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New Thai PM visits UOB's HQ in Singapore

The Edge Singapore
The Edge Singapore  • 2 min read
New Thai PM visits UOB's HQ in Singapore
Thai PM visits Singapore HQ of UOB, Thailand's second largest foreign bank
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The new Prime Minister of Thailand, Srettha Thavisin, was at UOB’s headquarters at the UOB Plaza on Oct 12, during his first official visit to Singapore. PM Srettha, who took office in August 2023, was welcomed by Wee Ee Cheong, UOB Deputy Chairman and Chief Executive Officer, Tan Choon Hin, UOB Thailand President and CEO, and other members of the Bank’s senior management.

UOB has been operating in Thailand for more than 20 years and it is a key market in the Bank’s regional franchise. UOB Thailand is the largest Singapore bank and also the second largest foreign bank in Thailand. It is also the only Singapore bank offering full banking services in Thailand. UOB Thailand is a wholly-owned subsidiary of the UOB Group and has a network of more than 150 branches across the country. It is rated among the top banks in Thailand by Moody’s Investor Services and Fitch Ratings.

UOB announced the completion of the acquisition of Citigroup's consumer banking businesses in Thailand in November last year. The consumer businesses comprise Citigroup's unsecured and secured lending portfolios, wealth management and retail deposit businesses.

UOB has a dedicated one-stop Foreign Direct Investment (FDI) Advisory Unit in Bangkok to support businesses navigating the diverse ASEAN landscape. Since 2019, the FDI Advisory Unit in Bangkok has helped more than 370 companies expand into Thailand, bringing in $2.1 billion of foreign direct investments.

“For more than 20 years, UOB has been steadfast in deepening our commitment to Thailand, including supporting our regional clients to invest into the country. For instance, in the recent four years, our Foreign Direct Investment Advisory unit in Bangkok has facilitated $2.1 billion of foreign direct investments into Thailand. Our deep local knowledge, strong industry expertise and extensive regional network have helped our clients enter new markets and supported their growth across ASEAN and Greater China,” CEO Wee says.

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