The Most Admired Bank


“We no longer solely aim to maximise our income or market capitalisation. Instead, we set our course to become “the Most Admired Bank,” both in terms of our capability and being a balanced organisation to face with new market players, evolving rules and regulations, and volatile global markets. At SCB, we strive to be an agile and robust organisation that can quickly adapt to technological change.”



Mr. Arthid Nanthawithaya

Director and Chief  Executive Officer 




SCB Approach to Sustainability

The Bank places great importance to integrating sustainability thinking into its business strategy to achieve a balance on three dimensions: organisational growth, environmental responsibility, and social development. SCB sustainability framework then rests on the foundation of creating economic and social growth and stability by offering financial solutions to address customer needs, improve financial inclusion and literacy in Thailand, as well as creating value and trust for all groups of stakeholder. In formulating its sustainability strategy to achieve the vision of becoming “the Most Admired Bank”, the Bank carefully considers and reviews important sustainability issues in the context of the Thai financial and banking industries as well as global sustainability directions.


Contribution to SDGs

SCB has embraced the aspirational Sustainable Development Goals of the United Nation’s 2030 Agenda for Sustainable Development. The Bank views that the SDGs are in line with the Philosophy of Sufficiency Economy, which is a guiding principle for SCB’s sustainability approach. The Bank selects and supports the SDGs that align with its strategies and business plan by fair consideration of the needs of all stakeholder groups.

Stakeholder Engagement

Stakeholder engagement is at the hear t of developing the business towards sustainability. Therefore, are specified guidelines on stakeholder engagement in the Bank’s Code of Conduct. The Bank also encourages every function to continuously foster stakeholder engagement through appropriate channels and activity to understand their expectations and perspectives as well as to solicit feedback and suggestions on the Bank’s operations. This stakeholder inclusion effort also provides an opportunity for SCB to communicate sustainability aspirations and management approach to stakeholders. In addition, stakeholders’ feedbacks serve as input to the report selection process and provides guidance for the Bank to meet stakeholders’ expectations in all dimensions.

Sustainability Materiality Matrix

The Bank annually identified issues and any other relevant topics by considering both internal and external factors, such as business direction and strategy, stakeholders’ interests, issues internationally considered material in the context of sustainability for the banking sector as well as global trends on sustainable development. These issues are annually reviewed and endorsed by management. 2018 SCB sustainability matrix is identified as followed.


Impact valuation

The Bank places an emphasis on understanding the impacts of business activities on every groups of stakeholder. The Bank introduced impact valuation methodology that examines economic,social, and environmental impacts from the Bank’s operations, both positive and negative externalities while attempting to monetises the true value of the Bank’s contribution to society. Key business factors that have been incorporated in the economic, social, and environmental impact valuation methodology are: opportunities to improve operational efficiency, preparation for future legal and regulatory changes, customer base expansion, creating environmental business opportunities through sponsorship, promoting a positive image of the Bank, and transparent disclosure of the Bank’s operating performance to stakeholders.


In 2017, the Bank’s digital banking program was chosen to pilot the economic, social, and environmental impact valuation by considering stakeholders’ expectation and global trends in digital technologies. The Bank calculates positive contributions from product and service delivery on the digital platform which helps promote financial service accessibility. At the same time, the Bank also assesses environmental impacts of digital innovation by using the Natural Capital and Social Capital Protocols, which has been globally accepted, as guidelines. The resulted valuations will be incorporated in the business planning for customer base expansion.

The Most Sustainable Return Company

SCB’s approach to business not only creates economic benefits to facilitate growth but also creates shared value, both directly and indirectly, for all stakeholders. The Bank’s performance is driven by carefully considered strategies to create value for both the Bank and society at large.



The Most Preferred Partner

Driving Digitization 

Digital Banking

Digital technology plays a key role in today’s businesses by enhancing product and service potential and creating a competitive advantage. To increase its digital capabilities, the Bank pursues the “Bank as a Platform” concept by leveraging financial technology, such as artificial intelligence (AI) and blockchain, as well as building a robust financial  ecosystem which will uplift financial services and drive Thailand toward a cashless society.


Products and Services

The Bank continues to develop and improve SCB Easy application to become a truly digital bank. In 2018, SCB Easy application underwent further iteration and improvement to ensure maximum stability, security and speed while delivering lifestyle solutions that  truly meet the needs of today’s consumers. New features, such as online account opening using biometric technology on mobile phones, online cheque services, lending and insurance services were added. Moreover, the Bank introduced chatbot technology to LINE application under SCB Connect account, the first in Thailand to merge banking services with social media technology. With SCB Connect, customers conveniently receive account activity and payment alerts, check overdue payments and remaining balances for credit cards, debit cards, and loans without any fees.

Cashless Society

The Bank encourages consumers, especially those with a preference for using cash, to use more electronic and online services which are more convenient and secure for both buyers and sellers. In 2017, the Bank upgraded its digital platforms to be more stable and secure with a higher capacity to accommodate the expanding customer base in the digital age. The Bank launched the new “SCB Easy Pay – Mae Manee Money Solution” campaign to familiarise target customers, both merchants and users, with the Bank’s new QR code payment. The campaign also highlights the key feature of the system which is a free payment notification through SCB Connect on LINE application, the first and only provider in Thailand. 

Customer Experience

Customer Relationship Management

With the challenges from technological advancement, the banking industry has been revoluntionalised to the point where banks are expected to offer more than standardized financial services. Thus, it has become crucial to understand customer needs at great depth to deliver products and services that are specifically tailored to each customer segment. SCB employs advanced analytics technologies to manage and analyse customer behaviour data with the goal of delivering better customer experience and helping customers realise their full potential.


The Bank strives to be a universal financial service provider that delivers the right products and services to meet customer needs. Therefore, the Bank classifies customers into 3 main segments –Corporate segment, SME segment, and Retail and Wealth segment, with the following management strategy:


Customer Satisfaction Survey

The Bank conducts satisfaction survey with each customer segment through a variety of assessment tools such as TRI*M index and Net Promoter Score (NPS) to measure customer's satisfaction towards SCB and the services provided at branch network. To mesaure satisfaction towards call center services, the Bank uses eQ index to gain insights. The scope of the survey has been extended to include service on digital platform such as the Bank’s mobile digital application, to inform the Bank’s future effort on product and service development.




The Most Caring Employer

People Management 

People Strategy

Amid rapidly changing business environment, people with well-rounded knowledge, capabilities and skills will be the key engine of sustainable success for their organisations. The Bank focuses on enhancing people capabilities at all levels by leveraging cutting-edge technologies to increase effectiveness in people development with comprehensive development plans. The Bank also supports internal job rotation as a skill building mechanism as well as partnering with educational institutions on its recruiting effort. Moreover, employees also have an opportunity to sharpen their skills and excercise their knowledge and capabilities to create social benefits through participation in the Bank’s CSR initiatives.


People Development  

Training and  Development

To develop people capabilities to understand and manage digital transformation, the Bank has collaborated with the International Institute for Management Development (IMD), a global leader in management development, to develop a wide range of modern development programmes specifically tailored for executive and management at different levels. At the same time, for employees, the Bank offers an array of training programmes and courses ranging from mandatory programmes, fundamental programmes to specialised programmes that teach  functional skills for specific jobs, enabling employees to successfully make an internal job transfer to advance their careers. All training programmes are  designed to align with the Bank’s mission and to reflect today’s changing business context.

In terms of attracting and retaining talents, the Bank’s talent development programme aims to sustainably develop and retain talent to be part of the organisation’s workforce. Employee with demonstrated ability and readiness to become future leaders are selected from an array of business units to join the programme and develop leadership, management skills, as well as change management capability. The programme utilises an adult learning approach consisting 1) On-the-job Training (70%) where employee get to try and learn from new and challenging projects as well as visiting other companies that are highly regarded in their industries; 2) Coaching and Mentoring (20%) which focuses on coaching, mentoring programme by executive, and a job shadowing programme and 3) Formal Training (10%) which provides intensive courses to develop core skills that are necessary and relevant to today’s business so that employees can grow together with the Bank.

Talent Attaction and Retention

In conjunction with developing people capabilities and supporting internal rotation, the Bank continues to recruit highly qualified people to strengthen and drive the organisation. The Bank has a proactive recruiting strategy through partnerships with leading educational institutions and organisations in Thailand to access and understand what prospective job candidates expect from companies they would like to work with as well as preparing students to enter the workforce upon graduation. The ongoing partnerships with universities have enabled the Bank to design and execute an effective recruiting programme that truly meets its people needs.

Internal Rotation  

The Bank creates career advancement opportunities for employees at all levels by encouraging internal rotation to facilitate cross-functional learning and skill building. This internal rotation also ensures adequate manpower for the Bank’s future business strategy in addition to giving employees an opportunity to grow together with the Bank in a sustainable manner. For an effective employee rotation and transfer, the Bank has conducted strategic workforce planning and analysis in terms of both quantity and quality by applying a manpower model based on key manpower driver of each business unit, such as sales revenue, transaction volume, and number of customers This analysis enables business units to assess whether they have adequate manpower relative to the amount of work and can effectively plan for resources accordingly.


Communicating with employees and preparing them for internal rotation is another important matter for which the Bank has established a clear approach and procedure. The initial step is to conduct capabilities screening and then provide training necessary for the new positions through a variety of learning formats. Then, employees will receive on-the-job training prior to permanently assuming the new roles and responsibilities. Thereafter, the Bank will continue to monitor and provide additional training to ensure that employees can succeed and reach their full potential in their new roles.




Diversity and Inclusion

The Bank places an emphasis on respect for labor rights and fair treatment of employees without discrimination against gender, skin colour, race, religion, culture or education. This non-discrimination practice has been stated clearly and explicitly in the Bank’s Code of Conduct and communicated to all employees to encourage employees to treat one another fairly and respectfully. Moreover, employees are given complete freedom to join the Bank’s labor unions which are organised into three unions: management labor union, general employee labor union and service employee labor union. The objective of the labor unions is to forge strong relationships between the Bank and employees with a commitment to protecting the rights and fair benefits for members and employees by considering joint interests of all parties.

Employee  health, safety and well-being

The Bank treats employees like family members by ensuring their wellbeing and creating an inspiring and motivating workplace equipped with digital platform facilities. A wide range of channels have been put in place for employees to give suggestions and feedback which have been turned into concrete initiatives to enhance employee well-being at all levels such as redesigning work and recreational space at the head office and branch offices, allowing flexible work hours, providing benefits beyond legal requirements, for instance, allowing full paid maternity leave up to 90 days, full paid paternity leave up to five days, and creating various activities to provide an opportunity for employees to socialise with colleagues in other units and form strong relationships. 


Organizational Health Measurement and Index

Although the Bank has given priority to developing employee capabilities and building positive attitudes toward change from job rotation and technology adoption, it is the Bank’s assessment on employee engagement that is the key indicator for becoming an employer of choice. Therefore, the Bank has assessed level of employee engagement by using the Organisational Health Index (OHI) as a measurement of the Bank’s current strength and readiness for future changes. In doing so, The Bank has engaged a leading global consulting firm to conduct the assessment to ensure neutrality and impartiality.

Health and Safety

A positive and safe work environment is fundamental to sustainable development of an organisation. The Bank develops and follows safety, occupational health, and environmental practices for employees, contractors and suppliers by complying with applicable laws and global standards and to prevent any incidents or accidents that may affect employees, customers, suppliers and contractors operating at the Bank’s premises as well as safeguarding the Bank’s reputation and credibility.


In 2017, the Bank reviewed and announced the latest version of the Occupational Health and Workplace Safety Management Policy which requires all employees to take ownership on safety issues as well as revising the safety, occupational health, and environmental guidelines to be in line with international standards. The Policy and guidelines have been communicated to all branches nationwide to guide workplace safety management. The Bank also assigns branch employees to perform safety self-assessment with the Bank’s Safety and Security Management Unit responsible for advising, following up on the assessment results and supervising the work to improve workplace safety. The key goal is to ensure that every employees come to work and return home safely every day at every workplace.


The Bank regards safety as the duty and responsibility of all employees. Employees must consider their own safety and that of their colleagues, as well as complying with safety and occupational health practices. The Bank places an emphasis on educating employees on safety issues by developing an online training course which offers convenience and accessibility. This safety training course is part of a mandatory training that all employees must complete before the end of their probation periods with the target of all employees successfully completing the safety training course. The Bank also runs a continuous employee safety awareness campaign through a variety of communication channels.

The Most Responsible Corporate Citizen

Sustainable Banking

Responsible lending Policy 

As a financial provider to major capital projects, such as public or private utilities infrastructure development, the Bank plays an important economic and social role by creating jobs and new businesses which lead to a higher standard of living. Even though these major capital projects are necessary to support the country’s economic growth, they may create social and environmental ramifications if managed inappropriately or inadequately. Therefore, it is essential that assessment of social and environmental impact be an integral part of the Banks credit appraisal process. Moreover, as specified in the Bank’s Credit Policy Guide, loans classified as high risk require a higher level of approval authorisation than normal loans to ensure compliance with regulatory requirements and thorough considerations of all relevant dimensions.


In 2017, the Bank began to raise the appraisal standards for responsible lending by conforming with international practices on social and  environmental risk analysis and management, such as the Equator Principles and International Finance Corporate (IFC) Guidelines. These guidelines are appropriately adopted for project finance considerations. Notably, in 2018, the Bank began to review and improve the Credit Policy Guide, by specifying the type of credit which the Bank will not sponsor (exclusion list), as well as establishing sector specific guides for credit considerations. These approaches ascertain that projects, have in place an appropriate management approach to mitigate and prevent potential social and environmental impacts. In addition, the Bank is The Bank is in the process of integratingproject evaluation related document into our the IT system for credit review and approval to ensure compliance with the requirements and also for project monitoring.

Financial institutions play an important role in driving the government’s economic policy on investment in the business sector that helps mitigate environmental impacts from global climate change. Therefore, the Bank focuses on developing loan programs for businesses that help lower environmental impacts such as financing alternative energy businesses, revolving fund for energy conservation and energy and environmental conservation loans for the SME segment. 


Environmental, Social and Governance Considerations in Wealth Management

SCB provides investment advisory services to customers in wealth segment by offering financial investment products in accordance to customer’s investment objectives and risk appetite. Accordingly, the Bank has integrated significant environmental, social and governance consideration into its product offerings, focusing especially on the governance aspect, with the belief that a robust governance system in place will consequently generate positive environmental and social outcomes. The Bank has then applied the Investment Governance Code (I Code) as one of product selection and monitoring criteria for fund, structured note and bond. Similarly, the Bank also has in place risk assessment criteria concerning environmental and social aspects that might impact the performance of the bond issuer. If the findings are material, these are disclosed along with other important information for customer to make informed decisions.

In terms of wealth management advisory, SCB has established Chief Investment Office with responsibilities to review ESG related issues under the umbrella of Financial Management and Investment Policy. Here, preliminary review guideline for specific products are implemented to identify potential ESG concerns. The results are subsequently presented to the Investment Committee, chaired by Chief Risk Officer, responsible for reviewing the policy to ensure its appropriateness and relevance in the current business context. Apart from the comprehensive risks assessment in place, the Bank launched SCB Thai Equity CG Fund to facilitate investment in companies with good corporate governance practices based on CG Scoring ratings of the Thai Institute of Directors, including companies that are accredited members of Thailand’s Private Sector Collective Action Coalition Against Corruption with a good governance track record. This project provides a solution for customers whose objectives were to include ESG consideration in making investment as well as gaining financial return. Finally, the Bank places great importance on the Know-Your-Customer (KYC) process specified as part of SCB and its financial group’s Anti-Money Laundering and Counter-Terrorism and Proliferation of Weapon of Mass Destruction Financing Policy which requires strict compliance from all customers.  


Responsibility to Environment

SCB manages our operational eco-efficiency performances of our key buildings through data governance, data collection, performance target, performance reporting and third-party assurance. SCB seeks to continuously improve our approach to data coverage, data consistency and data collection which we applies new technologies such as cloud computing to improve our process. 


SCB sets up a committee chaired by a senior executive to oversee operational eco-efficiency performance and initiatives. The targets of 10% intensity reduction, by 2023, on individual operational eco-efficiency performance (total energy consumption, water consumption, waste disposal and domestic travel) the performance is also tracked on a monthly basis. 


Internal  Resources Management

The Bank aims to utilize resources optimally to derive the maximum benefits while minimising environment impacts. The Bank’s efforts range from conserving energy, using water wisely, reducing paper usage, and building awareness for optimal resource use for employees through campaigns and communication media. In conjunction with moving toward full digital banking, the Bank also integrates natural resource conservation into the work process.


In 2017, the Bank began to improve the work process to minimise resource usage together with a campaign to use paper wisely by targeting to digitize 50% of the current work process by 2019 which will reduce resource use and shorten process time while contributing to the Bank’s progress on digital banking. At the same time, the Bank focuses on changing the attitude and behaviour of employees and related persons throughout the business value chain to raise awareness of environmental impacts from the operations.


Sustainable  Procurement

Supplier Code of Conduct

Banking operations relies on strong partnerships with suppliers in various tasks to responsibly deliver services and products that meet the Bank's needs. To emphasise integrity and fair treatment among its suppliers, SCB has established a 'SCB Supplier Code of Conduct) as a basis of supplier selection, convering business ethics, labour and human rights, occupational health and safety and environment. 

The supplier code of conduct is annually  communicated to suppliers via the Vendor Communication Day and  suppliers are required to acknowledge and strictly follow the Supplier Code of Conduct. The Bank regularly monitors and audits the supplier compliance and reserves the right to halt the work in consideration of impact or damage. Details of the  SCB  Supplier Code of  Conduct

Green Procurement

The Bank integrates environmental considerations into the procurement process to support environmentally friendly products while helping to drive the green demand in the overall market. The Bank encourages suppliers to improve their product or service quality to respond to market demand for environmental considerations in conjunction with promoting sustainable development in the business sector, aligning with the national policy to become a low-carbon and environmentally friendly society. In 2017, the Bank has communicated its direction and commitment to green procurement to all suppliers to serve as guidelines for working together in the future.



Corporate  Citizenship

Community and Social Empowerment

From the start of concrete CSR efforts, the Corporate Social Responsibility Committee has played a key role in formulating policies, setting operational frameworks, as well as allocating resources and budget for activities to improve the quality of life in the community and society. The Corporate Social Responsibility Function and Siam Commercial Bank Foundation are the key engines that drive each initiative to create long-term impacts, and truly address all stakeholders’ needs, in order to achieve the Bank’s vision of becoming “The Most Admired Bank.”


The primary approach of the Bank’s CSR initiatives consist of youth development and learning enhancement, quality of life and environmental development, and community arts and cultural development. The CSR activities or projects aim to address social needs, develop capabilities, and learning opportunities for youths, ensuring that they grow to become important resources for the country’s development. The Bank’s CSR activities not only contribute to better quality of life in society, but also instil the awareness of social responsibility, volunteer spirits, and the sense of civic duty for SCB people, who are the valuable resources of future CSR activities.


The Bank’s CSR practices also address  five UN Sustainable Development Goals (SDGs), comprises Goal 1, Goal 4, Goal 8, Goal 9 and Goal 13; while instantaneously remain in alignment with the Bank’s aspiration and implementation to become “the Most Responsible Corporate Citizen” for society. Accordingly, the Bank has set key success indicators and monitored performance to assess whether objectives have been achieved, to what level of benefits to the general public, along with gauging the possibility of further expansion. Performance assessment outcomes are regularly reported to all relevant parties, serving as input for further improvement, and development of various initiatives to deepen and broaden benefits to the society.

Financial Inclusion and literacy 

Financial Inclusion

The Bank promotes fair financial inclusion by providing a variety services in the form of both physical branches and digital platforms, such as ATMs, CDMs, virtual teller machines, SCB Easy app, and SCB Easy Net. The Bank also aims to deliver the right products for customers to provide equal opportunities for all groups of the population to access and benefit from financial services which is crucial to the country’s wealth distribution and sustainable development as supported by the Bank of Thailand’s Financial Sector Master Plan Phase III (2016-2020). In addition, the Bank supports low-income earners and small business owners by streamlining the credit underwriting process and simplifying lending terms and conditions as another route to unlevel the playing field of capital access and mitigate the informal debt problem. Furthermore, as a response to changes in the digital age, the Bank partners with a non-bank e-Wallet (or e-Money) service provider to offer digital transaction services such as online shopping and bill payment, to people without a bank account or a credit card, which helps create an ecosystem for a cashless society.

Financial literacy
By leveraging the Bank’s financial expertise and insights on customer behaviour and concerns, the Bank aims to promote financial literacy among all groups of people and entrepreneurs to equip them with practical financial management skills that can be applied to daily life or business. The Bank’s ongoing activities to build engagement in the social media sphere provide insights into the behaviour of social media users and the challenge in creating financial discipline and awareness which is often viewed as irrelevant and complicated. The Bank, therefore, uses a communication strategy that makes the content on this subject interesting by drawing connection to day-to-day events or social trends. The Bank provides information tailored to individual user groups using creative and easy-to-understand presentation techniques, such as infographics, words of wisdom, articles and short movies. These initiatives help bring customers and the Bank closer together and make SCB the leading provider of financial literacy materials on social media which was recognized at both national and international levels.

The Most Prudent Bank


Corporate Governance

The Bank places an emphasis on having a board structure that is independent, transparent, and accountable to ensure maximum effectiveness in corporate governance and to comply with Corporate Governance Code enforced by the Securities and Exchange Commission (SEC) as well as other best practices. The Nomination, Compensation, and Corporate Governance Committee is responsible for identifying qualified director candidates to be appointed at a board meeting or a shareholder meeting by considering a wide range of factors including knowledge, expertise and experience that align with the Bank’s strategy.The Bank’s director selection process treats all candidates equally and fairly with no discrimination against gender, ethnicity, race, religion or marital status. Furthermore, the Bank has also applied the Board Skill Matrix to assess the Board’s qualifications which has been reviewed regularly to ensure that it remains current and appropriate.  Details  of SCB Corporate Governance Policy

Success Metrics and Executive Remuneration

At SCB, corporate performance is identified as part of the annual performance assessment of senior executives’ namely the Chairman of the Executive Committee, Chief Executive Officer and President. Results of the assessment will reflect in the annual compensation which is proposed to the Board of Director for approval.      

SCB Financial Group's Codes of Conduct

SCB announces the SCB Financial Group's Code of Conduct and the SCB Supplier Code of Conduct in demonstrate its commitment to operating a transparent business as well as setting ethical behavior standards for directors, management, employees and suppliers. The SCB Financial Group's Code of Conduct also serves as a direction for directors, executive, management, employees and suppliers to act cautiously and prevent any legal or regulatory violations that will tarnish the Bank’s reputation. The Audit Committee, consisted entirely of independent directors, is responsible for overseeing compliance of rules, ethical principles and the Bank’s Code of Conduct.

The Bank regularly updates both codes of conduct to maintain its relevance and stay current with today’s changing business environment. All directors, executives, managers, employees, suppliers and subsidiaries are expected to acknowledge, sign, and strictly comply with the Code of Conduct. The Bank offers training in the e-learning format for all employees and organises Vendor Communication Day to communicate the Code of Conduct to suppliers who are required to attend the session every year. Details of SCB Financial Group's Code of Conduct

Whistleblower Policy

The Bank establishes the Whistleblower Guideline to serve as a framework for managing the process for whistleblowing and reporting on incidents of fraud, corruption, or violation of the Bank’s regulations, rules and Code of Conduct. The Bank provides diverse reporting channels and has a policy to keep whistleblowers’ identity confidential to protect whistleblowers against retaliatory actions. The Bank has appointed the Fact Finding Committee to conduct prompt investigations once complaints have been raised. The Committee reports outcomes and performance to the Disciplinary Committee and to the Audit Committee every 3 months. The Bank continues to encourage employees at all levels to report incidents or cases that may affect the Bank through the channels that have been set up which will then trigger the investigation and review process.

 Anti-crime Policy and Measures

The Bank focuses on improving its operations relating to Anti-Money Laundering and Counter-Terrorism and Proliferation of Weapon of Mass Destruction to align with business context in the digital age as well as changes in laws and global practices. To this end, the Bank continues to use technologies to improves its operational systems such as Know-Your-Customer, and processes to be up-to-date and optimally efficient.

To ensure the effective establishment and implementation of an anti-money-laundering and anti-terrorism financing-supporting culture, SCB has promoted ‘Prevention, Detection, and Investigation’ as a framework and adopts Anti-Money Laundering and Counter-Terrorism and Proliferation of Weapon of Mass Destruction Financing Policy to which all employees are required to strictly adhere to. SCB has identified the procedure for customer identification. The Bank conduct Know Your Customer (KYC) and Customer Due Diligence (CDD) by requesting identification documents or relevant documents, filling and updating information for both new and existing customers, particularly high risk customers who must declare the source of fund/ revenues and specific objectives of the transaction.



Risk Management

Risk Governance

At management level, the Bank’s Risk Management Committee is assigned with roles and responsibilities to formulate risk strategies in alignment with the Board of Directors’ given direction,while overseeing the overall risk management of the SCB Financial Group. In 2018, the Bank established the Risk Oversight Committee which is an executive committee, mostly consisting of independent and non-executive directors, with the chairperson being an independent director. The Risk Oversight Committee's roles and responsibilities are to provide recommendations to the Board of Directors regarding the direction for risk management. It is to make sure that the direction aligns with the Bank’s business strategy and complies with the risk management framework. This is to ensure that internal risks are managed and monitored at an appropriate level within the identified risk appetite. Moreover, the Risk Oversight Committee also provides reccommendation to the Board of Directors for fostering an organisational culture that constantly considers risk and operates accordingly. At the same time, Risk Management Committee at management level also has roles and responsibilities in providing recommendations on risk management policy, risk management and control framework to Risk Oversight Committee and the Board of Directors for overseeing the SCB’s Financial Group’s overall risk management.

Risk  Management  Framework

When viewing the overall of risk management structure, the Bank has adopted the “Three Lines of Defense” governance framework to increase efficiency and accuracy in every processes. Hence, there are collaborations among internal functions, from the Board of Directors to employees. Furthermore, the Bank also applied the Risk Control Self-Assessment (RCSA) as a tool to identify the preliminary risk. The results are then presented to the Risk Oversight Committee and the Board of Directors for further consideration and conducting risk assessment at organisational level.




Technology Security Strategy

Information security, data confidentiality and customer privacy are of utmost importance to the Bank as dictated by today’s business context where most information and data are stored in anelectronic format. Thus, the Bank has established SCB Financial Group Information Security Policy in which employees of SCB and its subsidiaries, including those in probationary periods and on temporary contracts, as well as all suppliers and consultants, must follow the IT security practices based on the concept of Confidentiality-Integrity-Availability (CIA) triad. Duties and responsibilities related to development, adoption, and compliance to the Information Security Policy are stated in the policy with the Technology Committee performing roles and responsibilities in reviewing and evaluating the Bank’s cyber security systems to ensure that the systems in place are adequate to support the Bank’s strategies. In addition, there is audit function performs audits on cyber security performance and make recommendations for further improvement.



In addition, the Bank has also taken a proactive cyber security approach, for instance, Cyber security Threat Intelligent Surveillance along with continuous improvement in technologies, employees, and processes to monitor, assess, and prevent potential cyber security threats. To prevent cyber security risks arises from internal operation, the Bank has applied machine learning technology to monitor employees’ behaviour, identify hackers, and predict events that may pose security risk to customers’ or the Bank’s data.


To manage and prevent potential risk associated with third-party service providers, the Bank has established the IT Outsourcing Policy, which also applies to cloud-computing services, to ensuredata security, integrity, and customer protection. The Bank identifies the level of approval authority for each type of IT outsourcing, performs an annual audit, and reports the results to the Bank of Thailand to ensure that services provided by vendors are held to the same standard and accountability as if the Bank were to provide the services ourselves. To prepare for emergency and ensure that, in such event, systems can be recovered within an appropriate timeframe, the Bank has developed the IT Contingency Plan in conjunction with the Business Continuity Plan. Processes, procedures, guidelines are clearly specified, along with roles and duties of business units responsible for executing, testing, and reviewing the IT Contingency Plan to ensure continuous improvement and maintain its relevance within the prevailing business context.

Customer Privacy 

Managing and safeguarding customer data to ensure maximum security is one of the Bank’s top priorities. The Bank’s customer privacy practices conform to the Bank of Thailand’s regulation, antimoney laundering and other relevant laws, as well as the Bank’s market conduct regulations. The Bank has prepared and reviewed the Market Conduct Policy, the Data Privacy and Protection Policy for SCB Financial group, and Customer Confidentiality and Disclosure Regulation which state the regulations on customer data protection, prioritise the Bank’s information in the order of importance, specify roles and responsibilities of related business units, as well as approval authority required for assessing customer data. In addition, the Bank has adopted various technologies to protect customer data with tightened security and efficiency.


The Bank respects every customer’s privacy and confidentiality and, therefore, establishes guidelines for customer data protection with the following keyconsiderations: customer privacy, confidentiality, and information disclosure. The guidelines also prevent unauthorised access to personal information and/or account information without customer consent. To obtain customer consent, the Bank will inform customers on the objectives of collecting, using, or disclosing customer data. If any personal information is found to be incorrect, customers can contact  the Bank 24/7 through any branch network or Call Centre to rectify the error. Privacy Policy is communicated on corporate website  -Privacy Policy-


Human Rights

In addition to its attention on internal labor rights, the Bank is aware of the need to manage human rights issues throughout the business value chain. The risk of human rights violations can manifest itself in various forms and can happen to employees, suppliers and customers such as workplace discrimination, violation of customer privacy, social risk from financing infrastructure development or real estate projects as well as human rights violations on the part of suppliers, e.g. labor disputes. Such human rights risk can lead to impact on both the overall business and the Bank’s reputation. Therefore, the Bank has issued the Human Rights Policy to respect and comply with all human rights laws and principles both at the national and global levels. In doing so, the Bank has developed and applied the Human Rights Management Framework throughout the value chain and abided by the UN Guiding Principles on Business and Human Rights (UNGP). In 2017, the Bank undergoes the human rights due diligence process to avoid and potential human rights violations of employees, business partners (i.e. suppliers and customers) and communities.


Moreover, to conform with global standards on human rights risk assessment, the Bank has reviewed and improved its human rights practices as well as conducting a human rights risk assessment. The objectives of this assessment are: to assess risk and set appropriate control or impact mitigation measures for human rights risk; to monitor, review, and report the implementation effectiveness; and to specify governance structure, role, and responsibilities of business units involved in the human rights management process. The Bank is committed to upholding human rights practices for all activities that may have human rights impact and preventing human rights violations.


The Bank aims to conduct human rights risk assessment once every three year in order to comprehensively assess the risks emerged from the Bank's both direct and indirect operations as well as identifying appropriate mitigation measures.




Tax Strategy

SCB ensures strict compliance with relevant laws and regulations both at domestic or international level. The Bank has adopted Tax Policy which is applied to all SCB and all subsidiaries. The policy is aligned with SCB’s strategy in seeking to maximize shareholder value whilst demonstrating responsible tax behavior to all stakeholders. 

Contribution and Spending 

SCB is conmitted to conducting its business by upholding the good corporate governance and codes of conduct. The Bank discloses both financial and non-financial data to all groups of stakeholder through a variety of channels.


In 2017, SCB has supported trade associations such as the Thai Bankers' Association (TBA), Thai Bond Market Association (ThaiBMA), Thai Financial Planners Association (TFPA) in the form of membership fee totaling THB 20,348,466, in compliance with the Bank's Anti-Corruption and Bribery Policy. SCB recognizes that strong networking and alliance for supporting  of national government policies will help strengthen the Bank’s position and the national financial industry.