The Royal Bank of Scotland (RBS) in Thailand will focus on offshore banking using its parent's strong global network to expand its business here.
Charly Madan, the country executive of RBS's Bangkok branch, said it will concentrate on three core financial services _ debt and capital markets, transaction banking, and financial advice.
In particular, offshore areas of the three financial segments will support RBS's business expansion under the strong global networks of its parent company.
RBS, based in Edinburgh, has networks in 38 countries around the world including 11 in Asia-Pacific.
Mr Madan said this will help to support financial mobilisation of RBS customers in offshore markets.
In Thailand, RBS provides financial services to both large foreign and local corporations, multinational firms and financial institutions, he said.
"With strong growth by Asian economies and stronger balance sheets, large Thai companies have greater opportunities to expand and invest abroad. Hence, there is more demand among customers to raise funds in overseas markets," said Mr Madan.
RBS forecasts Thailand's gross domestic product will grow between 4.7% and 5% this year, said Mr Madan, who was appointed as the Thai unit's top executive last month.
Separately, Augusto King, the head of Asian capital markets, said the Thai and other Asian debt and capital markets have developed significantly since the 1997 financial crisis.
Thai corporations issued US$5 billion worth of bonds last year, a significant rise from between $1 billion and $1.5 billion annually in recent years.
This year, demand for US-dollar bonds offered by Thai corporations is expected to be stronger, given international business expansion, said Mr Madan.
About the author
- Writer: Somruedi Banchongduang
Position: Business Reporter