Bank of Ayudhya rebrands private banking business, eyes young rich

Bank of Ayudhya has rebranded its private-banking business as Krungsri Exclusive in responding to the trends of younger high-net-worth individuals.

Executive vice president Kris Chantanotoke said these trends were increasing in Thailand in line with the rest of Asia-Pacific, driven mainly by growing numbers of new entrepreneurs and business successors.

To capture younger customers in this category, Krungsri Exclusive has developed new privileges covering sales and service and such things as investment advice.

Kris said wealthy individuals who used to invest half of their portfolio overseas would refocus on investing in Thailand after investment regulations are eased, including the opening of Asean Linkage trading this September.

The move will support private banking in Thailand in the near future, he said, adding that Krungsri Exclusive gains from it as well.

The bank targets AUM by the end of this year increasing to Bt300 billion.

It also aims to be among the top three banks in the minds of wealthy Thais within three years, Kris said.

For more.

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