TMB Bank wins Best Managed Bank in Asian Pacific and Mr. Boontuck Wungcharoen named Best CEO of the Year award in 2015 by The Asian Banker at The Asian Banker Leadership Achievement Awards ceremony held during the recent 16th Asian Summit in Hong Kong.
TMB and Mr. Boontuck are the first recipients from Thailand to receive this industry accolade. The previous recipients in 2013 were Singapore’s DBS Bank and its CEO Piyush Gupta.
The Awards Committee cited the dramatic changes of TMB in recent years as the main reason for bestowing the awards to TMB and Mr. Boontuck. With more than 30 years’ experience, Mr. Boontuck became CEO of TMB in July 2008 when the Bank was chronically loss-making, with persistent asset quality issues and high costs. In its announcement released to the media, The Asian Banker said Mr. Boontuck has been widely recognized for leading the successful transformation of the Bank. He dramatically transformed TMB to be a commercial bank with a focus on transactional banking. Most importantly, the Bank has changed from a loss-making institution to a profitable one. Its net profit in 2014 rose by 66.2% -- the highest among Thai banks. Net profit improved five-fold from, 2009-2014 while asset quality improved. Non-performing loan ratios dropped from 12.7% in 2009 to 2.9% in 2014 and cost-to-income ratios decreased from 77% in 2009 to 53% in 2014.”
The Asian Banker also mentioned that under Mr. Boontuck’s leadership, TMB has been brought to the forefront of the Thai banking sector. To deliver the best transactional banking services, it focuses on developing its employees via a transformative corporate culture that enhances employee engagement and working efficiencies. The Bank’s main area of emphasis was to strengthen its transactional banking services. It introduced products and services that transformed the Thai banking landscape and helped build a positive brand in the market.
The Asian Banker Leadership Achievement Awards are widely acknowledged by the financial services industry as the highest possible accolade available to the individuals in the industry as recognized n the Asia Pacific region. The Awards programme recognizes leadership of financial institutes and complex businesses that are central to the economies of the countries in which they operate. To ensure that heads of banks in each county can be reviewed over a meaningful period of time, this award is made only once every three years. A stringent three-month evaluation process based on a balanced and transparent scorecard had been used to determine the winners.
The 16th Asian Banker Summit was attended by about 1,000 delegates attended the event. Consisting of industry specialists, senior bankers, regulators, service providers and decision makers from leading institutions in Asia, the US, Europe and Latin America, where opinions and responses of practitioners from across the region to global issues are shaped.