Payong Srivanich, CEO and President of Krungthai Bank, said that as a leading commercial bank in Thailand, Krungthai Bank is at the forefront of investment innovation, empowering Thai people to generate returns in all market conditions. The bank has designed and developed a range of investment products and offers them through its easily accessible digital channels, Paotang and Krungthai NEXT mobile applications. The bank will continue to leverage innovations and technologies to enhance its asset management services and provide WealthTech solutions, with the goal of expanding its wealth client base by 100% within the next 3 years. Currently, the bank has over 200,000 wealth clients with assets under management exceeding 2 million baht.
To better address client needs and provide them with best-in-class financial solutions, the bank has partnered with Fidelity International, a global investment manager with a 50-year heritage that operates in more than 25 locations and manages investments of over $728 billion on behalf of its clients. Through this partnership, the bank will be able to enhance all aspects of its investment services, including advisory, fund development, and market commentary, with the help of Fidelity's expert teams. Together, they will create a distinctive and superior investor experience for the bank's clients.
This partnership combines the strengths of the two leading organisations and veterans in the finance industry. Krungthai Bank has deep local insights and a large client base of over 40 million customers from all over the country. On the other hand, Fidelity has global investment expertise and teams of analysts specializing in managing investments across asset classes, including equity, debt, multi-asset instruments, and real estate. Fidelity's analysts will also analyse investment trends in major global markets and share real-time research with Krungthai Bank's investment specialists to help the clients make accurate investment decisions and steadily achieve their financial goals in a sustainable manner.
Krungthai Bank, Fidelity, and Krungthai Asset Management PCL (KTAM) will collaborate to launch three new portfolios with varying risk levels which will be exclusively offered to Krungthai Bank's clients. These portfolios will leverage capabilities in accurate investment decision-making, including asset allocation, risk management, and evaluation of investment directions that can adapt to changes and all market conditions.
Rajeev Mittal, Managing Director, Asia Pacific ex-Japan at Fidelity International, said that Southeast Asia is a priority focus for Fidelity, and it has been serving clients in the region for more than 20 years. This strategic partnership allows Fidelity to bring decades of investment management experience to one of the fastest-growing economies in the region. By combining Fidelity's global investment expertise with Krungthai Bank's extensive network and deep local insight into the Thai market, it looks forward to delivering an enhanced range of services and solutions to Krungthai Bank.
Under the collaboration, Fidelity will provide Krungthai Bank with support in various areas for the benefit of Thai investors. The support includes delivering investment products and providing views on asset allocation, performance, and fund recommendations; sharing insights and market commentary on the latest macro-economic views; and developing education and training on various topics in investment and portfolio management.
Source: Krungthai Bank