Editorial

Bangkok Bank recognised for delivering comprehensive value proposition to customers as it wins Best Payments and Trade Finance Bank in Thailand at The Asian Banker Transaction Awards 2019

By The Asian Banker

  • Trade finance operations characterised by a long standing and a dominant presence
  • Successfully mandated a long-term financing solution for a client representing the construction sector
  • Digital solutions to complement the ecosystem capabilities for corporate and institutional clients

Bangkok, May 30th, 2019 — Bangkok Bank received the award for Best Payments and Trade Finance Bank in Thailand at The Asian Banker Transaction Awards 2019. The award ceremony was held in conjunction with the prestigious Future of Finance Summit 2019, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, held at the Shangri-La Hotel, Bangkok, Thailand.



In the picture: Mathew Welch and Bill Chua, International Resource Directors and Siddharth Chandani; Researcher; The Asian Banker with Pongbhoka Buddhi-Baedya; VP; Global Payment Services Department, Pipat Assamongkol; EVP; Corporate Cash Management and Trade Services and Kajohnsak Manaviriyakul; SVP; Trade Finance Center, Bangkok Bank.

Trade finance operations characterised by a long standing and a dominant presence

Bangkok Bank’s trade franchise represents a long-standing presence within Southeast Asia and China, representing deeper correspondent banking relationships relative to any of its peers. The bank leverages local expertise, strong regional and international branch network which spans across nine out of ten AEC countries and holistic B2B, technology driven solutions to serve corporate clients across 22 specialist industry sectors, better. The bank stands out as an extensive clearing bank for settlement of cross-border trade in RMB while primarily helping local Thai businesses to go global. It is also the authorised local crosscurrency dealer to promote the use of MYR and IDR, for settlement of trade with Malaysia and Indonesia, respectively. As a trusted advisory partner, its AEC Connect Center provides trade and investment advisory services in preparing clients to better integrate with businesses in the region. Such initiatives on making cash flows more efficient for its customers whilst minimising risks for them has helped the bank deliver better ROE and a gain more than 20% market share based on volumes of L/C outstanding.

Successfully mandated a long-term financing solution for a client representing the construction sector

The bank implemented a complex structured trade credit deal for a major local client, mandated to build a power plant in Vietnam. The client was not only looking to achieve efficiency in the long-term financing process, but also lower risks that stemmed from the ongoing engagement with an overseas Chinese construction company. All in all, multiple parties to the transaction were seeking to lower transaction costs from the deal. Bangkok Bank’s solutioned a Usance Letter or Credit which was issued from domestic jurisdiction (Thailand) to China. It helped all parties to achieve better financing conditions and improved payment terms. Separately, Bangkok Bank maintains its strong position as the largest payments bank from a market share perspective. For instance, it holds the sole authority to process a large money transfer institution’s global transaction into Thai recipient accounts.

Digital solutions to complement the ecosystem capabilities for corporate and institutional clients

The bank leads in forging alliances with the leading financial technology platforms to better serve clients’ evolving needs. It is the only bank in Thai marketplace to be present on R3, a globally-leading distributed ledger technology (DLT) consortium in promoting use of open account transactions and digitalised letters of credit. The bank launched BeSure QR, eliminating the need for customers to carry cash while merchants to receive payments instantly, and also facilitated cross border payments in Thai Baht (THB) and US Dollar via its ASIA Same Day Transfer service. The service benefits customers to receive funds with ‘same-day value’, mitigating volatility of uncertain exchange rates. Leveraging Electronic Bill Presentment and Payment (EBPP), cross-bank bill payments and online invoicing and collection management services, the bank has successfully grown the digital component of cash management and supply chain finance transactions.

The Asian Banker Transaction Awards Programme, refereed by prominent global bankers, IT consultants and academics, is the most prestigious of its kind in Asia Pacific. Recipients of these awards are honoured in a gala event that recognises their efforts in bringing superior products and services to their customers. A stringent and comprehensive evaluation process determines the awardees. For specific details relating to description of the awards, evaluation criteria and process, kindly visit http://www.asianbankerawards.com/transactionawards/index.php.

About The Asian Banker

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The company is headquartered in Singapore, with offices in Manila, Malaysia, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services, and forums.

To view the Business Achievement Awards 2019 gallery, please visit https://bit.ly/2WcifTO.
For further information on the collaterals for winning banks, please contact:

Mr. Alfred Labicassi
The Asian Banker
Email: alabicassi@theasianbanker.com



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