SCB garners eight prestigious international excellence awards
Siam Commercial Bank is proud to have received eight prestigious awards for its exceptional performance in foreign exchange transactions and hedging services designed for corporate clients. These accolades were bestowed by four major international institutions: The Asset, Alpha Southeast Asia, FX Asia Awards, and the esteemed London Stock Exchange Group (LSEG), and are a testament to the Bank’s overarching Digital Bank with Human Touch strategy.
At the core of this strategy lies the SCB FX Online digital platform, which excels in providing top-tier exchange services. This success is built on a skilled team of financial experts who use their deep understanding of complex global financial markets to assist customers in managing their business and handling risk under various scenarios.
Mr. Patrick Poulier, Head of Financial Markets Function at Siam Commercial Bank, revealed that the realm of international financial transactions encountered substantial challenges over the past year emanating from the world’s major economies, a trend that persisted into the first half of this year. The dynamic was marked by the appreciation of the US dollar due to a shift in investor sentiment following expectations pertaining to the Fed’s rate adjustments. At the same time, the Chinese economy slowed down more than expected, causing the value of the Chinese currency (RMB) to drop. Political uncertainty within the nation has triggered an outflow of capital from both the stock market and the government bond market. Given the complex situation with fluctuating foreign exchange rates, the Bank takes the lead in helping its clients spread their transactions across different currencies, such as the EUR and JPY. In tandem, the Bank has introduced an array of sophisticated FX hedging tools and a comprehensive suite of derivatives. These provisions empower customers to prudently spread their exchange rate risk, amplifying their ability to engage in more seamless business interactions with global partners.
The Bank has continued to develop and enhance its digital FX Online platform, enabling customers to conveniently monitor real-time foreign exchange rates 24/7 and independently hedge their transactions. Another crucial aspect aiding customers in prudent risk diversification is a specialized risk management advisory team which excels at assessing market conditions and recommending appropriate products. These efforts align seamlessly with the Bank’s overarching “Digital Bank with Human Touch” strategy, meticulously catering to customer needs.
Through a blend of technological prowess and an adept team of experts, the Bank has garnered eight prestigious awards for its foreign exchange transaction and hedging services for corporate clients. These accolades were bestowed by four prominent global institutions, including:
Best Service Provider – Risk Management (Thailand) 2023 award from The Asset, recognizing exceptional risk management services.
Best FX Bank in Structured Hedging Solutions and Proprietary Trading Ideas from Alpha Southeast Asia, a nod to SCB’s innovative FX Online platform.
Best Corporate Treasury Sales and Structuring Team from Alpha Southeast Asia, underscoring excellence in foreign exchange and bond trading.
FX House of the Year Thailand award from FX Asia Awards, honoring SCB’s excellence as a provider of foreign exchange services.
Runner-up position for the Best THB Interest Rates Swap Contributor by the London Stock Exchange Group (LSEG), highlighting outstanding performance in THB Interest Rates Swap contribution.
Runner-up position for USDTHB Local Cross Currency Contributor from the London Stock Exchange Group (LSEG), commending the contribution to USD/THB cross-currency endeavors.
Runner-up position for the Best Bank FXall Maker Award from theLondon Stock Exchange Group (LSEG)
Runner-up position for the Best Bank FXall Taker Award from the London Stock Exchange Group (LSEG)
