cloud accounting program with more than 10,000 corporate clients. Krungsri Finnovate saw its growth potential and the opportunity to bring technologies and solutions to Krungsri’s SME customers. This will support efficiency, increase security and reduce the risk of losing data. This investment will present further opportunities to both Krungsri and PEAK to develop products and services to serve future customers.

“Krungsri Finnovate’s goal is to be a connector linking start-ups and its affiliates through support and investments in technologies, innovations and potential start-ups in Thailand and across the region. This will enhance its business development in many dimensions including reducing costs, generating revenue, creating innovations and gaining access to data. Our Medium-Term Business Plan covering 2021-2023 will focus on developing financial innovations and solutions that promote an ecosystem for users, service providers and business partners to be more convenient, flexible and efficient. It will also build a strong network across ASEAN to support business expansion overseas and support the start-up ecosystem through continued investments. These start-ups can help develop Krungsri’s businesses through collaborations, while Krungsri can support start-ups with its potential, expertise and network. Our Medium-Term Business Plan focuses mainly on automobile, home and living, and e-commerce businesses,” said Mr. Sam.

Mr. Peem Petchged, Founder and CEO of PUNN Intelligent, said the company plans to use the Series A funding it has received from four investors – Bualuang Ventures, Krungsri Finnovate, SME Private Equity Trust Fund (by the Government Savings Bank and the Stock Exchange of Thailand), and M8VC – to expand its market and develop a greater variety of products to meet the needs of every business, whether start-up or SME. This is aligned with PEAK’s purpose to support businesses by providing them with a high quality, professional accounting system that will support business growth and enable accounting information to be used for decision making, strategic planning and gaining access to funding sources at a reasonable cost, which will increase businesses efficiency and support the Thai economy.

PEAK’s cloud accounting platform is available for three groups of customers: business owners, accountants, and software alliances with four packages set for different functions according to customer needs which are a free package, Basic (500 baht/month), Pro (700 baht/month) and Pro Plus (1,200 baht/month). PEAK is Thailand’s leading cloud accounting platform and is used by more than 1,000 partner accounting firms and freelance accountants across the country.

“PEAK aims to develop a platform that contributes to the development of financial infrastructure while providing convenience for business customers. At present, PEAK's cloud accounting program can record and track various accounting transactions in real time, and it is tailored to meet the needs of each group of customers. Our vision is to ease the burden of accounting for business owners so they can have more time to focus on growing their businesses with the help of PEAK, as well as supporting accountants for assisting business owners to reach their goals,” said Mr. Peem.


About Bualuang Ventures

Bualuang Ventures is a subsidiary of Bangkok Bank which currently invests in start-up businesses, including SME with growth potential. The company is interested in businesses with high growth potential such as e-Commerce, Automation & AI, Agritech, Fintech, Health Tech and Smart Living. It focuses on business consulting and capital structure development, as well as leveraging the corporate governance of the company. Bualuang Ventures is not only committed to expand its collaborations to grow its businesses with Bangkok Bank and its subsidiaries but to being a long-term partner with companies with competitive potential and sustainable growth under the slogan “Your Lifelong Partner”.

About Krungsri Finnovate

Krungsri Finnovate is a Corporate Venture Capital: CVC, under Krungsri Group. Its mission is to assist Fintech and banking technology startups in Thailand and other South East Asian countries in achieving their expected growth. The main activities include investing in new startups and initiating startup incubation programs, as well as strategic and financial partnerships with the support and cooperation of various Krungsri units.

About PUUN Intelligent (PEAK)

PUUN Intelligent is a start-up company that developed the PEAK platform. Currently, PEAK is used by more than 10,000 SMEs across the country and has over 1,000 Accounting Firms Partner and freelance accountants and processes over 1,000,000 transactions/month, valued at over 25 billion baht/month. PEAK was founded by a team not only passionate about accounting and tax, but also design and technology. The team is committed to developing not just a cloud accounting platform, but a business infrastructure that will enable entrepreneurs to manage and grow their business effectively. It also helps create accountants who will help take care of SMEs and make their businesses more successful.

 

Bangkok Bank Director and Executive Vice President Thaweelap Rittapirom (4th from left) and Executive Vice President Pochanee Kongkalai (2nd from left) welcomed to the Bank's booth at Money Expo Korat 2021 former Deputy Prime Minister Suwat Liptapanlop (4th from right) who presided over the event, Nakhon Ratchasima governor Vichien Chantaranothai (2nd from right), President of Money Expo Santi Viriyarangsarit (3rd from right).

Bangkok Bank showcased its booth under the concept of “Reconnect with friends, let's build wealth for the future” to reflect the Bank’s modern identity that is reliable and trustworthy. At the event the Bank provided comprehensive financial products and services as well as professional advice from staff who are ready to be a “trusted partner” to help customers build their future wealth. This nicely reflects the concept of the event “Future Wealth, wealth in a new dimension of the future” where financial technologies such as fintech, blockchain, cryptocurrency and digital currency are playing an increasingly important role in the evolution of investment and wealth management in order to meet the needs of a new generation of investors who are aiming for long-term financial stability.

The Bank would like to invite customers and the general public to attend this event in the New Normal style, via the organizer's website at www.moneyexpoonline.com or visit Bangkok Bank’s physical booth to obtain financial and investment advice as well as apply for services and receive special promotions during the 15th Money Expo Korat which will be held between November 26-28, 2021, at MCC Hall, The Mall Shopping Center, Nakhon Ratchasima.

 

Bangkok Bank Senior Executive Vice President Siridej Aungudomsin, Director and Executive Vice President Thaweelap Rittapirom, and Executive Vice President and Head of Metropolitan Commercial Banking Kanoksak Mokkamakkul, together with three of the Bank’s SME customers joined the award presentation ceremony of HRH Princess Maha Chakri Sirindhorn’s Thailand Corporate Excellence Awards 2021 and SMEs Excellence Awards 2021. On this occasion, Bangkok Bank received Thailand Corporate Excellence Awards 2021 in the category of Innovation Excellence Award. In addition, three of the Bank’s SME customers also received the HRH Princess Maha Chakri Sirindhorn’s SMEs Excellence Award 2021: 4 Care Co., Ltd. was recognized in the category of trading; TS Plaspack PCL received the gold award in the category of manufacturing; and Jen Kong Klai Co., Ltd. received the gold award in the category of service. Prime Minister General Prayut Chan-o-cha presided over the award ceremony and delivered a congratulatory speech to the organizations receiving the awards at The Athenee Hotel Bangkok.

HRH Princess Maha Chakri Sirindhorn’s Thailand Corporate Excellence Awards 2021 and SMEs Excellence Awards 2021 have been organized for 19 consecutive years by the Thailand Management Association (TMA) and Sasin Graduate Institute of Business Administration of Chulalongkorn University, and aim to drive and inspire the development of business competitiveness to promote sustainable growth for the Thai economy.

 

Bualuang Ventures joins WHA Group to become the main investor in the Series B funding round of “GIZTIX”, a Thai startup that provides a digital platform for e-Logistics, with total funding of more than 260 million baht. It aims to develop a comprehensive range of transportation services and technologies for businesses throughout the country. In addition, it is ready to support logistics operators to enter the digital era while aiming to occupy the strategic point of the regional center.

Bualuang Ventures, a subsidiary of Bangkok Bank, joined with WHA Venture Holding under WHA Group to become the major investor in the Series B funding round of GIZTIX, a leading e-Logistics startup that provides a digital platform to connect operators in the transport and logistics sector with users all around the country. This funding round is worth USD 7.75 million, or approximately 260 million baht. Bualuang Ventures and WHA Group will each invest USD 3 million, or approximately 100 million baht. The Series B funding round was also attended by leading institutional investors in the startup industry, including Addventures by SCG, KK Fund and CAC Capital. GIZTIX plans to use the funds to develop services and technologies in transportation and to expand the service areas while reducing transportation costs as much as possible.

Bualuang Ventures Managing Director Krit Phanratanamala said that the joint investment with GIZTIX, which has expertise in logistics and high potential, is a collaboration between Bualuang Ventures as a financial partner and WHA Group as a strategic partner that will drive Thai startups to prosper and help them to compete domestically and internationally. As a subsidiary of Bangkok Bank, which is a leading financial service provider, Bualuang Ventures is ready to bring in financial technology (FinTech) to further enhance services on the GIZTIX platform such as digital lending for GIZTIX drivers, working capital for entrepreneurs on the GIZTIX platform, as well as analyzing payment data to develop future solutions. This will provide greater access to financial services for platform users and strengthen the competitive edge for small logistics operators, while increasing the ability to respond to future needs of the e-commerce sector.

“We foresee growth in the e-Commerce sector and related businesses such as logistics. As consumers have grown to enjoy having many choices for their logistics provider, we are confident that this investment will support the growth of the entire supply chain, from sellers to logistics operators, to consumers. Everyone will receive an efficient service thanks to digital technology that helps manage, control costs, and speed up delivery time under GIZTIX’s system that is about to be developed using this funding to enhance service capability,” said Mr. Krit.

Ms. Jareeporn Jarukornsakul, Chairman and Group CEO of WHA Corporation PCL, said that WHA Group was very pleased to be one of the main investors in the Series B funding round. This partnership between Bualuang Ventures and GIZTIX is an important collaboration and in line with WHA Group’s Digital Innovation and Transformation strategy which is focused on applying new technology and innovation to further develop a full range of products and services with business partners and startups. This responds to new needs under megatrends and will create more value and quality for WHA Group’s products and services, including the development of modern and international standard Smart Warehouse, the use of robotics and automation together with 5G technology, and providing Smart Logistics to support entrepreneurs to collect and use data for in-depth analysis that will benefit their business, along with AI and Machine Learning that can enhance efficiency and reduce business costs in the long term.

“As Thailand’s leader in fully-integrated logistics, industrial estates, and utilities, WHA Group is ready to bring in its expertise and the ecosystem of its four main businesses as well as its good relationship with customers and Thai and foreign e-Commerce and logistics operators to join with Bualuang Ventures and GIZTIX to support the growth of Thai entrepreneurs, reduce logistics costs and increase Thailand’s competitiveness. Over the next few years, WHA Group will continually seek new investment opportunities with leading partners to expand its business and achieve sustainable growth in Thailand and the region,” said Ms. Jareeporn.

Mr. Sittisak Wongsomnuk , CEO and co-founder of GIZTIX or Giztix Co., Ltd., said that the proceeds received from the Series B funding round will be used for business development in four areas: 1) Developing more comprehensive transportation services and technologies using advanced technology 2) Expanding the transportation network to provide nationwide services, especially in strategic road transportation routes using e-Logistics 3) Investing in marketing and sales to help distribute income to transport operators in every province and 4) Investing in management and technology to maintain profitability in parallel with business expansion. It is also preparing to list on the Stock Exchange of Thailand in 2025 or in the next four years.

Despite the fact that there is fierce competition in the logistics industry in Thailand, as many large corporates from foreign countries have entered the market, GIZTIX’s strong point is we choose to focus on business customers and mainly large-sized products which are less competitive. We also offer a full range of services that are particularly designed for business customers, while running every work process with technology support. Therefore, we continue to gain trust from our customers. The Covid-19 outbreak in 2020-2021 has encouraged businesses to increasingly turn to online services. As a result, the number of transport trips managed through the GIZTIX platform has increased by more than 420% or more than 500,000 transportation trips per year.

Mr. Sittisak, GIZTIX CEO and co-founder said that: “The road transport business in Thailand is worth more than 19 billion US dollars a year and there is a huge opportunity to grow further as Thailand is also a strategic hub for transportation and logistics in the region. Unfortunately, businesses in the logistic sector still lack digital systems that will connect data and provide real-time communications. Therefore, it is an important opportunity for GIZTIX to help develop these businesses in Thailand using our digital technology, so they can be in line with the National Logistics Master Plan”


About Bualuang Ventures

Bualuang Ventures is a subsidiary of Bangkok Bank which currently invests in start-up businesses, including SME with growth potential. The company is interested in businesses with high growth potential such as e-Commerce, Automation & AI, Agritech, Fintech, Health Tech and Smart Living. It focuses on business consulting and capital structure development, as well as leveraging the corporate governance of the company. Bualuang Ventures is not only committed to expand its collaborations to grow its businesses with Bangkok Bank and its subsidiaries but to being a long-term partner with companies with competitive potential and sustainable growth under the slogan “Your Lifelong Partner”.

 

Bangkok Bank Director and Executive Vice President Thaweelap Rittapirom welcomed to the Bank’s booth at Money Expo Chiangmai 2021 Finance Minister Arkhom Termpittayapaisith who presided over the event, Chiang Mai Governor Prajon Pratsakun, President of Money Expo Santi Viriyarangsarit, and Vice President of the event Pakanee Viriyarangsarit. The Bank offers financial and investment experiences of the digital age with products and services that meet the needs of young investors under the concept of “Reconnect” to mark the country’s reopening and connect customers with various wealth solutions. The Bank’s booth applies measures to prevent the spread of Covid-19 and all staff working at the booth are vaccinated. Social distancing principles with full protective equipment will be implemented for the safety of both customers and employees.

Bangkok Bank Director and Executive Vice President Thaweelap Rittapirom said the Bank has consistently joined Money Expo every year. Money Expo Chiangmai 2021 is the first under Money Expo 2021. The Bank’s booth is under the concept of “Reconnect with friends, let’s build wealth for the future” to present the Bank’s readiness to warmly welcome customers as usual during Money Expo. With the country’s reopening, the Bank’s experts are ready to help customers build their wealth by connecting customers with financial products and services. The booth’s design looks like bar graphs which are continually rising to represent success and wealth as well as reflect an image of a stable and reliable Bank in the new era.

In line with the New Normal, customers and participants can visit the booth offline and online to meet consumers’ increasing preference to access products and services via online channels. To have an online visit to explore products, services and special promotions in a marketplace format, customers can visit the organizer's website at www.moneyexpoonline.com. To physically visit the Bank’s booth, the Bank has placed utmost importance on the safety of participants by following the Public Health and other government regulations and measures to strictly control and prevent the spread of Covid-19. Staff working at the booth must be vaccinated for at least 14 days before joining the event. The set up area inside is also in line with social distance principles with full protective equipment for the safety of both customers and employees, such as hand sanitizer gel and partitions between tables and counters, etc.

Bangkok Bank also showcases its products that reinforces its status as a trusted partner for both individual and business customers, especially those affected by the Covid-19 pandemic. Customers can make an inquiry or request for various assistance measures from the Bank’s booth at the event or visit Bangkok Bank’s website to make a registration until December 31, 2021.

In addition, there are also products and services that come with special offers, including Bangkok Bank Mobile Banking with new features that provide better services such as e-Savings account opening that allows customers to instantly transfer, pay and invest via the app. Customers will get one Be Cool tote bag worth 129 baht when opening an e-Savings account at the event. Customers will get three special privileges when they apply for any type of Be1st Smart card at the event such as Be1st Smart TPN Rabbit Siriraj debit card. Customers will receive a gift card worth up to 5,000 baht when applying for Bualuang Home Loan online and receiving mortgage approval. Moreover, customers will receive special privileges from life insurance or non-life insurance products, such as AIA Health Happy, Covid Complete Insurance, Sam-Rok-Kuan-Jai Insurance Plus (Insurance against 3 Vexing Diseases) and Gain 1st Life Insurance from Bangkok Life Assurance, PA 1st from Bangkok Insurance. Customers can also enjoy mutual fund products such as Super Savings Fund (SSF) with tax privileges from BBL Asset Management and Bangkok Capital Asset Management, etc.

The Bank would like to invite customers and participants to join this event in line with the New Normal, through an online channel via the organizer's website at www.moneyexpoonline.com or physically visit us to obtain financial and investment advice, apply for various services and receive special promotions at Bangkok Bank’s booth at the 16th Money Expo Chiangmai 2021 between 12-14 November 2021, at Chiang Mai Hall, Central Plaza Chiang Mai Airport.

 

Bangkok Bank donated 5 million baht to support the Light of Heart Field Hospital project, a 450-bed field hospital to support and screen patients with the green and light-yellow status, help alleviate the overcrowded bedding situation as well as lighten medical staff’s burden during the third wave of Covid-19.

Bangkok Bank Executive Vice President Thaweelap Rittapirom said the third wave of Covid-19 has seen a widespread outbreak and resulted in a large number of new infections especially critically ill patients in Bangkok and metropolitan areas, which led to overcrowded patients in both public and private hospitals. Although the government accelerated the setup of additional field hospitals to expand services and allow patients to quickly access treatment, it was unable to adequately accommodate the increasing number of patients when the third wave hit.

Bangkok Bank, as a trusted partner who is ready to support customers to overcome the crisis together, donated 5 million baht to support the Light of Heart Field Hospital project, alongside the private sector which founded the project, consisting of affiliated hospitals in the Principal Healthcare MQDC (Magnolia Quality Development Corporation Limited) network, EEC Engineering Network Company Limited, T&B Media Global Company Limited, the Dhanin Tawee Chearavanont Foundation, the Ariyawararom Foundation and the Buddharaksa Foundation, to build additional field hospitals to solve bed shortage issues in major hospitals since the beginning of the third wave until the Covid situation began to improve. The field hospital accepted new patients until October 31, 2021, and provided treatments until the end of the project on November 8, 2021.

The Light of Heart Field Hospital project is a 450-bed field hospital to accommodate patients with the green and light-yellow status. Divided into 225 beds for female patients, 225 beds for male patients, with 44 shower rooms separated for male and female patients and 44 toilets, the project aims to provide good health and safety for patients and medical staff as well as create a positive environment in the community. With affiliated hospitals in the Principal Healthcare network providing the main support on medical and public health, ICU rooms have been expanded from 20 to 85 rooms and patients can be moved in a timely manner to ICU rooms if their conditions become severe.

“The Bank foresees that the establishment of Light of Heart Field Hospital not only helps our community as well as its surroundings, but also lightens the burden on medical staff during the severe pandemic situation. The field hospital has fully supported the hospital's proactive search to help screen patients with no or few symptoms so they can be treated at this field hospital. At the same time, the project is in line with the Bank's mission to help various sectors to deal with the Covid-19 situation such as donating 40 million baht to four hospitals to fight against Covid-19, collaborating with the Social Security Office Area 8 to use the Bangkok Bank club area as a vaccination service point for those insured by social security, and providing ATK test kits with Bualuang Care boxes containing medicines and medical supplies to take care of Covid-19 patients and high-risk groups in the most restrictive areas,” concluded Mr. Thaweelap.

 

Bangkok Bank presented the Royal Kathin in 2021 to Wat Manee Sathit Kapittharam, a royal temple in Uthai Thani province. This marks the 55th year of upholding this tradition to preserve the Buddhist culture through a donation of 11,671,858 baht from customers, staff, government agencies and the local people.

Bangkok Bank presented the Royal Kathin in 2021 to monks who have completed the three-month Buddhist Lent at Wat Manee Sathit Kapittharam, a royal temple in Mueang Uthai Thani District of Uthai Thani province, marking the 55th time the Bank has presented the Royal Kathin. This year, the ceremony was presided over by Bangkok Bank Directors Amorn Chandarasomboon and Chokechai Nijianskul, Senior Executive Vice President Suvarn Thansathit, Director and Executive Vice President Thaweelap Rittapirom and Corporate Secretary Apichart Ramyarupa.

Bangkok Bank Executives and staff as well as Uthai Thani governor Kajornkiat Rakpanichmanee, deputy governor Alongkot Worakee, civil servants, representatives of the government sector, customers and local people joined the ceremony. With the concerted efforts of staff, customers and the general public, a donation of 11,671,858 baht was raised to give to the temple.

Bangkok Bank was the first financial institution to be honored with the commission of taking the Royal Kathin to temples under royal patronage in all regions in Thailand and other temples in neighboring countries. The Bank began presenting the Royal Kathin in 1967 and 2021 was the 55th year of upholding this tradition to preserve the Buddhist culture and traditions.

Wat Manee Sathit Kapittharam, the royal temple was built in 1888 and was originally called Wat Manee Thudongsong Mullikawat located on Maneerat Road in Uthai Mai sub district in Mueang Uthai Thani district of Uthai Thani province covering five rai, one ngarn and 42.2 square wah of land. People near the temple call it Wat Thung Kaeo as they commonly call the area in which the temple located “Thung Kaeo” for its vast fields popular among monks when on pilgrimage.

On March 18, 1935, there was a major fire at Sakae Krang Market. Fire broke out at the market and houses in the south and west of Wat Khwit. Although the temple's buildings were not damaged by the fire, the government had to reorganize the city plan to build the market and houses. The road cut through the land of Wat Khwit on three sides, namely Sri Uthai Road, Maharat Road and Sakae Krang Road. Therefore, Wat Khwit was merged with Wat Thung Kaeo. Somdej Phra Wanrat (Heng Khemjaree), the primate of Nakhon Sawan Province, changed the name of Wat Thung Kaeo to “Wat Mani Sathitkapittharam” in 1938 (“mani” which means “glass” refers to “Thung Kaeo” and “kapit” which means “makhwit” refers to “Wat Khwit”). Subsequently, the temple received His Majesty the King’s grace to raise its status to be a third-class royal monastery of ordinary type on March 22, 1993.

In the temple area, there is a holy pond – 14.60 meters wide, 17.40 meters long and 7.19 meters deep. A stone incantation spell in Khmer characters in the middle of the pond sanctified the pond to become holy water to be used in auspicious ceremonies and it was used to cure sicknesses of the villagers in the past. The water from the holy pond (together with water from other sources in Nakhon Sawan Province) was used in the coronation ceremony of King Rama 6 in 1913, Rama 7 in 1925 and in the current reign (Rama 10). The pond was also used for a sacred rite and a water consecration ceremony was held at the Ubosot of Wat Mani Sathitkapittharam on April 9, 2019. In addition, within the temple area, there are many important sanctuaries and buildings such as “Uthai Thammasapa” Phra Pariyattham School, a five-peak stupa with eight meters wide and 16 meters high, Kuti Sunthorn Pramuk, Somdej Phra Wanrat Heng Khemajari Tripitaka Hall, Sala Sangkhasapa and Phra Viharn Luang.

Bangkok Bank also allocated approximately 4.8 million baht for the restoration work including the restoration of the Tripitaka Hall and 39 bathrooms, as well as the improvement of the surrounding landscape in Wat Mani Sathitkapittharam. The Bank also joined the 2021 Kathin ceremonies of important local temples, namely Wat Sanggat Rattan Khiri, Wat Nong Khun Chat, Wat Thammakosok, Wat Uposatharam, and Wat Phichai Puranaram. In addition, the Bank also donated funds to Uthai Thani Hospital and four schools in the province.

Bangkok Bank and Geneva-based global wealth and asset manager the Pictet Group today announced their strategic alliance to enhance wealth management services for Bangkok Bank’s wealth clients in Thailand.

Pictet will provide global wealth and investment management expertise and knowhow to help Bangkok Bank enhance its wealth management solutions in Thailand. This will benefit Bangkok Bank’s clients by offering them broader international investment capabilities across asset classes, as well as wealth management services and solutions focused on helping them protect, grow and preserve their wealth for future generations.

Bangkok Bank and Pictet have already collaborated on several key initiatives this year. In September, Bangkok Capital Asset Management Company Limited (BCAP), a subsidiary of Bangkok Bank, launched two funds which are exclusive for Bangkok Bank clients, the BCAP Global Multi Asset Fund and BCAP Global Multi Asset Plus Fund, with Pictet as the investment advisor. BBL Asset Management Company Limited (BBLAM), another bank subsidiary, earlier this year launched the Bualuang Sustainable Investing Portfolio (B-SIP) fund which invests in sustainability funds managed by Pictet Asset Management. BBLAM this week launched two new B-SIP funds, Bualuang Sustainable Investing Portfolio Super Savings Fund and Bualuang Sustainable Investing Portfolio RMF.

Mr. Claude Haberer, an Equity Partner of Pictet and Chairman of Pictet Wealth Management Asia, will join Bangkok Bank as an advisor to the President of the Bank from January 2022, after his retirement from Pictet.

Mr. Chartsiri Sophonpanich, President of Bangkok Bank, said, “The products and services Bangkok Bank will develop with Pictet Group through this alliance will help us create more value for our wealth clients, complement their existing portfolio management and investment strategies with more sophisticated solutions, and help preserve their wealth for generations to come.

“Our clients will benefit from Pictet Group’s 200 years’ of deep experience in wealth and asset management, its tradition of long-term investment and superior returns, global macroeconomic insights, sophisticated technology platforms and strong values around family wealth planning,” Mr. Sophonpanich added. “We look forward to welcoming Mr. Claude Haberer and the deep wealth investment experience he will bring to Bangkok Bank and building on the common values which Bangkok Bank and Pictet Group share, especially our commitment to working closely with clients to earn their trust and confidence and building long-term relationships.”

Mr. Renaud de Planta, Senior Managing Partner of Pictet, said, “We look forward to this strategic alliance with Bangkok Bank, with whom we not only share the goal of bringing further wealth management expertise to Thailand, but also a strong and enduring corporate culture focused on the long-term. Pictet has been serving private clients in Asia for more than 30 years, it is a priority region for us. We plan to bring to Bangkok Bank and its clients our investment leadership, rooted in our independence as a group, as well as our own experience in succession and transmission of ownership over two centuries, with a focus on continuity, stability and sustainability.”

“We thank Claude for his dedication and his important contribution in building Pictet’s Wealth Management franchise in Asia over the past decade. We wish him all the best in his new role with Bangkok Bank, which will help ensure strong ties for the strategic alliance,” Mr. de Planta added.

In the third quarter of 2021, Thai economy continued to be affected by the Covid-19 Delta variant and tight lockdown restrictions imposed by the government to control the spread of the virus. Private consumption and spending continued to decline due to weak household purchasing power despite the government’s supportive measures. Furthermore, the Thai economy was still being affected by international travel restrictions and international tourist arrivals remained low. The pace of exports slowed as demand from trading partners softened after the outbreak situation abroad worsened. Nonetheless, in September 2021, after the number of new infections decreased and the proportion of vaccinated people increased, the government partially eased some lockdown measures leading to a slight improvement in the economy. However, Thailand’s economic recovery is still vulnerable to the ongoing Covid-19 pandemic. The continuation of government support is still needed to underpin the economic recovery and help all sectors to recover from the crisis.

Bangkok Bank has continuously supported government measures and continue to help customers affected by Covid-19 pandemic with appropriate assistance in line with individual and business customers’ situations. At the same time, the Bank has placed importance on prudent risk management, together with maintaining its financial stability, liquidity and strong capital positions.

Bangkok Bank and its subsidiaries’ performance for the first nine months of 2021

In the first nine months of 2021, Bangkok Bank and its subsidiaries reported a net profit of Baht 20,189 million, an increase of 36.6 percent from the same period last year. Net interest income rose by 4.6 percent due to the consolidation of Permata’s net interest income since May 2020 and lower interest expenses resulting from cost management. The net interest margin stood at 2.10 percent. Non-interest income rose by 27.6 percent mainly due to an increase in net fees and service income from higher fee income from securities business and loan-related services, together with an increase in gain on financial instruments measured at Fair Value Through Profit or Loss (FVTPL), in line with the market situation. Operating expenses rose by 4.6 percent while a cost to income ratio declined to 48.4 percent. The Bank set aside expected credit losses under its prudent approach as it continues to assess the impact of the Covid-19 pandemic on the Thai economy and to prepare for and accommodate uncertainty.

Bangkok Bank continues to maintain its healthy financial position, high liquidity and capital positions, under a prudent management approach, in response to a delay in the economic recovery and uncertainty

At the end of September 2021, the Bank’s total loans amounted to Baht 2,523,772 million, an increase of 6.6 percent from the end of last year, owing to loans to large corporate customers and loans made through the international network. Meanwhile, the non-performing loan ratio remained at 3.7 percent. The Bank continues to set aside expected credit losses to cover the delayed and uncertain economic recovery, with the ratio of loan loss reserves to non-performing loans remaining strong at 198.9 percent.

As of September 30, 2021, the Bank’s deposits amounted to Baht 3,124,277 million, an increase of 11.2 percent from the end of December 2020. The rise reflected customers’ desire to maintain highly liquid assets during a time of uncertainty. Accordingly, the loan to deposit ratio stood at 80.8 percent. In September 2021, the Bank issued 15-year Subordinated Notes qualified as Basel III-complaint Tier 2 capital amounting to USD 1,000 million, which further strengthen the Bank’s well mixed of capital structure. At the end of September 2021, the total capital adequacy ratio, Tier 1 capital adequacy ratio, and Common Equity Tier 1 capital adequacy ratio of the Bank and its subsidiaries stood at 19.7 percent, 16.1 percent and 15.3 percent respectively, comfortably above the Bank of Thailand’s minimum capital requirements.

 

Bangkok Bank received a plaque of honor from Deputy Prime Minister and Public Health Minister Anutin Charnvirakul expressing appreciation of the Bank’s support with the Ministry’s Mor Prom Call Center which served as a channel for providing reliable information to the public during the crisis.

Bangkok Bank Director and Executive Vice President Mr. Thaweelap Rittapirom and Senior Vice President and manager of Phone Banking Center Nitaya Phithaksphongs represented Bangkok Bank to receive the plaque from Deputy Prime Minister and Public Health Minister Anutin Charnvirakul. The award marked Bangkok Bank’s support of the Public Health Ministry’s Mor Prom Call Center, which served as a channel for reliable advice and information about keeping safe during the Covid-19 pandemic, as well as information about vaccination, a topic of significant public interest.

The Ministry of Public Health and the Thai Bankers’ Association organized the Mor Prom Call Center to provide the public with access to reliable information and advice on Covid-19 and vaccinations, which were filtered by the Ministry for accuracy. Using the skills and expertise gained from providing customer service through a banking call center, the Mor Prom Call Center was able to support the government in distributing Covid vaccines to a wider group of people.

Under this collaboration, Bangkok Bank assigned a team from the Bank’s call center to participate in taking calls and provide information and advice on the Mor Prom Call Center at 0 279 2233. Bangkok Bank was one of six banks who are members of the Thai Bankers’ Association to participate in the project, which began on May 19, 2021. The Bank has extended its participation until October 31, 2021.

“Supporting the Mor Prom Call Center is another important mission that will help people. Bangkok Bank is proud to be a part of this mission, especially in a critical situation like this where there is a lot of fake or distorted news. This may lead to confusion, affecting the life and health of people, making the situation even worse. During this project, we were proud to help many people who were suffering get through the crisis and to gain access to appropriate care from relevant agencies. This reflects the Bank’s commitment to be a “trusted partner and reliable close friend” who is ready to sand by Thai society under every circumstance,” said Mr. Thaweelap.

 

Bangkok Bank President Chartsiri Sophonpanich donated Antigen Test Kits, together with medical supplies and necessities, in Bualuang Care boxes for Covid-19 patients with mild symptoms who are in the home / community isolation program or at high risk of infection. Altogether 6000 sets are being given out which will be distributed in maximum and strict control zones. This emphasizes the Bank’s status as a “trusted partner” standing alongside the Thai people during times of crisis.

In the Bualuang Care box there are two ATK test kits and medical supplies including two bottles of Andrographis paniculate capsules, five packets of paracetamol, 14 packets of anti-congestion tablets, one oximeter with batteries, one thermometer, one box of facial masks (50 pieces) and one bottle of alcohol spray (100 ml). The Bank has coordinated with hospitals in each area to deliver the Bualuang Care boxes to people in maximum and strict control zones.

 

Bangkok Bank Director and Executive Vice President Dr. Thaweelap Rittapirom received the “Most Trusted Bank” award from Thailand’s Most Admired Brand 2021, a survey conducted by BrandAge magazine. It is the 21st year the award has been organized. The award evaluates the credibility of brands and consumers’ deciding factors in purchasing or using services across the country, including ratings from marketers who have knowledge of the brand of each organization. The winners were selected through an intensive screening process according to academic principles at every step. The award is an index that helps measure the perception and popularity of brands in the eyes of consumers.

Bangkok Bank expands its presence in the Transaction Banking market by increasing the efficiency of financial transactions during the crisis while responding to needs of all business customers. The Bank has focused on four elements that have helped to gain market share: being customer centric, expertise and knowledge, innovative technology and a comprehensive network. In addition, the Bank has won 17 awards from world-class financial magazines in 2020, reflecting the Bank’s outstanding vision and efficiency.

Bangkok Bank Executive Vice President Pipat Assamongkol revealed that the Bank set a target of providing Transaction Banking services to business customers this year to cover all segments, leveraging cutting-edge technology to develop products or solutions in line with today's competition and increasingly digital consumer behavior. These services include a Blockchain Solution that has revolutionized Letter of Credit (L/C) and Letter of Guarantee (L/G) transactions with greater speed, efficiency, security and verifiability, a Digital Payment Solution that applies QR technology to facilitate and increase the efficiency of receiving and paying funds with all types of business partners, and API Payment that makes payments faster and increases efficiency of liquidity management for businesses. Today, more than 150,000 leading business customers both in Thailand and overseas have trusted the Bank's Transaction Banking services.

Transaction Banking offered by the Bank comprises various services that will increase the efficiency of financial management such as Cash Management, Trade Finance, Supply Chain Finance and Securities Services. These enable the Bank to offer total solutions that fully meet the needs of business customers. At the same time, it is in line with the Bank’s commitment to be a “trusted partner” who is ready to stay by your side and support business customers with four areas as follows:

1. Being customer centric to understand customer needs and develop services or solutions that help solve the pain points of customers' businesses, such as offering All-in-One packages to SME customers doing business domestically and importers or exporters by supporting a full range of online and offline transactions.
2. Having experienced personnel with expertise and knowledge in the services who are ready to offer proper advice in a timely manner.
3. Selection of cutting edge and appropriate technology and innovation which are secure and reliable to continuously develop services.
4. Having a branch network in Thailand and major economies of the world particularly in Asia, in line with the vision to be a regional bank, which has enabled the Bank to expand transaction banking capabilities to our overseas branches to facilitate businesses and increase the efficiency of financial management.

“Entrepreneurs have faced significant challenges due to the Covid-19 outbreak during the past 1-2 years and the situation is likely to persist throughout the year as the economy still has not fully recovered. To survive, businesses must adapt, especially in terms of financial management to be as efficient as possible. For example, businesses can benefit from quicker financial transactions with less need for process and greater liquidity to cope with any emergency. At the same time, businesses have to manage relationships with partners and customers and explore new markets. All of these aspects can be managed by Bangkok Bank’s Transaction Banking services.”

Mr. Pipat added that the Transaction Banking services are well received by the Bank’s customers and its quality of services has been reaffirmed by the Bank winning 17 awards from world-class financial magazines in 2020, such as “Best Cash Management Solution in Thailand 2020” and “Best Trade Finance Solution in Thailand in 2020” from Alpha Southeast Asia, an Asian leading investment magazine as well as “#1 Market Leader Ranking in Thailand 2020”; as well as “#1 Global Market Leader for Thai Baht Currency Transactions” and “#1 Market Leader in Asia Pacific” from Euromoney, a leading UK financial magazine, among others. These awards reflect the outstanding capability of the Bank’s Transaction Banking services, the use of modern technology, skilled personnel to advise and support business operations of customers quickly and comprehensively, and the Bank’s ability to forecast and evaluate the development direction of services or solutions to meet the needs of businesses.

“The Bank places great emphasis on upgrading its business ecosystem in line with current business practices, such as joining government agencies in the “BOT Smart Financial Infrastructure” development project. This will help transform the end-to-end domestic trading process and simplify the manual workflow, improving work efficiency and increasing opportunities for entrepreneurs to access funding conveniently and quickly. We are involved in building a strong and comprehensive network platform in the trade finance business group using Blockchain technology to develop a platform to connect customers, their partners in Bangkok Bank and partner banks’ networks to provide loans. The Bank is also accelerating the cooperation with other partners, for both public and private sectors, that play an important role in the trade finance business to provide a seamless experience in doing business, manage capital and provide One Stop Service for payment,” Mr. Pipat concluded.

 

Bangkok Bank Director and Executive Vice President Mr. Thaweelap Rittapirom (2nd from right), presented a 1,000,000 baht (one million baht) donation from Bangkok Bank, as “a trusted partner and reliable close friend”, to support the National Institute for Emergency Medicine in purchasing Personal Protective Equipment (PPE) for the Special Covid-19 Operation Team (SCOT) who have transported emergency Covid-19 patients, or those with a high risk of infection, to hospital. Mr. Anutin Charnvirakul (2nd from left), Deputy Prime Minister and Minister of Public Health, and Flt. Lt. Dr. Atchariya Pangma (far left), Secretary-General National Institute for Emergency Medicine, received the donation at the Office of the Permanent Secretary, Ministry of Public Health.

Bangkok Bank has continuously delivered assistance to customers and the public at large to fight against Covid-19 through various channels in both the public and private sectors, such as donating money to four hospitals, supporting a Covid budget for the private sector and launching measures to help corporate, SME and retail customers who have been affected by Covid-19 so that we can all get through this crisis together.

 

Bangkok Bank President Chartsiri Sophonpanich signed a Statement of Commitment for “Sustainable Thailand”. The Sustainable Thailand 2021 event was held by the Government Pension Fund, the Ministry of Finance and the United Nations to promote sustainable and responsible business conduct which leads to a strong and stable Thai economy while supporting the UN Sustainable Development Goals and the Paris Agreement, both of which are used as a framework by the global community to develop a sustainable society, economy and environment. This is in line with the Bank’s commitment to be “a trusted partner and reliable close friend” who strives to be a part of sustainable development. The Bank aims to integrate sustainable concepts and businesses conduct with concerns of environment, society and good governance into its business strategy.

 

Bangkok Bank is accelerating its Digital Banking strategy with the continuous expansion of services to support digital lifestyles. Recently, the Bank joined Counter Service Co., Ltd. to add channels for identity verification to open savings accounts via the Be My ID service at more than 13,000 7-Eleven stores nationwide to support the growing demand for transactions via digital channels while increasing access to government relief measures and supporting Covid-19 control measures.

Bangkok Bank Executive Vice President Prassanee Ouiyamaphan said to achieve the goal of becoming a digital-first bank, Bangkok Bank places great emphasis on accelerating its digital transformation. The strategy focuses on innovation and technology development to create a digital platform to offer products and services that meet the needs of and are in line with customers’ current lifestyles. The Bank has continuously improved its digital banking services, especially the upgrade of Bangkok Bank Mobile Banking to meet the needs of customers in transactions, investments, and functions for digital lifestyles such as cardless withdrawal, overseas funds transfer as well as online account opening for e-Savings and funds.

The Bank’s objective is to enhance the digital experience for customers and enable seamless and convenient transactions. Therefore, the Bank has increased options and expanded the service points for identity verification using Citizen ID or Be My ID via counter service in 7-Eleven stores with more than 13,000 locations across the country that can support transactions 24 hours a day (service hours of the specific store may change depending on the area where official measures have been announced). This service, which will provide greater convenience to customers, will start from September 15, 2021 onwards.

Mrs. Prasanee added that the service will be of great benefit and convenience to customers in the current situation where many areas are under Covid-19 control measures. Bank branches that are still open must comply with control measures by limiting the number of people and adjusting service hours which may affect customer service. Therefore, the Bank has tried to encourage customers to make transactions via Bangkok Bank Mobile Banking for their safety, particularly to open e-Savings accounts which can lead to other transactions such as savings, funds transfers, top-ups, payments for products and services as well as investments with greater convenience as customers do not have to visit a branch.

The Bank expects higher demand from customers to open a savings account to receive financial aid and other relief measures from the government which will be paid to an account linked to PromptPay. Customers opening a savings account with Bangkok Bank for the first time will need to verify their identity. These customers can use the Be My ID service to verify their identity at 7-Eleven which has a great number of easy-to-access branches and provide fast and convenient services. Current Bangkok Bank Mobile Banking customers can open an e-Savings account immediately.

“Be My ID is like a door to link and facilitate customers to make transactions by themselves conveniently and reduce limits on the Bank’s service and working hours. Recently, 13,000 service points in 7-Eleven by Counter Service have facilitated customers to make various transactions including deposit and withdrawal more conveniently. The Bank believes this service will be well received by customers,” said Mrs. Prasanee.

Counter Service Company Limited Senior Vice President Mr. Weeradej Ackapolpanich said the collaboration between these two companies have promoted digital transactions as an alternative channel for Bangkok Bank customers. Counter Service’s service points are available nationwide in 7-Eleven outlets and can reach customers and communities in many areas to provide convenient and fast services. This has also supported the government’s social distancing measures during Covid-19.

Customers who want to open an e-Savings account can download the Bangkok Bank Mobile Banking app to open an account online and verify their identity via By My ID. Customers can bring the 7-digit code received from Bangkok Bank Mobile Banking together with their ID card (smart card) to any 7-Eleven store to perform the authentication to open an account, available 24 hours a day (service hours may change depending on the area where government measures have been announced). The process at the store will consist of entering the 7-digit code, inserting your ID card into the electronic data capture machine (EDC), taking a photo and receiving a statement indicating successful authentication. Customers can now use the Bangkok Bank Mobile Banking app to open an account and start using their e-Savings account immediately.

Get a free Shopee discount code or Starbucks e-Coupon worth 200 baht when applying for the Bangkok Bank Mobile Banking app, opening an e-Savings account, and completing two transactions within seven days after successfully opening an e-Savings account from September 1 to November 30, 2021. In addition, customers can apply for the PromptPay service by themselves via Bangkok Bank Mobile Banking.

For more information about e-Savings account opening, the authentication process including Be My ID service points and other bank information, please visit Bangkok Bank website, Bangkok Bank LINE Official or call 1333 or 0 2645 5555.

 

Bangkok Bank would like to apologize for any inconvenience caused by its temporary closure of services for system maintenance to enhance service efficiency from Friday, September 24, 2021 at 10:30 p.m. to Saturday, September 25, 2021 at 10:30 a.m. Bangkok Bank customers will not be able to access any Bangkok Bank services during that time.

All Bank services will resume as normal on Saturday, September 25, 2021 at 10:30 a.m.

We apologize for any inconvenience caused and recommend that you plan necessary transactions in advance. For more information, please call Bualuang Phone 1333 or 0 2645 5555.

Bangkok Bank further develops its BeWallet application to meet the needs of Thai people travelling abroad. The upgraded BeWallet app allows customers to link their deposit account, debit card or credit card to scan Quick Response (QR) Code to pay for goods and services while abroad. The Bank joined UnionPay International (UPI) and Thai Payment Network (TPN) to launch the UnionPay QR Code By Bangkok Bank, a QR Code cross border payment service via mobile phone, which offers convenience and safety without customers having to worry about exchange fees. The service will be available today (September 7, 2021) onwards. The Bank is confident that the service will meet the needs of travelers when countries are open for tourism again.

Bangkok Bank Executive Vice President, Manager Credit Card Division, Shoke Na Ranong said that Bangkok Bank has continuously developed a wide range of solutions to reduce restrictions on the payment of goods and services while supporting the market and serving the lifestyles of today's customers which are constantly changing. This is to reinforce the Bank’s status as the “first mover” and a leading provider of “digital payment total solutions”. Recently, the Bank has further developed the BeWallet app to make it easy to make payments abroad by linking the app to a Bangkok Bank deposit account, debit card or credit card. Customers can simply open the app and scan the QR Code at stores to pay for goods conveniently and safely without having to carry cash or credit card.

The Bank is collaborating with UPI and TPN to introduce a form of payment for goods and services via the UnionPay QR Code By Bangkok Bank by using the BeWallet app linked to a deposit account to scan QR code to pay for goods and services at more than 30 million stores within the UnionPay QR Code network in 45 countries and regions including popular destinations such as Australia, China, Hong Kong/Macau, Japan, New Zealand, Singapore and Taiwan.

Mr. Shoke said “The UnionPay QR Code By Bangkok Bank is developed using cross border mobile payment technology. Once a bank account is linked with the BeWallet app, customers can make payments with a UnionPay QR Code. This offers customers an alternative for convenient spending and secure payment. Customers can pay for goods and services globally even without credit cards. Especially when people travel overseas, this innovation can ease their worries about having to exchange money or carrying a lot of cash. With this service, customers can scan and make payments in a local currency at the Currency Real Time rate which means the payment amount deducted from the account uses the exchange rate at transaction time. So, customers don’t have to worry about currency fluctuation and can enjoy a lower exchange rate than when using a credit card.”

UnionPay QR Code By Bangkok Bank will be available today (September 7, 2021) onwards. Customers can use the service via the BeWallet app. To make it more convenient, customers will be able to use the service via Bangkok Bank Mobile Banking soon.

This service does not only serve the needs of people traveling overseas. Customers who enjoy making online purchases via e-commerce from overseas merchants also can use the BeWallet app and the UnionPay QR Code By Bangkok Bank to make payments. This is an important opportunity for the Bank to access this group of customers who are familiar with digital payment channels. Information from the Bank of Thailand shows overseas online transactions made by debit cards in 2020 amounted to 30 million transactions, a 25% increase, totaling 17 billion baht.

“The Bank is confident that the BeWallet app together with the UnionPay QR Code By Bangkok Bank will benefit both customers making online purchases from overseas merchants and those traveling overseas where they can now make payments conveniently and securely. This is in line with customer behavior in the New Normal era as they are cautious about physical contact including with cash or cards. So, payments made with digital systems and QR Code scanning using a mobile phone fit well within this behavior. Once the Covid-19 situation improves, and many countries including Thailand reopen for domestic and international travel, the BeWallet app and the UnionPay QR Code By Bangkok Bank will be one of the payment services from Bangkok Bank ready to support customers to live their normal lives,” said Mr. Shoke.

Mr. Huiming Cai, General Manager, UnionPay International Southeast Asia said “UnionPay International is delighted that users of BeWallet will soon be able to make UnionPay QR Code payment around the world when travel reopens. As a leader in enabling QR Code for payment globally, UnionPay International works closely with Bangkok Bank and TPN to ensure that Thai customers can make UnionPay QR Code payment in a quick, safe and easy manner anywhere they travel to. In addition, UnionPay QR Code uses the EMV specification which is in line with global payment security standards. Our continuous push to encourage usage of QR Code payment will play an important role in promoting a more hygienic and inclusive cashless environment.”

Ms. Vipawan Yongvikul, General Manager, Thai Payment Network Company Limited (TPN) said, “As Thailand’s first electronic payments network for local debit cards (Local Card Scheme), TPN is very pleased to join Bangkok Bank and UnionPay International in supporting this service. It’s the first time in Thailand that customers can directly link Bangkok Bank savings accounts with the mobile app BeWallet and use it to make international payments using QR Code across over 30 million UnionPay’s merchant network globally, adding more payment options on top of debit and credit cards. This is a financial innovation that meet customers’ needs as it’s convenient, fast, secure and cost-effective. The company is confident that this service will be well-received by customers wanting to travel overseas.”

Interested customers can download the BeWallet app, available in both Android and iOS, and find more information about UnionPay QR Code By Bangkok Bank or the Bank at Bangkok Bank channels or call Bualuang Phone 1333 or 0 2645 5555.