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SCBAM sees portfolio growing 50% through bank branch sales.

Bangkok Post (Bangkok, Thailand)

| June 01, 2005 | COPYRIGHT 2005 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Nuntawun Polkuamdee

Jun. 1--SCB Asset Management, a unit of Siam Commercial Bank, expects to boost its portfolio by around 50 percent to 100 billion baht in assets under management by the end of the year.

SCBAM currently manages assets of 65.8 billion baht, up from just 12 billion two years ago.

President Adisorn Sermchaiwong said the company expected to continue to see strong growth from its new product strategy and tie-in with SCB's branch network.

Currently 1,200 SCB employees hold licences to sell unit trusts, a figure expected to grow to 2,000 by the end of the year. The bank has set a policy that for all 589 branches, ...

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Source: HighBeam Research, SCBAM sees portfolio growing 50% through bank branch sales.

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