Best private bank in Thailand

A focus on exclusivity and improving client service has helped Thailand’s Kasikornbank Private Banking to increase assets under management and build on its client base, outstripping the national growth of high net worth individuals (HNWIs) in the country. “Most of the growth in the numbers of our clients is due to our clients’ recommendations,” says Jirawat Supornpaibul, private banking group head of Kasikornbank. “We improve our services based on a range of insights including global economic trends and input from clients. Introducing products that are based on clients’ needs attracts the attention of other HNWIs.” An example is the bank’s Land Loan for Investment product, which enables clients with assets of more than Bt50m ($1.5m) to request loans for investment using land as a collateral asset. “New clients started investing with us just to use the service.” During the past few years, the bank has also focused on sustainability and sharing. “The concept of sustainability is part of every activity from investment products, advisories, marketing events, gifts etc. We attempt to inspire clients and drive sustainability throughout society,” says Mr Supornpaibul. With personal contact a crucial factor in its success, the onset of the Covid-19 pandemic was a challenge. “The pandemic significantly changed the way we service our clients. With limitations on personal contact, we have encouraged our private bankers to increase the frequency of contact with clients via digital channels,” says Mr Supornpaibul. These calls not only focused on updating clients about their investments, but also included conversations about their health and welfare and their concerns during the pandemic. “The digital channels are used to support the service of our private bankers, but will never replace personal contact. We aim to balance the two,” he adds. HM