In 2023, Siam Commercial Bank proudly clinched three esteemed awards, recognising its exceptional support for the SME ecosystem and its innovative utilisation of digital technology to enhance the competitiveness of Thai SMEs. These accolades encompassed the titles of "Best SME Bank in Thailand 2023" by Alpha Southeast Asia, "Best SME Bank - Thailand 2023" by the Global Economics Awards 2023, and "Best SME Bank Thailand 2023" by Global Business Review Magazine. This remarkable achievement was announced by Mr. Kris Chantanotoke, CEO of SCB, and Mrs. Pikun Srimahunt, SCB's Senior Executive Vice President and Chief SME Banking Officer.
Mr. Kris Chantanotoke, CEO of Siam Commercial Bank, highlighted the pivotal role played by SME entrepreneurs in propelling Thailand's long-term economic growth. Yet, he acknowledged the mounting challenges stemming from evolving economic landscapes, shifting consumer behaviours, and rapid technological advancements, which have placed significant stress on SME entrepreneurs. To address these challenges comprehensively, Siam Commercial Bank adopted a holistic approach, intertwining risk management and wealth management for businesses and entrepreneurs. The bank's strategy involves harnessing digital tools in synergy with the insights and expertise of its customer-centric teams to assist Thai SMEs in adapting to the ever-evolving social and economic context. The accolades of "Best SME Banking" received in 2023 bear testimony to Siam Commercial Bank's principles and underscore the unwavering commitment and dedication of the SCB SME team to support customers and partners in achieving sustainable growth.
Mrs. Pikun Srimahunt, Senior Executive Vice President and Chief SME Banking Officer of Siam Commercial Bank, elaborated on the bank's multifaceted approach to fostering a comprehensive ecosystem for SME customers and their business partners. This approach comprises five core activities:
Financial Support Mentoring: SCB has transformed its relationship managers into financial advisors, offering support across the entire business supply chain to foster mutual growth.
Financial Tools: Leveraging digital technology, the bank has developed a cash management system to assist customers in efficiently managing their finances.
SME Knowledge: The bank empowers SMEs by enhancing their business knowledge and skills. SCB SME Mentors serve as business advisors at every stage of their entrepreneurial journey, enabling profitability and sustainable growth.
Ecosystem and Government Partnership: SCB places great importance on expanding business and government agency networks. Collaborative efforts aim to enhance SME efficiency in business processes and broaden sales channels, both domestically and internationally.
Sustainable and Risk Management: The bank conducts courses led by industry experts to equip SMEs with essential knowledge about various risk management guidelines, instrumental in ensuring the sustainable growth of SMEs.
Mrs. Srimahunt also highlighted the bank's commitment to supporting businesses affected by the recent COVID-19 pandemic. Initiatives include debt restructuring and offering soft loans at a minimal interest rate of 2%, enabling customers to continue their operations. Additionally, the bank actively encourages entrepreneurs to embrace alternative energy through the Green Energy project, promoting sustainable energy practices and reducing operational costs in line with sustainable business practices.