Thursday, 20 June 2024

Best Foreign Retail Bank is UOB Thailand

5 min read

By The Asian Banker

The winning bank demonstrated the strongest commitment of any foreign bank in building its retail banking franchise in Thailand. The bank posted a well balanced retail asset book and increased its proportion of retail CASA deposits significantly in the last years. It posted double-digit growth in loans, and interbank and money market related fees. The bank also introduced its digital-only banking arm which integrated AI-driven insights and personalised rewards. It posted strong user adoption, with more than 70% growth in new to bank customers. The bank also acquired the consumer banking franchise of Citi Group, aiming to double its size in the next years.

For demonstrating a long-term profitable franchise with customers as its core proposition, the Best Foreign Retail Bank in Thailand is awarded to UOB Thailand.

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