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Thai Bank Rebrands Private Banking Business To Capture Younger Clients
Bank of Ayudhya, the Thailand-based bank, has rebranded its private banking business to cater to the younger-generation high net worth market.
Bank of Ayudhya, the Thailand-based bank, has rebranded its private banking business to cater to the younger-generation high net worth market.
The private banking arm is now named Krungsi Exclusive, with the goal to increase assets under management from its HNW clients from around THB270 billion at present to THB300 billion ($9.5 billion) by the end of 2012. Wealthy customers with at least THB5 million in AuM at Krungsi had an average age of 40 to 50 years old.
Bank of Ayudhya first introduced its Exclusive Banking service in 2008 and in a span of one year saw its customer numbers rise to 10,000. This number has now reached 25,000.
The new initiative aims to capture younger clients by bringing in new privileges, including investment advice, the firm said.
