SCB Reducing Branches to 400

BANGKOK, 22nd January 2018 (NNT) – Siam Commercial Bank (SCB) reducing branches to 400 over the next few years, as it shifts to online banking solutions to meet customer demand. 

SCB President & CEO Arthid Nanthawithaya said that banks have been forced to change the way they service clients, amid fierce competition in the commercial banking sector and widespread technology adoption.

In addition, the revenue structure of banks has drastically changed from the 30:70 ratio of fees to interest rates in the past to a new reality where banks can expect less revenue from interest rates as time goes on.

This year, SCB aims to increase banking efficiency, high-yield lending, digital banking, data utilization, and support for small businesses.

Its main sources of revenue will be corporate loans, consumer loans, and wealth management.

Most notably, SCB plans on reducing the number of branches from 1,153 to 400 and employees from 27,000 to 15,000, in order to focus on online banking, technology adoption, and data solutions.

Should you require help with setting up a bank account with SCB, please feel free to Contact Us at Pro Visa Pattaya, we will be only to pleased to assist you.

Source: NNT