News & Announcement

Updated Date 27 Sep 2018
Krungthai Bank upgrades to the highest level of Market Conduct since the beginning of the year

       Krungthai Bank urges all branches nationwide to conscientiously upgrade their operations to strictly adhere to the Market Conduct policy by means of major adjustment on working processes focusing on 3 levels of internal risk management. With this regard, the Bank, especially the Retail Banking Sales & Distribution Group, Compliance and Legal Management Group and Internal Audit Group; has continuously communicate and educate employees for building up their understanding as well as and randomly inspect for non-compliance acts starting from the beginning of the year. In case of fraud incident, the obvious penalty will be strictly implemented. The Bank is confident that every branch will comply with the policy so as to offer customers with the highest satisfaction.

       Mr. Payong Srivanich, President of Krungthai Bank stated that the Board of Directors has strongly emphasized on the “Krungthai Moral” initiative by instilling consciousness, adjusting and preventing non-compliance acts in order to cultivate for integrity culture through several campaigns such as Compliance Champion, CG in Process, and zero tolerance policy. The Bank also focuses on Market Conduct management as on the announcement of the Bank of Thailand’s regulation. Since the beginning of the year, Krungthai Bank conscientiously upgrades internal working process according to the policy with major adjustment on 3 levels of Bank’s internal risk management for the Retail Banking Sales & Distribution Group, Compliance and Legal Management Group and Internal Audit Group. The Bank also encourage all branches nationwide on providing complete and accurate information to customers for consideration without forced selling in order to achieve their highest satisfaction.

       From the early this year, the Bank has determined and emphasized on Market Conduct policy, especially the services which response to customer needs, by means of continuously communicating and providing trainings to employees with the intention to increase their understanding and awareness. With this regard, the staffs will be train under “Train the Trainer” program to become as the training models for branch officer nationwide to follow and practice providing services in line with the Market Conduct standard for every banking product. In case the staffs do not pass post-training test, they will be prohibited to present products to customers. Post-training test will be strictly conducted by their own branch staffs, regional office team and via the Mystery Shopping by other regional office.

       “Furthermore, the Bank is currently supports “Quality Assurance Market Conduct” campaign by guarantee the proper location of selling that comply with Market Conduct policy at every branch by the end of this August. Moreover, this year, the winner branch from Star of QA Award has also formally announced guarantee toward the employees who are in accordance with the Market Conduct policy while selling Bank’s products. This practice will be continuously applied to all branches in the future.”

       Mr. Payong Srivanich, also emphasizes that the Bank has taken into account the customers convenience. Therefore, the Bank previously offers fire insurance service only from high potential associated companies. However, from the beginning of the year, the Bank strictly directs every branch to present products from both internal and external companies to customers. The customers will be able to select insurance product which suit to their will and need the most.

Corporate Branding and Communications Department
27 September 2018