Senior banking executives in Thailand have
revealed that a key theme for the sector in 2011 is to expand the
number of bank branches in the country.
The branch expansion strategy at some of the country’s largest
banks follow the Thai government’s relaxation of banking rules.
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Karen Campbell, executive vice-president and
head of retail product distribution at Bangkok Bank,
told
Banking & Payments Asia that the “time is right” for
the financial institution to expand its branch network in order to
service the needs of the country’s emerging middle-class
segment.
Bangkok Bank is Thailand’s largest bank
by assets and currently has 1,000 branches.
Campbell said the bank is expanding its
network because the emerging middle class segment is likely to grow
for the next 10-15 years in Thailand.
“As long as that middle-class segment emerges,
there will be an expansion of branch services,” said Campbell.
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