Awards for Distinction 2022 – Best Domestic Private Bank – Thailand

Best Domestic Private Bank Thailand

 

Kiatnakin Phatra Securities PCL

Best Domestic Private Bank – Thailand

Narit Kosalathip

head of Wealth Management

Our journey in wealth management started 23 years ago with the Philosophy of Wealth as our core belief. It began with the understanding that true wealth is not just about money. You are rich if you are not fearful about what the future holds. This simple idea has guided our strategy and resource allocation to achieve one plain goal — making ourselves valuable and relevant to every life-critical moment of the client.

In extremely challenging times — such as in 2022 — having a clear purpose helped us focus on what matters most: making sure that clients are not fearful of the economic fallout, the energy and food price shocks, the uncomfortably high inflation levels, geopolitics or any other nightmare scenario that could unfold.

Trust is a short but intricate word. To gain trust in the world of private banking requires more than a decent platform, good products and able people. Gaining trust is a long-term journey, conditional on consistency, and the quality of end-to-end relationship with clients.

This award is a testament to the fact we can be a bank that clients can depend upon, especially during uncertain times. Our resilient performance and strong momentum with clients over the past year reassure us that our Philosophy of Wealth is timeless and effective for the years to come.

What was behind the judges’ decision?

  • Despite tough underlying market conditions, Kiatnakin Phatra Securities grew its AUM by high single-digit figures during the period under consideration and garnered a significant volume of net new money from its HNW clients. In the view of the judging panel, this is indicative of the trust that clients place in the bank to protect their wealth and generate value
  • In 2022, Kiatnakin Phatra Securities showed an impressive capacity to innovate and adapt to turbulent market conditions through its product offerings. For example, the penetration of principal-protected and twin-win structured products in the client base dramatically increased during the period under consideration. Similarly, the bank was successful in carving out a differentiated offering in private markets — such as growth technology and real estate — which resonated with local clients
  • Capitalising on rising demand for wealth planning and family offices in Thailand’s onshore market, Kiatnakin Phatra Securities managed to capture a considerable slice of this business in 2022. In the view of the judging panel, this is partly down to the bank’s astute marketing and educational efforts, such as holding dedicated programmes on next-gen and succession planning

What we said

Volatile market conditions could do little to knock Kiatnakin Phatra Securities off its perch as the undisputed, number one domestic player in Thailand’s onshore wealth market. During the period under consideration for the 12th Awards for Distinction, the Bangkok-based private bank showcased its capacity for innovation in investment products, client service, wealth planning and ESG, said Carly Lau, reporter, Asian Private Banker, and member of the judging panel.

In short, Kiatnakin Phatra Securities demonstrated beyond doubt its excellence as a fully fledged end-to-end provider of holistic wealth solutions. The bank is a worthy winner of Asian Private Banker’s accolade for Best Domestic Private Bank – Thailand.

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