Asian foothold and local expertise give UOB (Thai) a regional edge

Global in scope yet replete with local knowledge, United Overseas Bank (Thai) possesses the best qualities of the international and domestic banking worlds. A subsidiary of United Overseas Bank (UOB), UOB (Thai) has leveraged its parent's pan-regional network and strong foothold in Southeast Asia to operate as a fully fledged local bank with offshore banking services. This "hybrid" quality sets UOB (Thai) apart from other institutions in the country.

"We have a regional presence, especially through our Southeast Asia network, that is unrivalled by any other bank," says Peter Foo, UOB (Thai) president and CEO. "We are also very deeply rooted in Thailand, with a good understanding of local knowledge and culture."

As an integrated part of UOB's business and a key component to the group's regional strategy, UOB (Thai) has taken a prudent and sustainable approach to building its business, understanding that first-hand experience with local market dynamics is essential to success over the long term.

That philosophy is a key differentiator when it comes to managing its business through each market cycle. "Everything that we do here is to ensure that our customers can be supported through the ups and downs of market cycles," Foo says. "Our integrated and wholly owned Southeast Asian network is unparalleled and difficult to replicate, but at the same time it was born hand in hand with our customers' regional expansion plans."

While size sets offshore and domestic banks apart, the two also differ in the kind of clientele and specific services they offer. However, hybrid banks cater to all types of clientele and offer a range of services common to local and offshore banks. Corporate customers with cross-border needs have traditionally relied on banks such as UOB for their regional business expansion. Locally owned and operated, with employees from within the towns they serve, domestic banks are immersed in the community and have a better grasp of local needs. The combination of these qualities defines the versatility of hybrid banking as exemplified by UOB (Thai).

"The building blocks of most banks are the same," Foo says. "Banking is about people and relationships, and how it all comes together in providing services that meet our customers' needs."