BEST PRIVATE BANK – THAILAND DOMESTIC
2017 proved to be a particularly exciting year for private banks in Thailand as the country’s push for proof that it is a serious regional wealth management hub continued at full tilt.
Yet few banks in Thailand can claim to match the capabilities and strengths of KASIKORNBANK PCL. (KBank), which continues to demonstrate its services, called KASIKORNBANK Private Banking, as a wealth manager and provider of compelling investment solutions, notching up stellar business performance, asset growth and product offering in 2017.
Of paramount importance is the bank’s strategic partnership with Lombard Odier, a bank of global repute. This partnership has proven a significant contributing factor to the bank’s internationalisation and improvement across many crucial banking disciplines, including investment advisory, wealth planning, internal and external training, effectively raising KASIKORNBANK Private Banking beyond the level of its peers.
Indeed, KBank’s core offering persuaded Asian Private Banker’s Judging Panel that it had gone above and beyond the call of duty in providing asset allocation and diversification services to a rapidly maturing client segment. If proof were needed, Asian Private Banker can point to the fact that nearly 50% of client assets are placed in a diversity of mutual funds, as a result of KBank’s never-ending improvement.
In addition, KBank has continued to explore the development of its family office business, a space in which the bank is an early mover and today heads the field as the first provider of a full family office service offering. This covers “family continuity planning”, “financial asset, liability and risk management”, “asset holding structures”, “inheritance and wealth transfer” and “family office”, all widely recognised by HNWIs and competitors since launch.
In order to offer higher efficiency and genuine value-added productivity to its clients, KASIKORNBANK PCL. is an early adopter of digitalisation in Thailand. The bank developed a consolidated financial statement capability incorporating state-of-the-art technology in addition to a conference connection system that enables its private bankers to further cultivate deeper relationships with its clients, even in areas of rural remoteness.
At the same time, KBank continues to invest in talent, growing its staff of private bankers and supporting teams and providing a sophisticated training programme that has kept its attrition rate well below the industry average.
KASIKORNBANK PCL. is Asian Private Banker’s choice for Best Private Bank – Domestic Thailand.
“Our unremitting creation of comprehensive service solutions has been the key to earning our customers’ trust in KBank Private Banking service, which has upheld market leadership in Thailand for years. We are among the first Thai banks to have launched Open Architecture (OA) service for High Net Worth Individual clientele, allowing boundaryless access to all leading investment products in the market. We leverage our service to be compatible with international standards by developing our partnership with Lombard Odier – one of the world’s leading private banks. The partnership has led to a multitude of service innovations in Thailand including Family Wealth Planning Service – Thailand’s first comprehensive wealth planning service for family wealth, business and its continuity. We pioneer development of mutual funds, our K-SGM and K-GREAT funds, are the first mutual funds in Thailand managed according to risk-based asset allocation principles. Of great importance are our exclusive training courses in Geneva, the headquarter of Lombard Odier, for our Private Bankers and support teams aimed at elevating our services to international standards.”