UOB wins Best Foreign Retail Bank in Thailand from The Asian Banker
United Overseas Bank (Thai) has won the inaugural Best Foreign Retail Bank in Thailand Award at Excellence in Retail Financial Services Award 2015.
In making its decision, evaluated banks using a combination of interviews and research focused on key indicators including sales performance, business sustainability, risk management practices, financial performance, and service efficiency.
In its citation, said that UOB (Thai) had distinguished itself through its approach of offering customer-focused products and services.
Mr Yuttachai Teyarachakul, Head of Personal Financial Services at UOB (Thai), said the award reflected the Bank’s commitment to helping its customers meet their specific financial goals.
“We are focused on creating and offering wealth management solutions that are matched to our customers’ financial needs throughout the different stages of their lives. This approach forms the foundation to the long-term and deep relationships we nurture with our customers.
“We are also focused on maintaining our robust risk management processes as we recognise the importance of balancing growth with stability in our business expansion,” Mr Teyarachakul said.
Over the past few months, UOB (Thai) has launched several initiatives for its customers. These include:
- In July 2014, introduced the industry’s first one-day home loan approval service which provides greater convenience and certainty to Thai homebuyers.1
- In April 2015, launched a dedicated UOB Wealth Banking Centre catering to the wealth management needs of the rising affluent with assets of more than one million baht.
- In June 2015, issued a new UOB PRIVI Miles credit card created specifically to meet the needs of Thai travellers. UOB PRIVI Miles offers the highest mile conversion rate among travel-specific credit cards in Thailand.
The Bank’s customer-centric approach of doing business has helped it to record a net profit after tax of 2,485 billion baht and a return on assets of 0.62 per cent in 2014.
The Bank also registered strong growth in its home loan and wealth management businesses. Its home loan portfolio grew 20 per cent year-on-year (y-o-y) in 2014 to 102 billion baht and its assets under management grew eight per cent y-o-y in the same period to 182 billion baht.
1Eligible only for those who earn monthly income of at least 20,000 baht and submit completed documents.
7 September 2015
For More information, please contact
Brand Performance & Corporate Communications,
United Overseas Bank (Thai) Pcl.
Parista Yuthamanop Tel. 0-2343-4965