TISCO-SCBT Announce Successful Completion of Retail Banking Business Transfer

Stocks and Financial Services Press Releases Monday October 2, 2017 13:21
Bangkok--2 Oct--TISCO Financial Group

TISCO Group and Standard Chartered Bank (Thai) Pcl today announced the successful completion of the transfer of Retail Banking business. With this business transfer, SCBT's Retail Banking business, including personal loans, business loans, mortgage loans, wealth management, bancassurance, retail deposits and credit cards are now under TISCO's management.

Suthas Ruangmanamongkol TISCO Group CEO said "TISCO and SCBT project team had worked closely together for more than 10 months. We had gone through details and processes to ensure seamless service to clients after the business transfer, and we are pleased it successfully completed today. We would like to thank clients for their support and understanding of any inconvenience during the past several months. TISCO is ready and committed to serving our retail banking clients to fulfill their financial needs. Moving forward with the open architecture platform together with our expertise in wealth advisory service, our clients can enjoy benefits from TISCO's as well as other quality products in the market at one stop. Another distinctive new product that we can offer is "Mortgage Saver", which provides flexible liquidity and saving interest burden".

Plakorn Wanglee, President and CEO, Thailand and Representative Offices, Standard Chartered Bank, said, "Standard Chartered Bank remains committed to Thailand where we have been operating since 1894 and which remains a core part of the Bank's regional strategy. Utilising our core strengths, namely our deep knowledge of our clients in Thailand, uniquely diversified and extensive network covering 69 countries including all 10 ASEAN markets, and our full corporate services, we are well placed to support our corporate clients' growth in Thailand and expansion overseas."

For more information on TISCO's product and service offerings, please visit www.tisco.co.th or call 02 633 6000. SCBT's corporate clients will continue to have access to the Bank's full suite of products and services. SCBT's commercial, corporate and institutional clients will continue to have access to the Bank's full suite of products and services. The SCBT Head Office and a branch servicing corporate clients remain at the Sathorn Road location. For more information please visit www.sc.com/th or call 1553.

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