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Bangkok Bank wins Money & Banking “Bank of the Year 2020” award for the fourteenth time
Bangkok Bank wins Money & Banking “Bank of the Year 2020” award for the fourteenth time
Bangkok Bank has been awarded “Bank of the Year 2020” by Money & Banking magazine for its outstanding performance and profitable growth. This is the fourteenth time the Bank has won the award since it was established in 1985. The Bank’s net profit in 2019 was the third highest among Thai commercial banks at 35.8 billion baht, up 1.4% from the year before, representing the highest net profit of 18.76 baht per share and the highest book value of 225.36 baht. In addition to its high profitability, Bangkok Bank was recognized for its prudent and steady approach in allocating reserves for doubtful accounts. The Bank’s allowance of doubtful accounts was the highest level at 8.14% and Tier 1 capital adequacy ratio (BIS) was 17.01%, the third highest level among Thai commercial banks.
In 2020, the Bank will continue to support its customers to cope with challenges so they can grow sustainably. The Bank will focus on providing innovative products and services, developing modern technology and increasing the capability of its personnel, as well as maximizing its network of partners to meet the changing needs of customers. One of the Bank’s most important milestones in 2020 is the acquisition of Permata Bank, Indonesia’s twelfth-largest bank by assets with more than 300 branches in 62 cities across the fast-growing economy of Indonesia.
In 2020, the Bank will continue to support its customers to cope with challenges so they can grow sustainably. The Bank will focus on providing innovative products and services, developing modern technology and increasing the capability of its personnel, as well as maximizing its network of partners to meet the changing needs of customers. One of the Bank’s most important milestones in 2020 is the acquisition of Permata Bank, Indonesia’s twelfth-largest bank by assets with more than 300 branches in 62 cities across the fast-growing economy of Indonesia.
bangkokbank:assets/news/news-category/2020
April 10, 2020
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