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Published on November 28, 2007

The centre is designed to provide personalised advice on savings and investment to customers who have accounts containing a minimum of Bt5 million.

Roy Gunara, head of consumer banking at BAY, called the new financial service a new strategy in consumer banking. It is aimed at fulfilling customers' needs while at the same time strengthening the relationship between the bank and its customers.

The centre was introduced after the bank found that customers' needs were various and sophisticated. Some 80 per cent of surveyed customers asked for extra services from the bank.

Located in All Seasons Place in Capital Tower on Bangkok's Withayu Road, the 350-square-metre centre provides customers with business facilities in a comfortable lobby offering television, newspapers, magazines and beverages.

It also has four private meeting rooms for those who want efficient wealth management from eight relationship managers.

Gunara said the centre aimed to tighten the long-term relationship between the bank and customers rather than bolstering incomes. However, it could help to increase the number of high-net-worth customers.

Earlier, Kasikornbank introduced its Signature Centre for high-ranking customers. Bangkok Bank, Siam Commercial Bank and Krung Thai Bank all provide exclusive areas at their headquarters and some branches for wealth-management services.

BAY said its 10,000 eligible customers would receive an invitation to visit the centre and be informed about their various privileges.

They will receive financial advice fitting their individual needs that takes into account demands for investment returns, risks and other factors. Then the range of products - government and corporate bonds, bills of exchange, mutual funds and bancassurance - will be offered to the customers to optimise their financial growth.

Noppawan Jermhansa, BAY's senior vice president for wealth management, said the mutual-fund business had grown over the past three years, indicating it was an interesting choice of investment.

Moreover, customers also had a huge interest in government bonds and debt instruments, she said.

In addition, the targeted customers will be waived for annual account and transfer fees for Krungsri's Cash Connect, a service that links current and saving accounts.

They can buy US dollars and euros cheaper than market prices by 10 and 7 satang, respectively.

Gunara said the bank planned to launch another four Exclusive Banking Centres and zones in Bangkok and upcountry next year, in order to provide the service to eligible customers.

After the exclusive service grows to a satisfactory level, the bank will extend its business to serve medium-segment customers. BAY currently has more than 4.5 million retail customers.

Anoma Srisukkasem, The Nation