Bangkok Bank Executive Vice President Sa-ard Theerarojanawong (3rd from left), and other bank executives, representing the Bank in receiving three awards in the ‘Best Bond Award 2019’ ceremony from Mr. Poomsak Aranyakasemsuk, Director General, Public Debt Management Office, Finance Ministry (3rd from right). The award ceremony was held by The Thai Bond Market Association (ThaiBMA). The Bank this year received three awards, namely Best Primary Market Contributor from the Ministry of Finance, given to a financial institution achieving the highest allocation of government bonds in the primary market, Best Outright Primary Dealer from the Bank of Thailand, given to a counterparty that provides outstanding support for e-Outright transactions to the Bank of Thailand as well as supporting a healthy level of liquidity in the Thailand bond market, and Best Bond Dealer from the ThaiBMA, given to a dealer providing an outstanding service for trade partners in the secondary market. The awards recognize the Bank’s achievement in bond transactions.

Bangkok Bank approved that the dividend payment for the operating results of the year 2018 be paid at the rate of 6.50 baht per ordinary share and resolved to convene the 26th annual ordinary meeting of shareholders on April 12, 2019.

Bangkok Bank President, Chartsiri Sophonpanich said the meeting of the Board of Directors (the ‘Board’) of Bangkok Bank Public Company Limited (the ‘Bank’) No. 2/2019 held on February 21, 2019, at which the Board had adopted the following resolutions. Approved that the dividend payment for the operating results of the year 2018, which dividend was derived from retained earnings that was subject to corporate income tax of 23 percent, be paid at the rate of 6.50 baht per ordinary share, totaling 12,407,478,811 baht, a part of which had been paid as interim dividend at the rate of 2.00 baht per ordinary share on September 28, 2018; that the remaining amount be paid on May 10, 2019 at the rate of 4.50 baht per ordinary share; and that with the record date for determining the shareholders who have the right to receive the dividend payment be April 24, 2019.

And resolved to convene the 26th Annual Ordinary Meeting of Shareholders on April 12, 2019, starting at 15.00 hrs. at the Bank’s auditorium, 29th-30th floor, Bangkok Bank Building, 333 Silom Road, Silom Sub-district, Bangrak District, Bangkok.

 

Bangkok Bank Executive Vice President Mr. Hiroshi Shimamura (right) signed a business collaboration agreement with Japan External Trade Organization (JETRO) Bangkok President Mr. Hiroki Mitsumata (left) to support and promote business collaboration between Thailand and Japan. The collaboration will support economic and industrial development in Thailand and Japan in four areas, namely investment development, trade development, tourism-related business development, and human resource development worldwide. The agreement also strengthens the good relationship and cooperation between Bangkok Bank and JETRO Bangkok as partners driving trade and investment between Thailand and Japan. Ongoing activities include seminars to share investment information and knowledge, business networking and business-matching, and providing trade and investment advice.

Bangkok Bank and GC Marketing Solutions Company Limited (GCM), a company under GC Group, the chemical flagship of PTT Group, have successfully studied and developed trade finance transactions between Thailand and Indonesia on R3’s CORDA Platform using Distributed Ledger Technology (DLT), or Enterprise Blockchain. It is the first time in Thailand Letters of Credit (L/C) transactions have been sent using Enterprise Blockchain and Bangkok Bank is the first Thai bank to join the Voltron project, which will revolutionize international trade by cutting processing time and paperwork by more than half.

Bangkok Bank Executive Director, Charamporn Jotikasthira said the Bank is developing innovative services that will support customers in the digital era. It was entrusted by GCM, a company under the GC Group, to revolutionize Letters of Credit, or L/C transactions, using Distributed Ledger Technology (DLT), or Enterprise Blockchain, for the first time in Thailand. Previously, L/C transactions required many documents but with Enterprise Blockchain, transactions are quicker, easier and more secure as all processes are transparent and can be verified. This breakthrough has cut processing time and paperwork by more than half, and reconciliation is no longer required as all related parties maintain the same set of data and are updated at the same time about status changes. This will enhance the efficiency of the customer’s business and that of the Bank.

In this study, PT. Bukitmega Masabadi, which is a trade partner of GCM, Indonesia, sent an electronic L/C via Bangkok Bank’s Indonesia branch to Bangkok Bank Thailand, to request export products as agreed in the L/C, effectively launching a new era for international trade services using Enterprise Blockchain. The Bank will continue to develop more innovative trade services so that customers can have sustainable success in the digital era. This reflects the Bank’s commitment to continually develop its services as a trusted partner and an international trade expert that can support customers’ success in global trade now and in the future.

Narongchai Pisutpunya, President of GC Marketing Solutions Company Limited, said “GCM has collaborated with Bangkok Bank to develop L/C transactions using Enterprise Blockchain between GCM in Thailand and our business partner, PT. Bukitmega Masabadi, in Indonesia. This breakthrough in the use of Distributed Ledger Technology will revolutionize international trade finance transactions through providing trade network integration and sharing trusted information on a single platform.” The traditional L/C process requires manual document validation and visibility and any incorrect information on the L/C needs to be amended which is costly and delays export.

“The Voltron solution provides synchronized data updates across parties, we can verify information before issuing the L/C and any changes can be seen simultaneously. Real-time information sharing on the Blockchain trade network enables GCM to shorten export delivery time for our customers and reduces fraud risk which is beneficial for our business. This service innovation reflects GCM’s mission to deliver business solutions that exceed expectations and support the business success of our clients,” Narongchai said.

Bangkok Bank is the first bank in Thailand to join R3’s Voltron project to develop L/C services using Enterprise Blockchain and it has been a member of the project since the beginning. Bangkok Bank’s international network covering major economies around the globe, especially in Asia and ASEAN, can help link the international trade networks of the participating banks in the Voltron project to cover all major regions of the world, including Asia. This will encourage customers in the import and export business to use Enterprise Blockchain to reach markets around the world.

 

Bangkok Bank Director and Executive Vice President Dr. Thaweelap Rittapirom (3rd from left), Executive Vice Presidents Chonganan Anantasak (left) and Pochanee Kongkalai (2nd from left) welcomed Deputy Minister of Finance Wisudhi Srisuphan (3rd from right), Money Expo and Head Organizer Santi Viriyarungsarit (2nd from right) and Khon Kaen Governor Dr. Somsak Jungtrakoon (right) when they visited the bank’s booth at the event. The bank showcased its ‘Wealth Solution’, a financial advisory service to grow wealth and offered a special promotion from BeSure QR with a beverage for only one baht for a QR Code payment from a leading café in Khon Kaen. Under the concept of ‘Bangkok Bank – Your Digital Life Partner’, the Bank’s booth offered a full range of technology-driven financial products and services to meet the needs of customers from all walks of life and also had a special zone featuring a health check station and e-Donation service from February 8-10, 2019 at the Khonkaen International Convention and Exhibition Center (KICE).

 

Bangkok Bank Senior Executive Vice President Kanit Si, Senior Vice President - Corporate Banking Siriwan Surakomol and Vice President - Corporate Finance Department Suwanna Wongsawatpaisarn, on behalf of the Bank, received awards from The Asset, a leading Asian financial magazine. The Bank received six awards, namely 1) Best Cross-Border Financing (Cambodia) for USD 56 million long-term loan and working capital facilities for Royal Residence Hotels and Resorts Company 2) Best Corporate Bond (Thailand) for Thai Beverage 77 billion baht multi-tranche senior unsecured debentures 3) Best Corporate Bond (LAO PDR) for EDL-Generation Public Company 13.66 billion baht bond offering and 4) Best Bond (LAO PDR) for Ministry of Finance of the Lao People’s Democratic Republic 14 billion baht senior and unsecured debentures 5) Best Follow-on Offering (Thailand) for Digital Telecommunications Infrastructure Fund USD 1.7 billion rights offering and primary placement and 6) Best FIG Bond (Thailand) for Bangkok Bank USD 1.2 billion senior unsecured notes.

Bangkok Bank offers a 9-month fixed deposit with an interest rate of 1.625% per annum. An interest rate of 1.375% and 1.250% per annum is offered for 7-month and 4-month fixed deposits respectively. This offer aims to increase returns to the public, especially consumers, in line with the government’s policy and support the Thai economy to achieve its goal.

Bangkok Bank Director and Executive Vice President Thaweelap Rittapirom disclosed the Bank reviewed fixed deposit interest rates for consumers for a four month term at 1.250% per annum, seven month term at 1.375% per annum and nine month term at 1.625% per annum. Deposits can be made today.

The interest rates offered for these terms are higher than regular fixed deposit terms of three, six and twelve months. This is to increase returns to people, especially consumers, in line with the government’s policy and support the Thai economy to achieve its goal.

 

Dear Customers using Cheque Services,

As at present, cheque fraud cases are quite prevalent in Thailand resulting in losses to customers as well as banks. In order to prevent such risk, cheque users are requested to exercise prudence when issuing cheques by avoiding making any changes/corrections on the cheques. Effective from February 1, 2019 onwards, altered cheques must be deposited at the respective issuing banks only.

Recommendations in Using Cheques

Cheque Payer

1. Exercise carefulness in writing cheque without altering any messages/figures on the cheque in order to prevent fraudulent cheque alterations.
2. Keep cheques in a safe place and notify the bank immediately upon losing any cheques.

Cheque Holder

1. Examine the cheque each time upon receiving it and do not accept any cheques with altered messages/figures.
2. In the case of having accepted a cheque with altered messages/figures, ask the cheque payer to issue a new cheque or cash the cheque only at the issuing bank.
3. Avoid folding cheques or causing any damages to cheques as it would render the cheques ineligible for collection process.
4. Should there be any question regarding returned cheque, please contact issuing bank’s branch.

 

Bangkok Bank Executive Vice Presidents Pornnit Dunnvatanachit, Kukkong Ruckphaopunt and Senior Vice President and Trade Finance Center Manager Kajohnsak Manaviriyakul welcomed R3 members who joined a Voltron project workshop, the first to be held in Thailand. Bangkok Bank is the first and only Thai bank to work with R3 to develop Letters of Credit (L/C) using Distributed Ledger Technology (DLT), or Enterprise Blockchain. L/C is an important financial service in international trade and the Voltron project is supported by leading global banks in trade services, including Bangkok Bank which has an international network covering major global economies. This will help Voltron’s trade services network to reach all major regions in the world.

 

Ahead of Chinese New Year, Bangkok Bank has prepared red ‘Ang Pao’ envelopes depicting auspicious magpies representing good fortune. The envelopes also carry the Chinese character ‘Fu’ representing ‘happiness’ and ‘luck,’ as well as four Chinese words, ‘Gong he xin xi,’ meaning ‘Best Wishes for New Year,’ which Chinese believe will bring good fortune and an auspicious year. Each year Bangkok Bank gives the red envelopes to its customers for them to use when giving blessings to their families and other people at Chinese New Year.

Thailand’s economic growth in 2018 is expected to be 4.1 percent, up from 3.9 percent in 2017. While exports weakened in the second half of the year amid slower world trade and risks from the US trade policies, domestic demand continued to firm up. Private consumption growth was stronger than expected with a boost from auto sales volume, and private investment continued to increase with capacity expansion in sectors such as automotive and petrochemical which serve the growing demand domestically. In terms of digital banking, digital trends provided opportunities to offer financial services through a variety of convenient digital channels while creating more competition. In early 2018, commercial banks announced the exemption of transaction fees via digital channels to meet customers’ changing lifestyle. Going forward, Thailand’s economic growth in 2019 is expected to be moderate given global slowdown, uncertainties over the US trade policies and retaliatory measures of major trading partners. Nevertheless, public policy continuity—including the implementation of infrastructure projects such as the Eastern Economic Corridor (EEC)—will be key to underpinning private sector sentiment and, thus, bolstering private investment. Moreover, there are opportunities from production relocation to Thailand.

Within the context of the current economic environment, Bangkok Bank has continued to maintain its sustainable growth with its prudent approach towards financial management, maintaining liquidity and capital reserves at appropriate level to support future business expansion, and to ensure the Bank’s financial sustainability in the face of future uncertainties.

Bangkok Bank and its subsidiaries reported a net profit attributable to owners of the Bank of 35,330 million baht, an increase of 7.0 percent from 2017. Operating income amounted to 121,401 million baht, an increase of 7.9 percent, driven by an increase of 7.1 percent in net interest income with a net interest margin of 2.40 percent, and an increase of 9.1 percent in non-interest income contributed by increases in gains on tradings and foreign exchange transactions and gains on investments. Despite the exemption of transaction fees via digital channels, net fees and service income were close to the level of the previous year due to good growth in fee income from bancassurance and mutual funds. The ratio of expenses to operating income was 45.4 percent.

At the end of December 2018, the Bank’s loans amounted to 2,083,160 million baht, an increase of 4.0 percent from the end of 2017, driven by loans to large corporates, consumers, and through the Bank’s international network. The ratio of non-performing loan (NPL) to total loans was lower to 3.4 percent, while the ratio of loan loss reserves to NPL was 190.9 percent.

With the inclusion of net profit for the second half of 2018 (July to December), the total capital adequacy ratio, the Common Equity Tier 1 capital adequacy ratio and the Tier 1 capital adequacy ratio of the Bank and its subsidiaries would be approximately 18.7 percent, 17.2 percent and 17.2 percent, respectively. These capital adequacy ratios are above the Bank of Thailand’s minimum capital requirements. Shareholders’ equity attributable to owners of the Bank, as of December 31, 2018, amounted to 412,814 million baht. The book value per share was 216.26 baht.

 

Bangkok Bank Senior Executive Vice President Suteera Sripaibulya (center-right), Executive Vice Presidents Pornnit Dunnvatanachit (2nd from right) and Chutima Kitchamnong (right), together with the bank’s executives received an ISO/IEC 27001:2013 certificate from Certification Manager Prawaltong Tongyai Na Ayudhaya, Bureau Veritas Certification (Thailand) (6th from left). The certificate covers Imaged Cheque Member Gateway: ICMG, Imaged Cheque Clearing and Archive System – ICAS, BAHTNET – Bank of Thailand Automated High-value Transfer Network. This is in line with the Bank of Thailand’s policy to enhance the security standards of online financial services for the Banks’ customers.

 

Bangkok Bank is organizing the ‘Anyone Can Save’ campaign to encourage children and parents to save and get into the savings habit for future financial stability. Customers who open a Sinmathaya Subthawee or Sinmathaya Subthawee-Bualuang Kids account get a higher interest rate than a regular fixed deposit account as well as tax-free interest benefits once the full deposit term is complete*. Customers who open and make an initial deposit of at least 1,000 baht into a Sinmathaya Subthawee account or 500 baht into a Sinmathaya Subthawee-Bualuang Kids account will get a ‘Blink Blink writing kit’. The ‘Blink Blink writing kit’ is available for customers opening an account between today until February 28, 2019, or while stocks last at Bangkok Bank’s branches nationwide. For more information, please call Bualuang Phone 1333.

*The Bank’s conditions apply.

 

Bangkok Bank Executive Vice Presidents Pochanee Kongkalai gave BE HAPPY notebooks and Blink Blink writing kit to schools, communities and government agencies that will organize activities for children on Children’s Day 2018. The notebooks will be distributed through Bangkok Bank branches nationwide. Every year the Bank holds a similar activity to celebrate Children’s Day.

 

Bangkok Bank is continually enhancing its digital banking services to move towards a cashless society and the Bank recently launched QR Code payments for BTS Pass purchases using Bualuang mBanking. Customers who buy via the QR Code will receive cash back of 5 baht per trip (up to 10 cash back credits/person/month). The offer is available from today until March 31, 2019. This payment serves the needs of customers who want to make financial transactions conveniently and safely via digital channels.

*The Bank’s conditions apply.