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WSBI member success: GSB of Thailand

WSBI member success: GSB of Thailand

  • ​​Latest News & Views highlights that GSM ‘Best Retail Bank of the Year 2017’ for 2nd straight year 
  • 21st Century Banking by GSM on display at Thailand's Money Expo 2017

>> Discover: WSBI members in Asia

>> Learn more: Innovation & digitisation

BRUSSELS, 20 November 2017 –​ GSB of Thailand won in June ‘Best Retail Bank of the Year 2017’ from the Money & Banking Magazine of Thailand. The bank received the award, which is based on a Suan Dusit Rajabhat University Poll, during the country’s 17th Money Expo 2017. 

GSB was busy too at Money Expo 2017, which is a chance for thousands of Thais to learn and try out the latest bank services from Thailand’s financial services industry. GSB came out on top during the expo as the most used.

Visitors at the event were attracted to the bank’s wide variety of services on display from GSB promotional campaign efforts. Services designed meet expo visitors’ needs with attractive interest rates and good terms, easy to use processes and friendly staff sharing relevant information. The campaign reinforced GSB’s reputation as a reliable financial institution – a safe bank to be used with confidence. ​

21st Century Banking on display at Money Expo 2017

​​GSB showed at Money Expo 2017 its commitment to a sustainable new century with Digi-Thai Banking, the leading innovator in financial and social innovation under the GSB New Century Concept, "Integrated Solutions for Digital Life ... Economy 4.0, Simply Make It Happen with the New Era, Bringing Digital Finance to 4.0.” To help share this commitment, GSB’s expo booth was divided into two sections: (1) Financial Innovations that help boost the effectiveness of Thais’ lifestyle and (2) Social Innovations to pass on the concept of GSB being more than the social bank to create and maintain a good quality of life for all Thais.

Savings and lending products draw interest

On the financial products and services front, GSB presented a special promotional campaign for visitors to Money Expo 2017, especially the product highlight of the event – a four-month special savings deposit. People queued up to apply for this deposit service at the crack of dawn before the event started because it offers a “step up” interest rate return starting at 1% per annum in the first month that goes up to 4% per annum by the fourth month. The average annual return for the period is 2.5%, equivalent to a fixed deposit of 2.94% per annum. Accounts were opened with a 10,000 Baht starting balance and a 500,000 Baht maximum deposit.

Housing loans formed another outstanding campaign that GSB offered to compete with other banks. GSB offered a special promotion when customers choose to have their life insurance and credit insurance with them, and apply for at least three types of GSB products such as MyMo, cash card, credit card, electronic card, and choose to pay the loan through the account. GSB also offered a special interest rate from 0% for six months to 0% for one year. This promotion included customers who redeem housing loans from other financial institutions with a loan amount of more than 2 million Baht along with the exemption of credit and loan appraisal fees. For small and medium-sized enterprises, the bank offered GSB SMEs DeeVer – meaning “very good” in English – along with GSB SME single account, GSB SME Startup products.

​Applicants for GSB services and joined activities at its booth received gifts and souvenirs.

>> Discover: WSBI members in Asia

>> Learn more: Innovation & digitisation​​

Digitalisation; Innovation; Innovation Hub; Savings mobilization