RBS sees promise on Asia Pacific trade finance
Royal Bank of Scotland will give importance on trade finance in Asia-Pacific, including Thailand, due to its great promise.
Market is expected to see greater trade activities from investment migration.
After restructuring its investment-banking arm to "markets" and "international banking" early this year, RBS iscontinuing to provide foreign-exchange, debt capital market, transaction and risk-management services.
International banking will be in charge of trade-finance, payment and cash-services management, liquidity and deposits and loans.
RBS can bolster income from this region by providing DCM, risk-management and transaction services, said Manfred Schmoelz, head of transaction services origination and network client coverage for Asia-Pacific.
He said the crucial role in delivering healthy income to the bank would be played by trade finance in Asia and the Pacific because investment is expected to shift to this region from Europe and the United States.
Multinational companies are planning to expand in this region and the Thai government is using tax incentives to encourage foreign investment.
Asia-Pacific transaction services account for 17 per cent of the group's total income. RBS will stronglypromote its services to local companies with offshore investments and multinational companies that invest in Thailand and elsewhere in the region.
Even though the bank has no plan to add a branch in Thailand, it has hired about 60 staff to support customersespecially local companies because the bank plans to expand the share of local companies with offshore investment.
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