By THE NATION
The bank is also targeting bank assurance business and aims to |generate first-year premium growth of 15 per cent to Bt1.4 billion this year.
Last year its bank assurance business amounted to Bt1.2 billion, which represented a 15 per cent increase from 2015, said CIMBT’s senior executive vice president in charge of consumer sales and distribution, Adisorn Sermchaiwong.
In the first quarter of this year, the bank advised on the issuance of debentures worth Bt10 billion, and it expects the remaining Bt20 billion of its target will be issued before the end of this year, Adisorn said.
He added that companies’ interest in issuing debentures has increased due to expectations of rising interest rates. Debenture issues will help companies to manage their costs, Adisorn said.
The bank would also streng-|then its focus on financial advisory services for companies wanting |to make initial public offerings on |the Stock Exchange of Thailand, he said. The bank had helped bring |TPI Polene Power Plc to the stock market early this month.
“We are the financial advisor for a number of companies who are interested in raising capital on the Stock Exchange of Thailand this year,” Adisorn said.
He said that the bank also planned to issue mutual funds worth up to Bt40 billion this year, up 15 per cent from last year. This will serve the demand from investors seeking to increase their exposure to mutual funds.
In line with the bank’s ambitions to boost its financial advisory business, it is aiming for fee income to rise 15 per cent to Bt600 million this year, from Bt400 million last year, he said.