Siam Commercial Bank clinches three top SME Banking Awards from prominent global institutions
Siam Commercial Bank proudly received three prestigious awards in 2023 for its outstanding support of the SME ecosystem and its innovative use of digital technology to boost the competitiveness of Thai SMEs. These awards include the Best SME Bank in Thailand 2023 from Alpha Southeast Asia, Best SME Bank - Thailand 2023 from the Global Economics Awards 2023, and Best SME Bank Thailand 2023 from Global Business Review Magazine. Mr. Kris Chantanotoke, SCB CEO, and Mrs. Pikun Srimahunt, SCB Senior Executive Vice President and Chief SME Banking Officer, announced this exceptional achievement.
Mr. Kris Chantanotoke, CEO of Siam Commercial Bank noted that “SME entrepreneurs have played a pivotal role in driving long-term economic growth in Thailand. However, the increasing challenges posed by evolving economic landscapes, changing consumer behaviors, and rapid advancements in technology have introduced considerable stress for SME entrepreneurs. In response to these challenges, Siam Commercial Bank has adopted a holistic approach, treating risk management and wealth management for both businesses and entrepreneurs as intertwined objectives. The Bank's strategy involves harnessing digital tools in conjunction with the insights and expertise of its customer-centric teams to help Thai SMEs adapt to the ever-shifting social and economic context. The Best SME Banking awards received in 2023 serve as a testament to Siam Commercial Bank's principles and underscore the unwavering commitment and dedication of the SCB SME team to support customers and partners in achieving sustainable growth.”
Mrs. Pikun Srimahunt, Senior Executive Vice President and Chief SME Banking Officer of Siam Commercial Bank, revealed that “The Bank is honored for the recognition bestowed by expert panels from three esteemed institutions. To foster a comprehensive ecosystem for SME customers and their business partners, SCB has implemented five core activities, comprising: 1) Financial Support Mentoring: SCB has transformed relationship managers into financial advisors who provide support across the entire business supply chain, fostering mutual growth; 2) Financial Tools: Leveraging digital technology, the Bank has developed a cash management system to assist customers in managing their finances efficiently; 3) SME Knowledge: The Bank empowers SMEs by enhancing their business knowledge and skills. SCB SME Mentors serve as business advisors at every stage of their entrepreneurial journey, enabling profitability and sustainable growth; 4) Ecosystem and Government Partnership: SCB places great importance on expanding business and government agency networks. This collaborative effort aims to enhance SME efficiency in business processes and broaden sales channels both domestically and internationally; and 5) Sustainable and Risk Management: The Bank conducts courses led by industry experts to equip SMEs with essential knowledge about various risk management guidelines. This knowledge is instrumental in ensuring the sustainable growth of SMEs.”
Furthermore, Mrs. Srimahunt highlighted the bank's commitment to supporting businesses affected by the recent COVID-19 pandemic. Initiatives include debt restructuring and offering soft loans at a minimal interest rate of 2%, enabling customers to continue their operations. Additionally, the Bank actively encourages entrepreneurs to embrace alternative energy through the Green Energy project, thereby promoting sustainable energy practices and reducing operational costs in line with sustainable business practices.