Bangkok Bank joins the Revenue Department to launch e-Withholding Tax system
October 27, 2020
Bangkok Bank joins Money Expo 2020 to showcase three product and service zones and offer financial experiences in the New Normal era
October 22, 2020
Bangkok Bank, led by Director and Executive Vice President Dr. Thaweelap Rittapirom, Senior Executive Vice President Siridej Aungudomsin, and Executive Vice President Pochanee Kongkalai, welcomed Bank of Thailand governor Dr. Sethaput Suthiwart-Narueput, President of Money Expo Santi Viriyarangsarit, and Chairman of the event Pakanee Viriyarangsarit during the opening ceremony of Money Expo 2020 to visit the Bank's booth. The Bank divided its booth into three zones: Smart Lifestyle, Financial Freedom and Investment Plan to support customers’ financial needs in the New Normal era, while reaffirming its motto “puan koo kit” by providing assistance measures to help customers get through the COVID-19 crisis. The 20th Money Expo was held from October 22-25, 2020 at Challenger Hall 1-2, IMPACT Muang Thong Thani.
Director and Executive Vice President Dr. Thaweelap Rittapirom said that the Bank participated in Money Expo 2020 under the concept of “Bangkok Bank Wealth Journey”. During the event, the Bank offered a wide range of financial products and services covering savings, investment and loans to meet consumer needs in the New Normal era, as well as digital financial experiences to serve customers anytime, anywhere in line with current consumer behavior, while enabling them to directly access supportive measures to combat COVID-19 from the Bank’s financial experts and business partners.
This year the Bangkok Bank booth comprising an area of 1,000 square meters was divided into three zones providing financial products and services according to participant interest, promoting a cashless experience to help consumers manage their finances more conveniently and quickly. The three zones were:
Bangkok Bank joins Index Living Mall, Tesco Lotus and Uniqlo to promote a cashless society in Q3 by offering up to 300-baht cash back
October 21, 2020
Bangkok Bank reports net profit of Baht 14,783 million for the nine months of 2020
October 20, 2020
Bangkok Bank presents the Royal Kathin 2020 to Wat Mahachai, a Buddhist temple under royal patronage in the northeastern province of Mahasarakham, to preserve the Buddhist culture
October 14, 2020
Bangkok Bank joins “Money Expo Udonthani 2020” to offer financial experiences in the New Normal era to help customers get through the crisis
October 09, 2020
Bangkok Bank Director and Executive Vice President Dr. Thaweelap Rittapirom welcomed Ruenvadee Suwanmongkol, Securities and Exchange Commission Secretary-General, Nitipat Leelalertlaew, Udonthani Deputy Governor, Santi Viriyarangsarit, President of Money Expo, and Pakanee Viriyaangsarit, Vice President of Money Expo, who attended the opening ceremony of “Money Expo Udonthani 2020” and visited the Bank’s booth. The event features a variety of financial products and services from the Bank and its partners to meet the needs of customers in the New Normal era to help customers get through the crisis.
Bangkok Bank Director and Executive Vice President Dr. Thaweelap Rittapirom said, “Bangkok Bank was proud to join Money Expo Udonthani 2020 under the concept of “Bangkok Bank Wealth Journey” to provide financial products and services for customers in Udonthani and neighboring provinces including savings, investment advice, loans and supportive measures for those affected by the COVID-19 outbreak from Bangkok Bank financial experts and leading partners.”
For the safety of attendees, the Bank organized the event with measures to prevent the spread of COVID-19 in accordance with the rules of the Centre for COVID-19 Situation Administration (CCSA) and the organizer with the support of 35 staff. Everyone inside the booths will wear masks and face shields, and there will be hand sanitizer available. Tables and chairs will be set up in line with social distancing rules and equipment inside the booth will be cleaned with alcohol every 2 hours.
For this year’s highlights, the Bank offers a variety of products and services including loans, insurance, credit cards, deposit accounts and property for sale. The Bank also provides financial experiences for a digital lifestyle in a cashless society that will help consumers manage their finances more conveniently and quickly. These products include Bangkok Bank Mobile Banking which has recently been updated to better respond to the needs of customers, BeMerchant NextGen – an application for merchants that allows their customers to make cashless payments via QR Code, and Bualuang Smart Bill Payment – a solution for SME businesses to offer a one-stop payment service with QR Codes via the Bangkok Bank Mobile Banking system.
In addition, the Bank is offering products that increase the potential for wealth generation and deal with risks in uncertain situations that cover investment, credit, and insurance. These products include mutual funds; Super Savings Fund (SSF) – a long-term investment strategy with tax benefits; Be1st Smart card that allows a cashless society to operate securely; Bancassurance; and Bualuang Property as well as credit card and SME loans.
The Bank has launched measures to help debtors to overcome the COVID-19 situation. The Bank is ready to help customers get through the crisis by providing useful advice and guidelines to ease the burden of retail customers and SMEs. Supportive measures for Bualuang loan and unsecured personal loan customers include a 3-month loan holiday and at least a 30% reduction in installments. The Bank also helps ease the burden of retail customers by reducing the minimum installment payment rate from 10% to 5% until December 31, 2021 for all types of Bangkok Bank credit cardholders. Customers can ask for advice on the various measures as well as financial planning directly from bank staff and partner companies at the event.
Furthermore, business customers who use loan services of Bangkok Bank and other financial institutions with a credit limit of 50-500 million baht can apply for the BOT’s DR BIZ project. Bangkok Bank has joined the project that aims to increase the efficiency of debt management for all financial institutions in an integrated and comprehensive manner. The project, which helps customers to survive the current challenging situation, includes fixing old debt such as reducing installment payments, extending debt repayment periods, adjusting conditions to suit customer needs and/or setting the appropriate grace periods and installment periods. In addition, the project also provides new loans to promising debtors with a clear business plan, intention to conduct business seriously, and good debt repayment behavior to help their business move forward. The DR BIZ project is open for applications until December 31, 2020. Those interested in participating this project can ask for more information at the Bangkok Bank booth at the event.
This year's promotional activities include free Body Composition check-ups from Bangkok Hospital Udon worth 599 baht and e-Stamp collection via QR Code or when applying for products and services at the event. These activities are organized to offer digital experiences in line with the New Normal era while creating a fun atmosphere by providing special prizes and gifts for customers at the event, including:
Bangkok Bank integrates its Indonesia branches into PermataBank International network covers more than 300 branches in 14 economies
October 07, 2020
Bangkok Bank received in-principle approval from OJK to integrate its three Indonesian branches into its subsidiary PT Bank Permata Tbk (“PermataBank”), which has more than 300 branches. This reinforces Bangkok Bank’s position as the Thai bank with the largest international network.
Bangkok Bank President Chartsiri Sophonpanich said the bank received in-principle approval from the Financial Services Authority of Indonesia (OJK) to integrate its three Indonesian branches including Jakarta, Surabaya and Medan into its subsidiary PT Bank Permata Tbk (“PermataBank”), which has more than 300 branches in 62 cities across Indonesia and has led Bangkok Bank to be the Thai bank with the largest international network. The contribution of international loans to the bank’s total loans increased from 17% to 25% as a result of the investment in PermataBank. This aligns with the Bank’s strategy for stable and sustainable growth.
“The integration was a condition of OJK’s approval for Bangkok Bank to acquire an 89.12% shareholding in PermataBank on May 20, 2020. The process, which is expected to be completed within December this year, marks a significant milestone in Bangkok Bank’s history and will take its strategy of creating value through regional expansion to another level as well as strengthening the Bank’s foundation. This will not only support Bangkok Bank and PermataBank customers in Indonesia but provide our regional customers with new growth opportunities and a broader range of products and services suited to their needs while delivering value for our shareholders.”
Mr. Chartsiri added that the integration, which is expected to be completed within December this year, will provide Bangkok Bank’s customers in Indonesia with access to a more complete and comprehensive banking experience through PermataBank’s network of more than 300 branches across Indonesia and its retail, Sharia, financial services that comply with Islamic law, and best-in-class digital banking services, as well as wider access to rupiah financing. These services were not previously available through Bangkok Bank Indonesia.
“Bangkok Bank has been present in Indonesia for more than 50 years and opened its first branch there in Jakarta in 1968. Bangkok Bank’s acquisition of PermataBank will enable both banks to leverage each other’s expertise and strengths in areas such as supporting large corporates and SMEs to expand their businesses. In particular, Bangkok Bank’s strong international network and relationships with top corporates across Asia, as well as its expertise in international trade finance services and industry knowledge will enable PermataBank to support its clients with high quality financial products and services and to access markets outside Indonesia through Bangkok Bank’s network in Thailand and other countries. Meanwhile, Bangkok Bank is committed to supporting customers across industries, including the agriculture and automotive sectors, in achieving its business goals and promoting financial inclusion and financial literacy,” Mr. Chartsiri said.
About Bangkok Bank
Bangkok Bank, established in 1944, is Thailand’s largest bank by total assets (Baht 3,806.3 billion or US$123.2 billion as of June 2020) and the 6th largest Southeast Asian bank by total assets. A leading diversified regional bank in Southeast Asia, it has more than 17 million customer accounts and 1,000 branches in Thailand. It is Thailand’s most international bank with more than 300 branches in 14 economies outside of its home market. Bangkok Bank has a presence in nine ASEAN countries as well as branches in Hong Kong, Japan, Taiwan, the United Kingdom and the United States. Its major international subsidiaries are PermataBank, Indonesia’s 12th largest bank by total assets, Bangkok Bank (China), with six branches providing coverage across the major regions in China, and Bangkok Bank Berhad, with five branches across Malaysia.
PermataBank is Indonesia’s 12th largest bank by total assets (as at December 31, 2019) and Bangkok Bank’s largest investment. Bangkok Bank completed acquisition of 89.12% of PT Bank Permata Tbk (“PermataBank”) on May 20, 2020. It provides comprehensive financial services to more than 3 million customers across Indonesia through its network. 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.
Bangkok Bank takes Bank of Thailand team to visit three SME customers - Mana Orchid Farm, Sense of Place and Raya Green Coconut
September 28, 2020
Bangkok Bank Executive Vice President, Head of Provincial Business Banking Chonganan Anantasak took a team from the Bank of Thailand’s Supervision Group 1 under Banking Supervision Department 1 led by Senior Director Yongsak Seanglaw to visit three of Bangkok Bank’s SME customers to get a briefing about the COVID-19 situation and ideas on how to mitigate its effects on businesses. The customers were Mana Orchid Farm Managing Director Eaknat Kujaroenchaimanatee, representing the large Nakhon Pathom orchid farm, Thailand’s leading source of knowledge and development of dendrobium orchids for domestic sales and export to foreign countries; Sense of Place Managing Director Mitchai Phongnetvilai, operating the riverside café and restaurant, a trendy new check-in destination in Ratchaburi; and Raya Green Coconut Company Limited Managing Director Sanya Jaemjaroon, repersenting Ratchaburi manufacturer of coconut products and processed coconut water for export. These three customers have felt the effects of the COVID-19 crisis but have managed to survive and even thrive despite the situation.
Bangkok Bank connects with younger customers at “CAT TSHIRT7” festival with 40 baht discounts on designer T-shirts bought using Bangkok Bank Mobile Banking
September 22, 2020
Bangkok Bank reached out to the younger generation by joining the CAT TSHIRT7 festival and offering 40 baht discounts for T-shirt purchases from any merchant in the festival when scanning to pay using Bangkok Bank Mobile Banking during September 26-27, 2020. The festival was held at the 2nd and 3rd floors, Airport Rail Link, Makkasan Station from 11.00 a.m. onwards.
Bangkok Bank Executive Vice President Prassanee Ouiyamaphan said Bangkok Bank featured booths at Cat Radio’s CAT TSHIRT7 festival. The festival which is popular among young people has been held annually for seven consecutive years. This year’s festival was in a space twice the size of last year and had many interesting activities including sales of Limited Edition T-shirts designed by more than 100 artists and designers, a fashion show, and exclusive concerts on two stages by 20 bands namely Whal & Dolph, Violette Wautier, Ink Waruntorn, Hugo, Dept, Stamp, scrubb, Slur, Better Weather, Zom Marie, Greasy Cafe, BKC Bas - Kimmon - Copter, kiankailaewanich, Nont Tanont, ALIZ, Moving and Cut, Tilly Birds, CGM48, Safeplanet, Death of a Salesman, TELEx TELEXs, Mew Suppasit, Lomosonic and many more.
Bangkok Bank booths provided an account opening service using a Citizen ID card to verify identity, a lucky draw for gift vouchers from Starbucks, The Mall, Tesco Lotus, and many other prizes. To go in the draw customers simply needed to show an e-slip from a transaction made using Bangkok Bank Mobile Banking (each person can get one draw). Visitors to the Bank’s booth also had a chance to meet the artist Greasy Café, who designed Limited Edition T-shirts for the Bank to give away to lucky persons in the festival. The Bank also offered 40 baht discounts for T-shirt purchases from any merchant in the festival using scan to pay on Bangkok Bank Mobile Banking.
“Bangkok Bank joined the CAT TSHIRT7 festival to gain exposure to a wider group of younger people and enhance the Bank’s Brand Engagement. We want to extend the Bank’s customer base by making it easy for them to open an account and providing a better experience for Bangkok Bank Mobile Banking users through the activities and promotions the Bank offered customers at the festival. The Bank expects good results as 15,000 tickets were sold this year, even more than previous years when about 10,000 tickets were bought”, Mrs. Prassanee said.
Bangkok Bank wins four awards from three world-class publications – emphasizing the efficiency of its international trade services that meet the global needs of customers
September 21, 2020
Bangkok Bank Executive Vice President Pipat Assamongkol (3rd from right), Bangkok Bank Senior Vice President and Trade Finance Center Manager Kajohnsak Manaviriyakul (3rd from left) and Trade Finance Center team members celebrated their success as the Bank won four awards from three world-class publications.
The awards are the Best Trade Finance Provider in Thailand and Best DLT Platform for Trade Finance from Global Finance magazine; the Best Trade Finance Bank in Thailand for the 14th consecutive year from Alpha Southeast Asia magazine; and Thailand Domestic Trade Finance Bank of the Year for the 6th consecutive year from Asian Banking and Finance magazine.
They reflect Bangkok Bank’s excellence and capabilities as a trade services provider, understanding of customers’ needs, and expertise regarding the global trade situation. The Bank’s financial stability and technology innovations support the speed, security, data accuracy and good governance of its trade services.
Bangkok Bank receives “Bank of the Year 2020” and Mr. Chartsiri Sophonpanich wins “Financier of the Year 2019” awards from Money & Banking magazine
September 18, 2020
Bangkok Bank received two top awards from Money & Banking Awards 2020 organized by Money & Banking Magazine — “Bank of the Year 2020” and “Financier of the Year 2019” for Mr. Chartsiri Sophonpanich. This is the second time that Bangkok Bank has won both these awards in the same year – the first time was in 2001.
Bangkok Bank Director and Executive Vice President Thaweelap Rittapirom said that it was a great honor for the bank to receive two awards from Money & Banking Awards 2020, comprising “Bank of the Year 2020” and “Financier of the Year 2019” for Mr. Chartsiri Sophonpanich. This is the second time that Bangkok Bank has won both these awards in the same year – the first time was in 2001.
It is the 14th time that the Bank has won the Bank of the Year award since it was first announced 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 per share 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 among the banks at 8.14% which strengthens its reserves and maintains its Capital Adequacy Ratio at a prudent level. The Bank’s Tier 1 capital adequacy ratio (BIS) was 17.01%, the third highest level among Thai commercial banks. Meanwhile, the Bank still aims to support customers to be strong, competitive, and ready for challenges, especially during the COVID-19 situation. At the same time, the Bank places great emphasis on creating new products and services, developing modern technology to increase the efficiency of its business, and forming partnerships to meet the ever-changing needs of its customers. One of the Bank’s most important milestones in 2020 was the acquisition of Permata Bank, the 12th largest commercial bank in Indonesia by total assets with more than 300 branches in 62 cities across the country.
For the “Financier of the Year 2019” award, the judging panel resolved to give it to Bangkok Bank President Chartsiri Sophonpanich. This is the second time that he has won this award – the first time was in 2001. The qualifications for Financier of the Year award cover four criteria – being a visionary and modern professional financier; being honest to the profession; creating sustainable growth for the organization; and being responsible to society and doing good for the public. The judging panel unanimously agreed that given the global economic slowdown and the digital disruption to the banking business, Bangkok Bank, under the leadership of Chartsiri Sophonpanich, has been able to stand strong amid the turmoil. He combines qualities of strength and resilience with the ability to see opportunities to serve the new generation. Meanwhile, he supports the existing base, including both corporate and consumer banking customers, by working closely with partners to continuously develop financial innovations for the organization’s sustainable growth.
“It's the honor and pleasure of the bank’s Board of Directors, executives and employees who have played an important role in the Bank’s success to receive the awards from Money & Banking magazine – a leading and trusted investment finance magazine which is considered the most read economic journal in Thailand. The Bank is committed to using its knowledge and expertise as well as advanced technology to support customers, shareholders, communities, and society as “a trusted partner and reliable close friend” to provide financial stability. In particular, the Bank aims to help customers and communities get through current and future challenges with the vision of being the Bank that provides quality financial services to meet customer needs with efficient personnel and modern technology as a leading bank in Asia,” said Mr. Thaweelap.
Bangkok Bank announces temporary system maintenance to enhance service efficiency and better serve customers
September 11, 2020
Bangkok Bank joins Mastercard to launch contactless feature for “Be1st Smart Rabbit LINE Pay” to serve lifestyles in the “New Normal” age
September 09, 2020
Bangkok Bank has joined with Mastercard to launch a contactless feature for “Be1st Smart Rabbit LINE Pay” to provide users with convenience, speed, and safety to serve lifestyles in the “New Normal” age and the dramatic growth in e-payments. Interested persons can apply now to get special privileges for dining, travelling, and shopping.
Bangkok Bank Executive Vice President and Credit Card Division Manager Shoke Na Ranong said the bank’s “Be1st Smart Rabbit LINE Pay”, a cooperation between Bangkok Bank and Rabbit LINE Pay, is a debit card to serve the lifestyle of Young Gen. Mobile payments can be made with “Be1st Smart Rabbit LINE Pay” that are not only convenient for users but reduce the risks of infection from touching objects. Since the launch of the card at the end of last year, it has been highly successful with growing numbers of users and continuous growth in e-payments.
To better serve the lifestyle of target customers as well as customers in general, the bank has joined with Mastercard to add more functions to “Be1st Smart Rabbit LINE Pay” including a “Contactless” feature. Users can make payments by just tapping the card and it can be used at any merchant with a ‘Contactless’ sign anywhere in the world to pay instantly for products or services. The card is equipped with Be1st Smart Card's unique 6-digit CHIP & PIN technology that ensures maximum security for cardholders. As part of the Mastercard network it can be used both domestically and internationally. In addition, it can be used for e-commerce via the leading platforms used for online shopping in the New Normal age.
“According to Bank of Thailand data the use of e-payments by Thai people has risen by 72% during COVID-19. Over the past 2-3 years it has grown 3-fold, rising from 49 transactions per person per year in 2016 to 151 transactions per person in 2020 (information as of April, 2020). As people become more familiar with e-payments this exponential growth is expected to continue, amplified by worries about COVID-19 due to concerns about touching cash and the ongoing trends of online shopping, and food ordering via digital platforms. With the collaboration with Mastercard, a partner that has a network and technology suitable for the New Normal age, the bank can better serve its target customers. This collaboration will help the bank to achieve its target of one million Be1st Smart Rabbit LINE Pay cardholders”.
“As people in Thailand increasingly adopt a digital-first lifestyle, there is a pressing demand for solutions that enable more interconnected, frictionless, and seamless experiences. To keep up with the way people now live and work, Mastercard is proud to partner with Bangkok Bank to collaborate on a unique smart debit solution for Thai consumers. Mastercard cardholders will now be able to digitally top-up their BTS transit cards and enjoy a more convenient, seamless and touch-free everyday living,” said Aileen Chew, Country Manager, Thailand and Myanmar, Mastercard.
Vithaya Topoyossakul, CEO of Rabbit-LINE Pay said “Concerns about COVID-19 and usage data in the past 2-3 months reflect changes in customers’ online behavior. Many people who have never done online shopping or ordered food via delivery platforms, started to use these services for the first time during COVID-19. We believe these customers will continue making online payments as it is more convenient. The collaboration with Mastercard and the outstanding design of LINE Character Limited Edition from LINE FRIENDS as well as payments through Rabbit LINE Pay enable customers to make faster transactions more conveniently. Customers also get special discount coupons and privileges from many partner merchants. This is in line with its policy regarding cashless payment to fulfil the needs of urban lifestyles and the current situation”
“Be1st Smart Rabbit LINE Pay” debit card via Mastercard Network comes with outstanding designs to attract the young generation featuring four LINE FRIENDS limited-edition characters - Brown, Cony, Sally and Choco. Customers applying for this debit card can link the card to the Rabbit LINE Pay functions, allowing the card to be used as a debit card (money withdrawal, transfer and payment), while money top-up can be done via the Rabbit LINE Pay system, so customers can use the card for traveling via BTS, BRT Express and Chao Phraya Express. Customers can pay for any products and services at more than 6,000 partner merchants nationwide via Rabbit LINE Pay’s e-Wallet. Therefore, the new contactless function will provide more convenience, speed, and safety while reducing the risks from touching surrounding objects and ensuring maximum security for all spending transactions.
Interested persons can apply for a debit card with "Be1st Smart Rabbit LINE Pay", via the Mastercard network, and link the card to the Rabbit LINE Pay function from today – December 31, 2020. New customers will receive a Welcome Gift Limited Edition from LINE FRIENDS worth 890 baht and a discount coupon from leading Rabbit LINE Pay’s merchants worth a total of 500 baht every month throughout the year, totaling a maximum value of 6,890 baht and more privileges from Bangkok Bank and Mastercard such as: A discount of up to 100 baht every month at Shopee, GrabFood, and Dolfin Wallet. (Today - December 31, 2020) according to the Bank’s terms and conditions.
To apply for “Be1st Smart Rabbit LINE Pay” debit card via Mastercard Network, please visit Bangkok Bank’s participating branches. For more information or checking the participating branches, call Bualuang Phone at 1333 or (66) 0 2645 5555.
Bangkok Bank and GCM, a company of GC Group, develop L/C transactions between Thailand-Vietnam on Enterprise Blockchain, the first bank to succeed in revolutionizing the service using “Contour” technology
September 08, 2020
Bangkok Bank joins Money Expo Rayong 2020 to offer financial experiences in the New Normal era
September 04, 2020
Bangkok Bank joins the BOT’s "DR BIZ” project to increase financial partnerships and Thai business stability. The project kicked off on September 1, 2020 and aims to increase efficiency, reduce redundancy, and benefit customers
September 01, 2020
Two big banks enter joint venture for AgriTech startup Ricult to help Thai farmers increase efficiency, enhance quality of life and expand access to credit
August 17, 2020
Bangkok Bank joins “Money Expo Korat 2020” to offer financial experiences in the New Normal era
August 07, 2020
Thammasat University joins Bangkok Bank to develop the TU GREATS app to be a cashless campus and create a digital ecosystem for TU people
July 23, 2020
Bangkok Bank reports net profit of Baht 10,765 million for the first half of 2020
July 21, 2020