StanChart seeks double-digit growth
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Despite the global uncertainties, Standard Chartered Bank (Thai) has set an ambitious goal to achieve double-digit growth in income this year through creative solutions for customers and its global network for corporate and individual investment.
“2012 is a difficult year. It’s also a year of recovery and rehabilitation after the floods. We see uncertainty as opportunities. We can help our customers to do their best amid uncertainties world-wide,” Lyn Kok, president and CEO of Standard Chartered Bank (Thai), said yesterday.
StanChart’s strength comes from two focuses – consumer banking with more creative solutions, and wholesale baking, she said.
Promoting different kinds of channels “is something we are working on to differentiate ourselves such as e-Savers, Internet banking and mobile banking. We want to be more creative for customers. Some people are not going to branches anymore. People need fast services,” she said. StanChart has 27 branches nationwide.
A service guarantee, which informs borrowers of loan results within 48 hours, will be used to compete.
Launches are planned for the bank’s lending products including SME banking by next quarter.
For wholesale banking, StanChart can assist both companies and individuals to invest outside Thailand and in the country. StanChart gains a cross-border advantage over other local banks through its global network of over 75 countries.
“Future wholesale banking is bright with Asean’s 2015 integration,” she said.
The bank can offer know-how, a global network and local knowledge. Standard Chartered Bank Group is present in nine of the 10 Asean countries.
The bank’s priority banking unit will soon unveil a Wealth Management Clinic, which provides customers knowledge about financial and wealth management.
“This is in line with our customer-focused strategy,” she said. In 2011, Standard Chartered Bank (Thai) recorded its highest consolidated profit ever with a 27-per-cent rise
to Bt4 billion despite the fourth-quarter economic contraction after the devastating floods.
Both consumer and wholesale banking posted new highs in profit growth at 23 per cent and 10 per cent in 2011. These two major drivers made an equal contribution to StanChart’s income.
Total assets and liabilities both expanded 12 per cent.
