TMB unveils branch model to lure customers

TMB Bank aims for an 11% increase in new customers this year, underpinned by the omni-channel, both offline and online service.

The bank's new flagship branch model, TMB Experience, is a main contributor to the expanding customer base, said chief retail banking officer Roel Huisman.

At the new branches, customers can use automated financial services and have face-to-face interaction with financial advisers through video chats.

The bank opened two flagship branches on Silom Road and at Iconsiam shopping mall.

A flagship branch is projected to acquire 60% of the bank's new customers on average, two times higher than at traditional branches.

Despite a positive response to the flagship branches, the bank wants to spend more time to measure performance before deciding on new outlet locations, Mr Huisman said.

TMB expects advisory service at TMB Experience branches to attract savings and investment, he said.

Some 56% of local depositors with deposits totalling 3.92 trillion baht park their money in savings accounts yielding low interest rates of 0-0.5%, the executive said.

Despite the new branch model, TMB has no plan to close the existing 416 traditional branches.

The bank has maintained its brick-and-mortar branches at the current level over the past few years because the size is suitable for customers, but it plans to refurbish and relocate some physical outlets in line with changing lifestyles and customers' requirements, Mr Huisman said.

TMB is also considering extending its services through the banking agent channel to offer more convenience to clients, he said.

Banking agents would focus on middle-income customers for money deposits, withdrawals and transfer services, while providing cash and cheque services to small and medium-sized enterprise clients.

"We're in talks with several potential banking agent partners, and a deal is expected to be finalised in the near future," Mr Huisman said.