Since establishing its presence in Thailand in 1999 through the acquisition of Radanasin Bank, and later the Bank of Asia, UOB Thailand has grown to become the second-largest foreign-owned bank in the country. The acquisition of Citi’s consumer banking businesses in Thailand and three other ASEAN countries—Indonesia, Malaysia, and Vietnam—reinforces the bank’s strategy to scale up its franchise across the region.

“Our commitment to Thailand is rooted in our history here. Over 25 years, we have focused on creating value for our customers, partners, and communities, while helping Thailand seize opportunities within the rising ASEAN economy,” said Richard Maloney, President and Chief Executive Officer of UOB Thailand.

The bank’s regional footprint provides a significant advantage as ASEAN’s economy continues to expand. With foreign direct investment (FDI) into the region reaching a record US$230 billion in 2023, UOB’s extensive network, seamless cross-border solutions, and Foreign Direct Investment Advisory (FDIA) units help Thai businesses access new markets with confidence and ease.

“Many Thai businesses are eager to explore opportunities beyond Thailand, yet face challenges in navigating new markets,” said Vira-anong Chiranakhorn Phutrakul, Deputy CEO and Country Function Head of Wholesale Banking at UOB Thailand. “Our FDIA units help companies overcome these challenges, leveraging the bank’s regional expertise and extensive network to make cross-border growth more accessible and efficient.”

One such success story is DHA Siamwalla (DHAS), a century-old Thai family business and leading manufacturer of stationery brands including Elephant, Quantum, and Cross. To support its regional expansion, DHAS partnered with UOB Thailand to develop a fully automated logistics hub that services major operators, e-commerce platforms, and SMEs. UOB Thailand provided comprehensive support, from advice on setting up regional cash pooling to customised financial solutions, enabling DHAS to grow its exports to over 80 countries. DHAS exemplifies the ambitions of Thai businesses to expand internationally.

Suharit Siamwalla, DHAS’s Managing Director noted: “UOB Thailand has been a trusted partner for years, providing support that meets the needs of the business at every stage of its growth.”