In the quarter, the bank generated pre-provision operating profit (PPOP) of Bt4.72 billion, up 25 per cent quarter on quarter, driven by continued growth in net interest income (NII) and higher non-interest income (Non-NII), as well as well-delivered operating efficiency. TMB monitored its asset quality closely and continued to improve the quality of its loan portfolio with the bank setting aside Bt2.49 billion of provision for the second quarter.

Piti said in terms of balance sheet growth, the bank focused on expanding its deposit base through retail customer segment. The bank has grown new loans selectively and also continued to de-risk its current loan portfolio to improve quality, aimed at strengthening its financial position in support of potential merger transactions.

Robust growth in retail deposit was reported for first six months of this year, expanding by Bt3.4 billion or up 0.8 per cent from the first half of 2018, led by flagship products such as transactional deposit – TMB All Free, non-transactional deposit – TMB No Fixed and a digital saving, ME Save by TMB which grew +3.3 per cent, +1.7 per cent and +4.8 per cent YTD.

Nonetheless, due to an Bt4.2 billion outflow from commercial deposit , total deposit dropped to Bt649 billion, compared to Bt650 billion at the end of last year.

In regard to lending, total loan outstanding at the end of the second quarter sat at Bt680 billion, down from Bt686 billion at the end of last year, mainly due to loan repayments from large commercial customers in conjunction with the result of de-risking activities, especially in the medium- sized SME segment.

Retail loan portfolio, on the other hand, grew from the previous quarter, boosted by mortgage lending.

For the first six months, the bank saw a 6.4 per cent growth in retail loans and a 7.7 per cent rise in mortgage. In addition, the new booking of small SMEs remained on a gradual recovery as the bank remained selective in approving new loans.

The bank posted growth in total revenue, showing Net Interest Income (NII) of Bt6.34 billion, a 1.7 per cent increase from the first quarter while NIM stood at 2.90 per cent, compared to 2.89 per cent in the first quarter of this year. Non-interest income was Bt2.54 billion, up 11.8 per cent as fee income started to recover, especially in mutual funds.

Total operating income came to Bt8.89 billion, up 4.4 per cent quarter on quarter. Meanwhile, total operating expenses was Bt4.21 billion, down 11.1 per cent from the first quarter in which there was a one-time set-up of employee retirement benefit according to the revision of the Thai Labor Protection Act.

Thanks to higher revenue and lower operating expenses, pre-provision operating profit (PPOP) increased to Bt4.72 billion or 24.5 per cent. After the Bt2.49 billion provision and tax, net profit stood at Bt1.91 billion or an increase of 21.4 per cent.

In terms of asset quality, the bank reported a NPL ratio of 2.74 per cent, down from 2.81 per cent in the previous quarter while NPL coverage ratio, which reflects loan-loss absorption ability, stayed at 140 per cent.

In the quarter, the bank maintained its 2019 asset quality targets with NPL ratio of less than 2.9 per cent and NPL coverage ratio of above 140 per cent.

The firm is inviting users to experience e-wallet security technology, which the company has co-developed with Zoloz, the world’s leading biometrics-based real identity verification and authentication technology provider. With Zoloz technology, TrueMoney has set a new benchmark for e-wallet security and allowed a more secure and easily accessible digital security experience for all, the company said.

TrueMoney is one of Thailand’s e-wallet providers which joined the Bank of Thailand’s (BoT) regulatory sandbox project to deploy biometric facial recognition technology for e-KYC to verify user’s identity since March.

Biometric facial recognition is one of the five crucial technologies being implemented under BoT’s regulatory sandbox. The company said its biometric facial e-KYC will offer more convenience and reduce complexity in identity verification and authentication processes, eliminating the problem of forgetting passwords as well as mitigating risk and fraud from grey business and money laundering. Furthermore, TrueMoney’s new e-KYC technology has set a high-level security-standard benchmark for the country’s e-financial industry while offering convenience and accessibility as users can verify and authenticate their identity in their e-wallet account through only a few easy steps at all 7-Eleven stores soon.

“Besides our mission to enable everyone to access innovative financial services and leading them to better lives, TrueMoney is committed to explore, invest and deploy the world’s best available security technology on our platform as we believe that user confidence and system credibility is at the heart of the e-financial business,” said Monsinee Nakapanant, co-president, Ascend Money Co, Ltd. “We’ve therefore collaborated with the world’s leading biometrics-based real identity verification and authentication technology provider like Zoloz to bring this state-of-the-art technology to Thai e-wallet users and apply it at an easily accessible venue like 7-Eleven. TrueMoney has worked closely with BoT on this project and we’re proud to help set a new benchmark for e-wallet security while enhancing the national e-KYC standard. Our biometric facial recognition system is expected to be out of BoT’s regulatory sandbox and available at all 7-Eleven branches very soon,” Monsinee said.

“Many of the world’s leading tech companies nowadays utilise facial recognition technology to verify their staff identity to minimise threats and protect them from intruders. Similar to TrueMoney, we deploy this technology and simplify it for our users through an easy smartphone function like taking a selfie. Together with the top biometric technology, which offers up to 99.99 per cent accuracy and fast ID card database verification of less than three seconds, users can now ensure that they’re well protected with top-level security,” Monsinee said.

“TrueMoney understands that today there are many consumers who are well aware of the latest technology and its applications, they are described as novices but want to apply technology to enhance their daily lives. But there are also cybercriminals and fraudsters who adapt to new technology with malicious intent. With our new biometric facial recognition e-KYC system, we help mitigate risks associated with crimes such as harassment, money laundering and grey business, while increasing confidence among e-wallet users,” Monsinee added.

The agreement comes under the guidelines of UNIDROIT (The International Institute for the Unification of Private Law), the most-trusted independent intergovernmental organisation on private laws, and endorsed by the Food and Agriculture Organisation of the United Nations (FAO).

CP Foods introduced the contract-farming model to promote employment and support income generation among Thai farmers in 1975. It currently involves more than 5,500 chicken and swine farmers, with small operators accounting for 90 per cent of the total.

“The revised contract aims to create a win-win partnership by enhancing the participation of contract farmers in the decision-making processes, such as risk management and clarity of compensation and incentives details,” said CP Foods’ senior vice president Narong Jiemjaibunjong.

“We are the first company in Thailand to have applied this international guideline , he said. “CP Foods strives to set the best standards in which farmers are treated as life-time partners.”

The company’s Contract Farming Complaint Centre will expand its communication channels with farmers to handle questions and complaints. Farmers are encouraged to communicate directly with company executives through this channel after voicing their concerns to local staffs.

Also, CP Foods is the first livestock company offering disaster insurance to small farmers. Narong said the company took on the risk on their behalf to ensure stability as well as stressing the importance of risk management.

He added that all contract farms are closely supervised under the same standard as the company’s own operations, ensuring consumers of high quality and traceable products. The company also hosted both group and one-on-one training programmes for farmers to boost their capacity on effective farm management and eco-friendly business practices.

Moreover, CP Foods was the only organisation from private sector to have participated in the Mekong Hub Knowledge and Learning Fair (MKLF) 2019, showcasing its contract farming model to delegates across Southeast Asia.

Thailand’s permanent representative to FAO Thanawat Tiensin, said at the MKLF 2019 that the Kingdom is a role model for contract farming in the region, adding that strong collaboration between the government, financial institutes and private sector had succeeded in raising Thai farmers’ quality of life as well as the standard of Thai food products.

FAO also organised study visits to CP Foods’ contract farms for participants from seven countries in the region: Vietnam, Cambodia, Laos, Myanmar, the Philippines, Nepal and Bhutan.

Armed with the knowledge, they can then adapt the company’s model to their own environment.

The company has also joined with Rakmaw for Stray Cats Foundation to find homes for strays.

With more new-generation people living in condominiums, the demand for cats has been on the rise as these pets are easy to raise in a condominium lifestyle, said Chadon Suwanarit, director of Veterinary Medicine and managing director of Royal Canin (Thailand). “Cats do not make a lot of noise and mostly cause no trouble for neighbours. Cat owners in turn see them as companions, showering them with love and care just like a family member,” he added.

In order to respond to the hygienic way of raising cats and keeping them in good health, the company has focused on nutritional diets by placing emphasis on educating cat lovers via a variety of channels such as veterinary clinics, breeders, pet shops or online platforms, Chadon said.

He said Royal Canin has continuously underlined the importance of establishing a good relationship with cat owners through marketing and sale channels that respond to the behaviour of pet owners.

The company has collaborated with Cat Fanciers’ Club of Thailand to organise the 19th Thailand Cat Show 2019 from July 26 to 29 on the fourth floor of Central Plaza WestGate. Besides the company’s “Take Your Pet to the Vet” programme, there will be other activities by Royal Canin Club, such as cat contests and helping find a home for strays through the Rakmaw for Stray Cats Foundation. Royal Canin will also offer various cat foods at special prices at the fair. The special highlight of the show will be the largest-cat contest, which aims to promote and support the development of cat breeders. It features the international Cat Fanciers’ Association show, a contest for all cat breeds, and the Black & Mackerel Cat Show.

Chadon said the cat food market is expected to grow faster than dog diets this year.

Thailand has more than 12 million dogs and cats raised as family companions, eight million of which are dogs. However, as there are many stray cats, the company has been assisting in the project to find new homes for them through Rakmaw since 2015. So far, 3,353 cats have been adopted, 522 of which have been taken to a new home through the Thailand Cat Show.

“Based on statistics, cat owners visit the vet less often than dog owners because they may think cats are generally healthier than dogs. In fact, cats have the same chance of getting sick as other animals. So cat owners too should take their pets for a health check once or twice a year. The veterinarian can recommend nutritional diets suitable to these animals of different ages and breeds and follow up on their behavior to ensure they maintain good health at any age,” Chadon said.

The company has also developed a Royal Canin Club application to help cat owners understand how to take better care of their pets. The app has useful knowledge based on cats’ ages and breeds as well as advice from nutritionists and veterinarians. People interested in their pet’s health can download the app and register to be a member of Royal Canin Club. Besides the knowledge and advice, there will be a host of fun activities, including points members can accumulate and reward redemption on products and services, the company said.

Royal Canin has been in operation for more than 50 years since French veterinarian Monsieur Jean Cathary founded the company in 1968. The firm’s products have been sold in Thailand since 2005. The company has differentiated itself by emphasising that all dogs and cats should be able to access the best nutrition from the first to the last meal in their lives. It also focuses on two main subjects – firstly, knowledge comes along with love, as the natural behaviour of dogs and cats have been studied before the development of food formulas; secondly, diets have been specially created to best suit the animals’ nature. Dogs and cats are the core for the company’s research and development as well as its science-based innovation. Moreover, its production standards in all corners of the world have been strictly supervised, the company said.

Designed to accommodate the fast-paced urban lifestyle of today, the service allows customers to make a withdrawal, transfer funds or pay bills without leaving their vehicle, while offering around-the-clock security.

The initiative reinforces KBank’s role as a lifestyle banking service provider, which aims to give its clients easier access to banking services via a novel experience, the company said. KBank is also ready to offer the new drive-thru ATM service to customers in areas most likely to benefit from it.

The ATM Drive Thru has seen positive feedback, according to the bank. “If the service receives an overwhelming welcome from customers, KBank will expand it in the future,” it added.

“Kbank is moving forward with our lifestyle banking strategy, aimed at serving the ever-changing lives of our customers,” the firm said.

“Under this strategy, KBank has remodelled our branches and service points to provide easier access to our customers and facilitate them in making financial transactions via online platforms at various community centres. KBank has launched its drive-thru ATM at the PTT station on Borommaratchachonnani Road because of the relatively heavy traffic that prompts many people to stop, refuel their vehicles and use other services there. With limited parking space during certain times at this service station, the drive thru offers greater convenience for our customers wanting to conduct transactions without having to leave their vehicles. This ATM offers the same services as our conventional ones, namely cash withdrawal via card and K PLUS, funds transfer, top up, balance enquiry and bill payments. However, a deposit service will be available in the future.”

The KBank ATM Drive Thru is designed to resemble a giant ATM box with distinctive features. When customers drive through its canopy to expedite financial transactions, they are welcomed by a large 19-inch illuminated touch screen, which automatically adjusts its lighting according to ambient brightness so is suitable for outdoor use both in midday sun and at night. Available all 24 hours, this ATM features a side-mounted keypad, which is perpendicular to the panel to optimise its use from within a vehicle.

Security is enhanced by CCTV and ample surrounding lighting. The ATM canopy can accommodate all types of vehicles which are not more than 2.4 metres tall. Customers simply stop their vehicle next to the booth, complete their transactions, and drive away. The average transaction lasts less than 30 seconds.

“There is no more worry about finding a parking space, as customers can always carry out their financial transactions even on a rainy day and be assured of their security even in the middle of the night,” the bank said.

Milo, which has been supporting Thai children through sport for decades, will send a team of eight talented young football players to represent the country at the Champions Cup to be held from July 31 to August 4.

These players, aged 8 to 12, will have the opportunity to become real-life champions by learning new skills during the Champions Cup, which will bring together football players from 15 countries to train with experts under the Barca Academy Programme at Camp Nou, FC Barcelona, in Spain, the company said.

“Milo continues to support Thai kids to ‘Grow with Sport’ as sport is a great teacher,” said Chaiyong Sakulborrirug, business executive officer of Dairy & Adult Nutrition, Nestlé (Thailand). “This year, Milo has elevated our successful sports marketing strategy to a global level with the Milo Champions Cup. This is Milo’s first world football tournament in collaboration with FC Barcelona, where young players from 15 countries can develop their skills together while learning about one another’s cultures and gaining valuable life experience,” Chaiyong said.

“Losing or winning is not as important as encouraging the spirit of sportsmanship, understanding how practice helps them to improve, and having the positive attitude needed to become a champion, not only on the playing field but in real life. Milo will continue to inspire Thai youth to Grow with Sport for their future success,” he affirmed.

Under the Barca Academy Programme, the young ones will learn to be more creative on the field and strengthen their teamwork in areas such as controlling the ball and fast kicks. The tournament will also have a special rule for granting Milo Green Cards to players who demonstrate the spirit of sportsmanship during a game, in line with the firm’s global concept that good sportsmanship is the key to becoming a good player. The Champions Cup also offers opportunities for female players to join the teams, with each team requiring at least one female player for every match.

“We believe our Milo Thailand team will enjoy a wonderful experience at FC Barcelona, and maybe even win the cup for our nation. However, our ultimate goal is to inspire Thai youth to Grow with Sport to help them become a success when they get older, which reflects Nestlé’s purpose of enhancing the quality of life and contributing to a healthier future,” Chaiyong added.

“Our average outstanding new loan growth from SMEs stand at around Bt100 billion,” said Pikun Srimahunt, SCB’s chief SME banking officer.

However, the bank has only managed to achieve Bt35 billion in loan growth valuing in the first half of 2019, she said.

Despite the low level of growth in the year’s first six months, Pikun expects new loan growth to accelerate in the second half of this year, largely as a result of the stimulus polices widely expected from the incoming government.

At 12 per cent, wholesalers and retailers make up the largest portion of the bank’s portfolio of SME clients, followed by hotels, services and import-export at around 5 to 7 per cent, according to Pikun.

SCB expects to see promising loan growth from wholesale and retail businesses, she said. This is because wholesalers are benefiting from the rise of e-commerce, leading to expansion and thus more loans.

Meanwhile, the government has been encouraging small non-registered hotels to acquire official hotel licences, Pikun continued. This will lead to many small hotels undergoing maintenance and refurbishing, which will result in more loan growths.

The Mekong Wind Power Joint Stock Company, with 95 per cent of shares indirectly held by Gulf Energy according to Gulf’s filing to the Stock Exchange of Thailand, operates the Mekong Project comprising a solar farm project of approximately 30 MW and an offshore wind farm of about 310 MW.

The agreed terms include a USD-equivalent tariff of approximately US9.80 cent/kWh.

The Mekong Project is located in Binh Dai district of Ben Tre province in southern Vietnam. The project is expected to proceed in phases, with the first component of about 30 MW to enter commercial operation in 2021. The second phase of approximately 49 MW is also scheduled to begin operating in 2021, and the 231 MW phase three component is expected to come into operation between 2022 and 2023.

Construction of the first phase of the wind farm is to begin in the third quarter of 2019.

According to the PWC Global Consumer Insights Survey 2019, mobile penetration in Thailand grew 19 per cent from 2018 to 2019 to 67 per cent. This growth underlines the tremendous opportunity for the country to go cashless over the next few years and the great potential for digital finance as Thailand drives towards Thailand 4.0.

Grab’s CEO and Co-Founder Anthony Tan said, “At Grab, we believe that FinTech should be deployed for the good of society and the economy. Together with our partners and governments, we hope to drive Southeast Asia forward by giving millions of unbanked people access to digital payments and financial services, unlocking their economic potential and improving their livelihoods.”

Since its founding in March last year, Grab Financial Group has helped open more than one million bank accounts and has become the most popular digital wallet in Southeast Asia, reaching unbanked and underbanked consumers in the region, offering them a safe and convenient digital wallet, and accessible financial services. Grab is currently the only company with access to e-money licenses in the six major ASEAN countries – Singapore, Malaysia, the Philippines, Thailand, Vietnam and Indonesia.

Last November, Grab Thailand announced a strategic partnership with Kasikornbank to transform customer experience and enhance its ecosystem by leveraging the bank’s  expertise in digital banking. Since then, Grab Thailand has introduced a range of financial solutions in partnership with the bank including:

Personal Loan – this service was launched in Q1 this year to offer driver-partners credit without collateral. The drivers are using the loan to pay for car maintenance, education expenses, rent and groceries to improve their quality of life.

Hire Purchase Loan – this was launched this month in partnership with Kasikornbank’s subsidiary, KLeasing. The Hire Purchase Loan offers driver-partners a means to acquire new motorcycles, helping them serve their customers better.

SME Financing is offered to all merchant-partners without collateral, and at competitive interest rates, helping them to scale and grow their businesses rapidly which eventually help reduce costs to consumers and fuel the growth of economies including job opportunities.

On top of the financing solutions, services such as on-site bank account opening and cash payouts are extended via the Grab app to Grab driver-partners and merchant-partners, helping them go about their daily businesses with more flexibility and convenience. To enable driver-partners provide a better life for their families, Grab also offer them a zero-interest financing plan for smartphones.

“People are using Grab app more as we continue to bring them greater convenience in their everyday life and we have already started working hard to integrate finance services and drive financial inclusion in the country. For consumers, we have GrabPay wallet and GrabRewards, allowing users to pay for all Grab services including rides, food delivery and express delivery while collecting reward points seamlessly within one app; For our drivers, we offer many financing options to help improve their quality of life such as competitive rate personal loan and hire purchase loan through our partnership with Kasikornbank and the zero-interest smartphone plan. For our merchant partners, SME loans are offered to help them scale and grow their businesses more quickly,” said Tarin Thaniyavarn, country head of Grab Thailand.

He traced the history of the Ichitan brand, which has become a market leader and top-of-mind choice for youngsters. One secret to success, he said, was a commitment to creating innovations that bring the best experience and happiness to consumers. He shared his vision and experience through stories about the “Yen Yen” herbal drink that both refreshes consumers and provides them with the benefits of herbs, “Yen Yen Fun” which adds fun to a herbal drink with chewy coconut jelly and “Chew Chew” green-tea drink that also offers coconut jelly.

By offering a unique taste experience, other benefits, and featuring the brand’s “young and fun” characteristics, the three beverage brands have been embraced by young people.

In addition to the product uniqueness, the fact that they are sold nationwide in 7-Eleven convenience stores, which have a highly efficient distribution network, has contributed largely to the company’s success.

Tan, known for his fighting spirit, aimed to offer the young marketers-to-be advice to prepare them for pursuing their dreams in a world where no boundaries exist. The first-year students were from four faculties – business administration, food business management, logistics and transport business management, and management science.