International bank Citi is planning to support medium-sized enterprises in Thailand and Asia as they venture into overseas markets, leveraging burgeoning opportunities as the region's economies grow rapidly.
According to Gunjan Kalra, managing director and head of Citi Commercial Bank (CCB) for Asia North, Australia and Asia South, Asia stands out as one of the economies expanding the swiftest, attracting foreign direct investment (FDI) and fostering vibrant trade and investment landscapes.
The robust growth prospects in Asia are poised to bolster the cross-border expansion efforts of regional medium-sized companies, she said.
"Through our specialised business unit CCB, Citi is poised to support the international ambitions of medium-sized enterprises in Asia and Thailand. Under the umbrella of CCB's robust capabilities, the bank offers a comprehensive suite of financial services spanning money and capital markets, facilitating seamless cross-border expansion regionally and globally," said Ms Kalra, who was recently in the country to participate in the Money 20/20 exhibition in Bangkok.
"Through CCB solutions, mid-sized clients can access global banking services that are on par with our large corporate clients, setting Citi apart from its competitors."
She said CCB provides global banking solutions to medium-sized companies that are looking to grow rapidly and expand internationally.
Medium-sized enterprises now undergo a quicker evolution, typically taking 5-10 years to become large multinational corporations, a process that previously took considerably longer, said Ms Kalra.
With Citi's extensive global network, tailored solutions and deep industry expertise, the bank can support businesses across diverse sectors to thrive at various stages of their growth journey, she said.
CCB offers several transactional banking services, including payments, cash management, lending, trade finance and foreign exchange, along with more sophisticated financial solutions such as cross-border structured loans, export financing, and environment, social and governance finance.
With a presence in 95 countries, CCB serves mid-sized enterprises in key industries such as digital technology, consumer retail, healthcare and industrial, said Ms Kalra.
In Thailand, Citi collaborates with government authorities to attract FDI, particularly in targeted sectors such as electric vehicles, electronics, technology and healthcare, positioning the country as a strategic hub for inbound foreign investment, she said.
"Thailand has long been a key destination for FDI and inbound capital. Now it's time to pivot towards outbound expansion," said Ms Kalra, adding the company recently assisted five Taiwanese companies in establishing new greenfield ventures in Thailand.
Early last year, Citi Thailand concluded its first social finance deal with a Thai client. This initiative aims in part to foster customer growth while transitioning towards sustainable finance practices, she said.
Digitalisation stands out as a pivotal factor facilitating the cross-border expansion of medium-sized enterprises, said Ms Kalra.