Loving a challenge, KBANK staffer embraces career in China
Working overseas was not part of his dream career path when Somboon Wanichavasin joined Kasikornbank nearly 30 years ago. But in the past decade, after taking the bank's sponsored courses in Mandarin, he has spent most of his time in China, turning himsel
Starting off as a branch staff member after graduation, Somboon spent the first 18 years dealing with the Bank of Thailand, and cheque and lending activities. A turning point came when the bank was re-engineered after the 1997 financial crisis. Reshuffles were the norm then. Coupled with the bank’s strategy to refocus on the Chinese market, some staff members were selected to study Mandarin.
The first overseas assignment arrived in 2003, when he was appointed chief of the representative office in Kunming. Three years after that, he returned to Bangkok. In 2009, he was dispatched to Shenzhen to oversee the bank’s first branch in China. There, he worked closely with China Minsheng Banking Corporation (CMBC), a Chinese partner that was seeking the best practices in lending to small and medium-sized enterprises.
When deciding to take the Mandarin course, “I didn’t think about working in China. I just wanted to learn a new language,” he said in an interview. The bank also had scholarships for English courses in the United States, but Somboon opted for Mandarin because of poor experiences with English in his youth.
He was sent to Shanghai together with a few bank staff. They were housed in a dormitory, ready for tutoring. Coming from Thailand where there were only five free-television stations, he was glad that TV in his room had 40 channels. However, all were in Mandarin.
“I told myself that after a year in China, I must understand what they were talking about,” he said.
After a half-day of tutoring, he spent time on TV every day, mostly watching Taiwanese series, the content of which was easy to guess. Stumbling on any unknown word, he would look for the meaning in the dictionary. The Chinese tutor’s help was sought if he could not find the right answer. In a year, he succeeded in listening with fair reading and writing skills.
Knowledge of the language made his first overseas post in Kunming easy. The posting fell to him after the bank spent more than a year finding a suitable volunteer. Then married, Somboon said his wife welcomed the idea, as he could fly home often.
Seeing no difficulty in the new job, which mostly involved credit analysis, Somboon said he researched thoroughly about Kunming. His concern lay in the fact that 70 per cent of the population there were hepatitis B carriers. This required vaccination. Another concern was on the quality of water, which contained high levels of contaminants. Frequent check-ups were necessary.
Being general manager of the Shenzhen branch was not a challenge for him either. With experience as a deputy branch manager in Thailand, he comfortably accommodated himself with the new job.
“The full-year transaction volume at the branch could not match the daily volume at a busy sub-branch in Thailand. On average, we had some two clients a day,” he recalled. The branch’s employees were then told to finish their job early and head home. “If we handle routine operations well, it’s unnecessary to work overtime. We need to strike a work-life balance, as we normally spend eight or nine hours at office.”
There was no challenge either in transferring knowledge to CMBC. Chinese banks were then ordered to provide greater access to funding to SMEs. CMBC sought help from KBank, which had developed a successful risk-management model for SME lending thanks to years in this business.
Lessons from the 1997 financial crisis when KBank’s non-performing loans spiked to more than 40 per cent also taught the bank to be extremely careful. Somboon believed that, because of cultural proximity, the Thai business formula could be well adapted for business in China.
“There was no fear that CMBC would rob us of knowledge. Chinese banks are rich but they lack software – the service mind. The new generation is ready to learn, but those aged over 45 are still adhering to bureaucratic systems,” he said.
Now, taking care of the Chengdu branch, KBank’s second one in China, he is expected to put all effort into generating revenue. His first task is to pass on his knowledge to the team of local staff and inspire them towards excellence.
In the meantime, he anxiously awaits the next posting.
“After a few years here, I will ask for a move. I love to take on challenges. Throughout my career, I have been assigned to be here and there. Maybe then, I could ask for a job that I truly love to do.”
He did not say whether the next station would be in China again.
