BANGKOK, 11 June 2019 (NNT) - Business expansion of Thai companies into other countries is being promoted to reduce the effects of trade wars. CIMB Thai is set to offer a total of 100 billion baht in loans for Thai businesses to expand their operations across ASEAN as part of the bank’s ASEAN Platform campaign.
CIMB Thai’s Senior Executive Vice President of Corporate, Investment and Wholesale Banking, Pornchai Padmindra, said the corporate sector now gives high priority to the expansion of businesses in other countries, especially during the ongoing trade war between the US and China, leading to more Thai businesses seeking to expand their operations across the ASEAN region.
He said the bank’s ASEAN Platform campaign over the past 5 years has helped clients expand their businesses in Malaysia, Indonesia, Singapore, Vietnam and Cambodia. This has resulted in the bank’s overall credit portfolio to corporate clients reaching 70 billion baht.
CIMB Thai is aiming to provide more loans and other financial products, with a value of 100 billion baht over the next 2-3 years, to Thai companies to expand their markets, serving the clients with the bank’s expertise in financial support, trade finance, business mergers and financial risk management.