UOB (Thai) sets up new Foreign Exchange advisory unit to support
the overseas expansion of small businesses
United Overseas Bank (Thai) PCL. (UOB (Thai)) today announced the launch of a dedicated Foreign Exchange (FX) advisory unit to help small businesses manage their currency exposure and business risks more effectively as they expand across the region.
Findings from the UOB Asian Enterprise Survey 2014 show that 19 per cent of Thai businesses are looking to expand within Asia. Increasing intra-regional business operations have made currency risk management important to businesses and in response to this trend, UOB (Thai) established a new FX advisory unit to meet local demand for FX solutions.
Ms. Sayumrat Maranate, Executive Director of Business Banking, UOB (Thai), said, “With more local enterprises venturing overseas, customers tell us that managing currency risks has become one of their top business priorities. However, currency swings make currency management challenging and can put cash-flows at risk.”
“The UOB FX advisory unit was set up to help customers manage currency fluctuations, provide business cash flow analysis and offer insights into financial market trends. We are committed to helping our customers manage their business risks more effectively for long-term sustainable growth.”
The UOB (Thai) FX advisory unit, with similar branches in Singapore, Indonesia and Malaysia, consists of 40 FX specialists across the region who are trained to provide advice on currency conversion and hedging solutions, as well as provide insights into financial market trends. UOB is the first bank in Southeast Asia to offer an FX advisory service to small businesses. Complementing the FX advisory service is UOB’s Foreign Direct Investment (FDI) Advisory Units. Since 2011, UOB has set up nine dedicated FDI Advisory Units, including one in Thailand, which act as a springboard for customers to tap into UOB’s extensive banking network in Southeast Asia and access its full suite of corporate banking, commercial banking and personal banking products.
12 December 2014
For More information, please contact
Brand Performance & Corporate Communications,
United Overseas Bank (Thai) PCL.
Parista Yuthamanop Tel. 0-2343-4965