Bangkok Bank, as the leading regional bank and an official communication partner of APEC 2022 Thailand, features a booth at the APEC 2022 summit, hosted by Thailand, under the concept of ‘Creating Value for a Sustainable Future’. The booth showcases the strength of the Thai financial sector and Bangkok Bank, which offers customers numerous trade and investment opportunities through its comprehensive network, regional financial infrastructure and balanced growth by taking into account the businesses of all stakeholders to focus on sustainable growth.
Bangkok Bank Director and Senior Executive Vice President Kobsak Pootrakool said that Thailand was honored to host the Asia-Pacific Economic Cooperation, or APEC 2022, leader meetings during November 14 – 19, 2022 at the Queen Sirikit National Convention Center. The APEC summit will promote Asia-Pacific economic cooperation and free trade and investment as well as other business dimensions to create inclusive, sustainable, prosperous economic growth for people in the region. Bangkok Bank, as the leading regional bank, features a booth at the event to promote its image of a leading financial institution in the country and region. The booth is presented under the concept of ‘Creating Value for a Sustainable Future’ in line with the Bank’s commitment to be a trusted partner. The Bank prides itself in being more than just a financial service provider as it also offers advice and support for all stakeholders to better operate their businesses responsibly and successfully.
In line with the main theme of APEC 2022 ‘Open. Connect. Balance’, the Bank presents the content of its booth as follows:
- Open to all trade and investment opportunities to promote regional economic integration through new perspectives from the Covid-19 pandemic to build economic opportunities for all social sectors. Bangkok Bank has strong comprehensive financial services with a network of overseas branches in more than 300 locations in 14 economies. In Asean, the Bank has branches in 9 out of 10 countries and can therefore facilitate both inbound and outbound customers and businesses who would like to invest in Asean.
- Connect in all dimensions to restore safe and seamless cross-border travel while increasing digital connectivity. Bangkok Bank has expanded its main business of providing financial services to be a regional provider of cross-border payment. By co-developing the Cross-Border QR Payment service, Thailand and its five neighboring Asean countries comprising Indonesia, Malaysia, Vietnam, Singapore and Cambodia can use their local currency for cross-border payments with convenience and security while reducing the hassle of carrying cash and currency exchange. The initiative helps to connect the infrastructure of the cross-border financial ecosystem to be under the same regional standard. Bangkok Bank is the first bank to provide such service and is the settlement bank for cross-border payments between Thailand and Vietnam and Thailand and Indonesia.
- Balanced growth in all aspects is promoted above profit-making, through responsible business practices that take into account the environment, food and agricultural security for the well-being of people. This is in line with Bangkok Bank’s commitment to sustainable development in three dimensions covering environmental, social and governance (ESG). The Bank has provided green finance for local and regional projects by underwriting green bonds and sustainability-linked bonds. In 2021, the Bank supported companies in Thailand in their fundraising efforts to achieve their sustainability goals as an underwriter for ESG bonds covering green bonds, social bonds and sustainability bonds worth 37.2 billion baht, or two thirds of all ESG bonds issued in the Thai capital market, which was worth a total of 56.7 billion baht. In addition, the Bank is the leader in project finance loans supporting renewable energy projects in Thailand, Vietnam, Indonesia, Laos, China and other countries. Currently, the capacity of renewable energy projects supported by the Bank’s loans accounts for 27% of the total capacity of energy projects financed by the Bank, and is continuing to grow.
The Bank also supports several key sustainable energy projects, such as developing clean energy across Asia, including the production of electric vehicles and their batteries, and the mass transit system. Some customers are in the process of developing smart grid systems. The Bank has given back to Thai society through various social projects such as Bualuang Joins the Community to Solve Drought Project, programs to sustain and promote Thai arts and culture through the Bualuang Painting competition, which is in its 43rd year. In line with ethical business practices, the Bank has established a responsible lending policy and considers ESG risks in the credit review process for both business and personal loans.
In addition to featuring a booth to provide knowledge and promote the image of the Bank, Bangkok Bank plays an important role as a public relations communications partner for APEC 2022 and as a sponsor of the APEC Business Advisory Council 2022 (ABAC 2022) and the APEC CEO Summit 2022. To represent Thai people in welcoming all delegates from APEC with a smile, the Bank has sponsored an 18×200 meter billboard at the departure route from Suvarnabhumi Airport, which acts as the gateway to Bangkok, the venue for the meeting of APEC leaders.
“This is a great opportunity, not just for Thailand to be honored to host the APEC 2022 meetings, but also for Bangkok Bank to represent Thai businesses to welcome delegates from member countries. Most importantly, it is also a platform to proudly showcase the strong potential of the Thai financial sector while reinforcing our status as the leading regional bank that consistently and sustainably works alongside customers and Thai society as a trusted partner going forward,” concluded Mr. Kobsak.