SCB: A Leader in Green Finance and Sustainable Partnerships
Kris highlighted SCB’s achievement in sustainable lending:
“We are satisfied with our 180 billion baht in sustainable finance. Compared to other banks, we are number one in the industry.”
He also underscored SCB’s determination to be the first Thai bank to commit to Science Based Targets (SBT) — a challenging goal that SCB is determined to achieve.
SCB is committed to standing beside its customers through every situation, especially during times of crisis, and is opening the door for businesses of all sizes — particularly SMEs — to embrace sustainable practices and transition toward a greener future.
Dr. Yunyong Thaicharoen, Chief Economist and Sustainability Officer at Siam Commercial Bank (SCB), added that SCB offers tailored strategies and financial products for different customer segments, including Sustainability-Linked Loansand Green Loans with special interest rates — all designed to support clients committed to sustainability.
Kris Chantanotoke emphasized that advancing sustainability requires collaboration across all sectors. He noted that both the public and private sectors need to engage in more than just formal discussions — they must have in-depth, detailed conversations about Thailand’s current situation, available resources, and how to work together to strengthen the nation.
As for the bank’s role, SCB stands ready to serve as a key enabler — connecting and supporting entrepreneurs, particularly SMEs, to integrate into the value chains of large corporations, thereby strengthening the broader economy.
3 Strategic Frameworks to Drive Phuket Toward a Model of Sustainable Tourism
Siam Commercial Bank (SCB) believes that tourism in Phuket is a crucial engine to power the continued growth of Thailand’s tourism industry and broader economy. While many other tourism-dependent provinces are seeing stagnation or decline, Phuket remains resilient and continues to grow. This highlights the need for both the public and private sectors to come together and develop a shared plan to ensure long-term sustainability. SCB CEO Kris Chantanotoke proposed three key frameworks for planning and collaboration:
1. Redefining Budget Allocation for Phuket’s Development
Kris emphasized the need to rethink the budgeting model for Phuket. Currently, the province still receives a per capita-based government budget allocation, which does not reflect its actual economic contribution or the demands of a high-performing tourism economy. This mismatch results in underinvestment from the government despite the region’s outsized economic impact.
“If we truly believe Phuket is a special economic zone and a key engine for future income, we need to shift the budget allocation mindset based on new assumptions,” said Kris.
2. Infrastructure Investment Planning
Phuket’s infrastructure remains a challenge. The distance from the airport to popular tourist areas is relatively long, roads are narrow, and the volume of tourists often leads to traffic congestion. For Phuket to evolve into a world-class destination, strategic investment is needed in public transport, water systems, waste management, and resource management to prevent problems like overtourism, which could eventually harm the city’s appeal and sustainability.
3. Designing the Future of Phuket
A clear vision for Phuket’s future is needed. This requires collaboration between the government and private sectorto connect the province to the Andaman Economic Corridor, recognizing that Phuket serves both the mass tourismand ultra-luxury tourism markets.
“Think about Bali — how did it become what it is today? Today, we already have flights bringing tourists directly to Phuket from developed countries. So how do we manage that? Does Phuket need a man-made destination — a must-visit, iconic, world-class attraction? Something that aligns with the bigger picture of connecting economic corridors and making the Andaman region a pillar of economic growth?”
Kris concluded by saying:
“A structured, step-by-step, evidence-based approach, paired with meaningful dialogue between the public and private sectors — raised to the level of national importance — will strengthen Phuket, strengthen Thailand, and truly establish us as a leading tourism destination in ASEAN.”
SCB’s 3 Major Challenges Over the Next 2 Years
- Asset Quality: Managing risks amid an economy still growing below potential
- Digital Disruption: Preparing for fierce competition from virtual banks
- New S-Curve: Accelerating new revenue streams and expanding organizational capabilities
Kris stressed that SCB will not sit back and wait for the world to change — instead, the bank will take proactive steps, driven by innovation, new strategies, and internal transformation. A major force behind this is SCB Wealth, a key pillar in SCB’s evolution into a Digital Bank with a Human Touch.
“Sustainability is in our DNA — not just for the environment, but for the future of the country, for the Thai people, and for SCB to stand with society for the next 100 years,” Kris concluded.