1988 - 1997 Expansion through Collaboration

The expansion of Siam Commercial Bank’s deposit base, credit, business, and its range of transaction activities were in keeping with the growth of the Thai economy. Siam Commercial Bank’s ability to make good and steady progress was due to several factors: a market-oriented reorganization, the systematic resolution of poor-quality assets, the revision of the operating system, and the constant monitoring and timely analysis of events. The Bank’s operational effective- ness was recognized by Money & Banking Magazine, which named it "Bank of the Year" for four straight years (1989 to 1992) for the best all-around performance, notably its market share, net profit per share, social welfare activities, and organizational development.

In 1997, the Thai economy was struggling to keep its head above water. Although there was a general lack of public confidence in Thai financial institutions, Siam Commercial Bank continues to enjoy tremendous customer loyalty. Also in this year, Siam Commercial Bank had to recapitalize because the Bank of Thailand required that banks increase their reserves as a provision for doubtful debts and because of the increasing number of problematic loans.