Standard Chartered (Thai)’s Consumer Banking launches “Bonus Marathon”

Aligned strategy with its global network to become World’s Best International Consumer Bank in chosen targets across Asia, Africa and the Middle East


Standard Chartered Bank (Thai) Public Company Limited unveils the bank’s focused strategy for the rest of 2009 to grow Consumer Banking and introduces its comprehensive campaign called “Bonus Marathon” in celebration of the bank’s major annual sponsorship the “Standard Chartered Bangkok Marathon”.

Mr. Vikram Issar, Senior Executive Vice President, Head of Consumer Banking, Standard Chartered (Thai) said the Bonus Marathon brings together a comprehensive range of products under Consumer Banking and offers special prices and privileges for customers during this last five months of 2009. This Bonus Marathon campaign aims to grow the bank’s Consumer Banking customer base aligning with its short-term and long-term strategies, and lay strong foundation to achieve the ambition shared by its global network in some 70 countries around the world to become the World’s Best International Consumer Bank in chosen markets and segments across Asia, Africa and the Middle East.

“Our short-term strategy is to use advantaged pricing, innovative propositions as well as product bundling that are attractively packaged to offer to our customers. In this Bonus Marathon campaign, we offer very competitive interest rates on our savings, mortgages and personal loan. We give away gifts to customers who purchase investment and banc-assurance products. We offer Marathon cash back on credit card from now till the end of the year.

“In the long-term, we want to achieve a more balanced Consumer Banking portfolio. We have been very successful with unsecured lending in the past. With changing market environment, we have adjusted our strategy to be more focused on chosen segments including wealth management, mortgage and SME. We want to shift our portfolio mix towards secured businesses to account for at least 70% by the year 2012. The Bonus Marathon campaign will help expand our customer base in the focused markets and segments.”

Ms. Auraratana Jutimitta, Executive Vice President, General Manager of Wealth Management, Consumer Banking, said the promotion offered in this Bonus Marathon will respond well to the needs of customers who are looking for high yield savings, attractive investment and insurance products, competitive lending and mortgage rates during this last five months of the year. The special promotion includes:

- The much-in-demand Marathon Savings. It is on the offer again, coinciding with the marathon season and marathon concept “the longer saving, the more interest”. This year’s Marathon Savings 4 offers a maximum of 2% interest rate per year with minimum amount of account opening of 200,000 baht. Customers receive interests on a monthly basis, with interest calculated on a daily basis. Adding more flexibility, customers can withdraw their savings twice a month without any withdrawal fee. Customers have until 30 September to open the Marathon Savings 4 account and receive a free gift of Marathon Sport Bag worth 1,000 baht.

- The Wealth Power account offers a maximum of 8.25% p.a. interest rate for one month for customers who open a fixed deposit account with minimum opening of 100,000 baht and purchase a life insurance with minimum premium of 25,000 baht.

- Customers will receive Marathon Combo Set as free gifts when purchasing the bundled products comprising of savings, investment and assurance.

- The unique mortgage innovation launched last year with huge market response and success, MortgageOne is now offering “Free on Four “ fees and charges including mortgage registration fee up to 200,000 baht, tax and duty fee, loan arrangement service charge and asset appraisal fee. This special offer and low interest rates, is valid for both new home and refinance customers, from now until 31 December 2009.

- For personal loan, the bank offers 0% interest for the first six months to customers with five-year installment plan, from 21 September – 31 December 2009

- Marathon Cash Back with maximum 7% cash back is offered to credit card holders of Standard Chartered (Thai) when using the card at nine hypermarkets and department stores including Tesco Lotus, Big C, Carrefour, Central, The Mall, Emporium, Siam Paragon, Robinson and Zen. The cash back offer is valid from now until 31 January 2010.

“This Bonus Marathon campaign for Consumer Banking will help strengthen and expand our customer base in chosen markets and segments. In a near future, we will be launching new business models and opening new branches in new format. These integrated strategies will transform our Consumer Banking and pave the way for Standard Chartered to become the World’s Best International Consumer Bank across Asia, Africa and the Middle East,” said Mr. Issar.