Siam Commercial Bank
Siam Commercial Bank is often celebrated for driving Thailand’s economic development over the past 100 or so years. These days, however, the bank is getting more attention for leaning rather boldly into the century to come.
The nation’s biggest bank by market value is leaping into blockchain technology and the metaverse craze. A lot of the work is done through one of the bank’s key units: SCB 10X Co oversees investments in technology startups, and has even opened its headquarters in the metaverse.
This is just one example of how SCB’s senior management is balancing the firm’s roots with an uncertain future focused on technology which could upend the bricks-and-mortar banking model. But whichever direction financial markets take, SCB will remain a core institution, something that makes it the winner of Asiamoney’s award for best domestic bank in Thailand in 2022.
Take the pandemic. No bank in Thailand seemed to rival SCB’s support efforts.
Between 2020 and 2021, SCB rolled out an array of relief programmes for customers to ease their financial hardships.