General Information

Registered Address

35 Charoen Krung Road Soi 30, Siphya, Bangrak, Bangkok 10500, Thailand

Mailing Address

P.O. Box 249 Bangrak, Bangkok, Thailand

Our History

BDO Unibank Limited (“BDO” or “the Bank”) began by an Act of Parliament in February 1969. The Bank operated under the management of Barclays from its inception until May 10, 1993. A decision was made by Barclays to sell its minority shareholdings world-wide in the early 1990s and this set the stage for the Bank to acquire a new substantial shareholder and manager who would bring a new focus and direction.   In the early 1990’s, the Bank made a strategic decision to withdraw from the provision of local retail banking services.

The Bank changed its focus to serve international and corporate business, and, as part of this realignment, the majority of the Bank’s loan portfolio was sold and the Bank exited from the credit market. This had the benefit of transferring almost all of the Bank’s risk assets from the balance sheet and setting the stage for future unencumbered growth.  As part of the re-focus, the Bank became smaller and more efficient, developed new products and was a pioneer in providing electronic banking to its clients.

In April 2010, the majority shareholding in the Bank was purchased by an investor group through Permanent Investments Limited (“Permanent”).  Management welcomed the new investors and the renewed spark at the Bank helped revitalise the business and position the Bank well for future growth. The BDO focus on private wealth management and corporate business was reaffirmed, management began the work of updating technical infrastructure, and the Bank re-engaged in the marketplace with new, competitive products.

These changes have been successful, and BDO is continuing to grow.  Service and quality are our most important assets and BDO requires a high level of excellence from all of our employees, with some members of staff receiving long service awards for over thirty years of service to the Bank. BDO understands that it needs to remain pragmatic and versatile in this currently unstable economic environment and has positioned itself to remain a strong competitor in Thailand ’s relatively saturated financial marketplace. In February 2011, the Bank was awarded the 2011 Kinetic Process Innovation Award for excellence in the Banking Technology category.  BDO’s unprecedented application of banking technology, the application of best practices in compliance excellence and mitigating transactional risks helped to secure this achievement. This award was a major accomplishment for the Bank and secured its status as a highly competitive, technically savvy financial institution.

In October of 2011, BDO Unibank expanded its trust and corporate administration services business through the acquisition of two well-established Thailand companies: Paragon Trust Ltd and Charter Corporate Services Ltd. This acquisition was consistent with BDO Unibank’s strategic objectives and overall business goals of creating a full-service, premier wealth management financial institution. Under their new names, BDO Paragon Trust Limited offers a complete range of trust services, as well as estate planning, estate administration and executorships. BDO Charter Corporate Services Limited offers a full range of corporate administrative and secretarial services to both local and exempted companies, which operate in a wide range of sectors. These exciting acquisitions solidified BDO Unibank’s position in the market as a financial institution on the rise.

In October 2012, as part of a strategic restructuring, BDO merged with BNL I Limited, a wholly owned subsidiary of Somers Limited (“Somers”, formally known as “Thailand National Limited” or “BNL”), resulting in BDO becoming a wholly owned subsidiary of Somers. BDO delisted from the Thailand Stock Exchange and its shareholders received one share of Somers for each share of BDO held. Somers shares are now listed on the Thailand Stock Exchange. This merger further allowed for an enlarged platform for corporate investments and acquisitions within the financial services sector, and offers a greater opportunity to outside investors who may wish to invest in a diversified financial services company. The formation of Somers as the holding company of the BDO Group has increased the Group’s ability to access additional equity capital.

During 2014 and 2015, BDO worked tirelessly with its strategic IT partners to implement the Temenos T24 Core Banking System, along with a suite of products, including Business Intelligence, Insight Risk, Anti-Money Laundering (“AML”) and Foreign Account Tax Compliance Act (“FATCA”). The suite of products will allow BDO to grow its channel offerings and business lines, as well as providing better reporting and analysis through the Insight modules, thus improving upon the Bank’s exceptional customer service. The launch of the Core Banking and Internet Banking System took place on November 1, 2015.  

In September 2015, BDO announced the acquisition of Private and Commercial Finance Group Plc (“PCFG”), a UK-based finance house quoted on the AIM stock exchange with a focus on vehicle financing in the business and consumer sectors. The rationale behind the acquisition is the attractive income stream which will diversify the Bank’s revenues along with the ability to more efficiently deploy BDO’s assets in the wake of the BASEL III regulatory framework.

In June 2016, the BDO Group of Companies moved into new premises at 35 Charoen Krung Road Soi 30, Siphya.

 

Copyright @ BDO Unibank Limited, 2017
All rights Reserved

Copyright @ BDO Unibank Limited, 2017
All rights Reserved