Bangkok, 31 May 2010: TMB Bank targets to be a leader in international trade by helping exporters in cost reduction, financial support to enhance the liquidity for importer and exporter, and increase management effectiveness by differentiation over the competitor with new solution can help reduce cost and increase liquidity, TMB expected to gain 2.3% share from 14,000 target companies.
Mr. Piti Tantakasem - Chief Wholesale Banking said that TMB realized of the importance of international trade which the research shows that International trade grows up every year which Export was 70% of national GDP increasing by 40% from Q1 this year. Because of the importance of export section contributed to Thai Business, TMB see the importance of being partner to increase business capacity and able to compete in global markets.
Mr. Piti said that TMB dedicated investments are developing the infrastructure and technology to support business in order to issuing in-dept understanding of every single export process and every problems of operation which customers have faced in international trade.
TMB found that big problems for customers are high cost and lack of liquidity. With this in-dept understanding, TMB has new solution “Tier Export Financing Service” which cut interest rate after shipment. Unlike other leading banks, the interest rate is the same in both pre-shipment and post-shipment. TMB understands that post-shipment risk is lower because the product is already produced and in shipment process. TMB decided to cut interest rate after shipment to make lower cost to customers.
Another essential part of doing business is Account Receivable management. TMB also launched new solution “Discount without Recourse” that cut Account Receivable Outstanding off balance sheet and increase cash flow.
The 2 services above will provide both in L/C and Open Account. L/C will be launched in this quarter and Open Account will be in the middle of the year which most of exporter use.
Mr. Piti said TMB expected to solve these problems which can gain market share in international trade 2.30%, value 500,000 Million Baht from Agriculture industry 15.56%, Rubber 13.88%, Frozen Food 8.56% and other 13.64%. Expected customer are 24,200 companies which TMB has collaboration with other bank network more than 6,000 locations in order to service customers in everywhere of the world
In additional, TMB also offers the Knowledge Sharing Program consisting of interesting seminar to educate the importer and exporter, and monthly publication which has the dept information of international trade benefit to entrepreneur. The content includes Research, Case Study, and Solution which can help customer in getting the information in order to help in making business decision. Persons who interest in this program can apply at firstname.lastname@example.org by sending Name, Phone, Email, and Company name. TMB will contact back and send the monthly information every month.
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