CIMB Thai Bank (CIMBT) recently opened its new flagship branch, offering a full array of services to both local and Asean customers to cash in on the booming number of intra-regional financial transactions.
Chief executive Subhak Siwaraksa said CIMBT had spent more than 20 million baht on the new branch — more than double the cost of regular branch openings at 8-10 million each.
The flagship has 50 staff including 27 relationship managers, while other CIMBT branches usually have only 10 staff.
Services available at the branch range from banking, asset management, securities and wealth management to safety-deposit boxes and Preferred Center services
CIMBT's Preferred Center offers services to affluent clients who have assets under management of at least 1 million baht at the bank.
Apart from local customers, regional clients comprising individuals, SMEs and corporations are among the main targets of this latest branch, Mr Subhak said.
Large local corporations have continued investing in regional markets to tap investment opportunities from the imminent single market of the 10 nations under the Asean Economic Community, scheduled to take shape at the end of next year.
CIMBT, 93.7% owned by Malaysia's CIMB Group, is involved in some joint-venture and takeover deals between Thai-Malaysian and Thai-Singaporean corporate customers.
Such deals are in the service, real estate, and consumption sectors, Mr Subhak said.
CIMBT shares closed last Friday on the Stock Exchange of Thailand at 2.18 baht, unchanged, in trade worth 1.55 million baht.