Siam Commercial Bank (SCB) is increasing access to international wealth products for Thai investors, aiming to expand assets under management (AUM) in foreign currencies to 180 billion baht by 2026.
Under its wealth management division, SCB Wealth, the bank collaborates with subsidiaries of parent SCB X and global partners to drive business growth.
According to chief executive Kris Chantanotoke, the bank offers a diverse range of global asset classes to facilitate Thai investors entering international markets.
SCB's plan to expand its AUM in foreign currencies to 180 billion baht by 2026 aligns with projections that Thai wealth will grow to roughly US$1 trillion in the interim.
The bank declined to disclose its current AUM and the total wealth of its Thai investors.
According to Mr Kris, SCB X's subsidiaries and the bank's global partners supporting this business segment comprise SCB Asset Management, Innovest X, SCB Economic Intelligence Center, SCB Julius Baer, and its latest partner BlackRock.
SCB Wealth serves three market segments: SCB Private, SCB First and SCB Prime.
SCB Wealth offers a comprehensive suite of investment products and services, including deposits, lending, investments, estate planning, protection and tax planning.
In addition to its existing wealth clients, the bank extends its services to "mass affluent" clients interested in portfolio investments, granting them access to global asset classes.
Investment access is tailored to client needs, with options available through relationship managers or digital platforms.
SCB wants to double AUM under its customer-centric investment theme by 2026 from 70 billion baht at present.
The bank also plans to double the proportion of active wealth management clients investing through its digital platform, increasing their share to 30% of the total customer portfolio.
"We aim to position SCB Wealth as the industry leader in terms of assets under advisory," said Mr Kris.
SCB Wealth also introduced a unique investment model called "No Gain, No Pay" for select investment themes. Under this approach, if clients fail to achieve their targeted returns, the bank will waive the investment fees.
