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UOB (Thai) Opens Second Business Banking Centre to Support Increasing Cross-Border Trade in Thailand’s Northern Region United Overseas Bank (Thai) has opened its second Business Banking Centre in Chiang Mai Province to support growing cross-border trade flows and tourism in the Northern region of Thailand. The new Business Banking Centre was set-up to provide a full suite of banking services to small and medium-sized enterprises ranging from working capital loans, cash management, trade financing to deposit services. It is situated in UOB (Thai)’s Thanon Taphae Branch which is strategically located along Wichayanon Road – the belt connecting key business and trade zones. Sayumrat Maranate, UOB (Thai)’s Head of Business Banking, said that the new Business Banking Centre reflects the Bank’s support for SME customers who want to seize opportunities arising from increasing intra-regional trade in ASEAN. “Over the last few years, UOB (Thai) has been focusing on expanding its Business Banking network in major cities outside Bangkok. In Northern Thailand, the volume of cross-border trade in the region has also nearly doubled during the last five years in line with growing trade among Thailand, Myanmar, Laos and China’s Southern Provinces.[1] The Thanon Taphae branch and the new Business Banking Centre are situated in a vibrant business area where many SMEs from the tourism, agriculture and real estate sectors are thriving,” Ms Sayumrat said. UOB has 26 SME Business Banking Centres across Thailand, 14 of which are located in provincial areas where growing cross-border trade has fuelled economic growth. These include two centres each in Chiang Mai, Phuket and Chonburi; and one in each of the following provinces of Nakhonprathom, Nakhon Sawan, Rayong, Khon Kaen, Udon Thani, Ubon Ratchathani, Songkhla and Suratthani. The UOB (Thai) Thanon Taphae Branch is housed in a one-hundred-year-old building that once belonged to a leading businessman in Chiang Mai. Its façade and structure is a blend of Chinese and Lanna influences. In 2013, this building received the Architectural Conservation Award from the Association of Siamese Architects under Royal Patronage. The Bank launched its first Business Banking Centre in Chiang Mai province along the Thanon Highway in 2011.
[1] According to The Bank of Thailand’s data, Foreign Trade in Northern Thailand as at 3 November 2015, shows that the volume of international trade in Thailand's northern region totaled US$6.98 billion in 2014 compared to US$3.57 billion in 2009.
26 November 2015 |
