Bangkok Bank (BBL) plans to increase its emphasis on providing yuan-based transactions and credit in support of the growing role of the Chinese currency in the global economy.

BBL president Chartsiri Sophonpanich said the bank has provided financial services in yuan for several years, including trade finance for Thai and Chinese importers and exporters.

Demand for yuan-denominated financial services has risen in line with growing trade and investment between Thailand and China.

BBL in 2009 converted its representative office and branches into a locally incorporated, wholly owned bank called Bangkok Bank (China). The bank maintains its head office in Shanghai and has branches in Beijing, Xiamen and Shenzhen.

Mr Chartsiri, speaking at an economic conference hosted by Fitch Ratings yesterday, said the bank is supporting yuan-denominated loans for Thai companies investing in China as well as for local Chinese businesses.

The bank may look to raise additional funds by issuing yuan-denominated bonds to support business growth.

Mr Chartsiri, also the chairman of the Thai Bankers' Association, said the rise of Asian economies will transform the global economic landscape.

Regionalisation, particularly with the creation of the Asean Economic Community (AEC) in 2015, will present greater business opportunities as well as challenges for local banks.

"[Asia's] emerging markets, including Thailand, will be a key destination of global investment and will attract foreign capital flows over the next few years," said Mr Chartsiri. "Local companies, including Bangkok Bank, are also expanding investment in the region."

He said the solid balance sheets and capital bases of Thai banks will help the sector capitalise on the increased business opportunities in the region.