Banks look to capitalise on agent services | Bangkok Post: business

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Adisorn: Teaming up with 7-ElevenBanks are keen to apply for banking agent licences, allowing them to expand financial services at lower cost as more traditional branches close. Adisorn Sermchaiwong, senior executive vice-president at CIMBT, said agent licensing would ease the bank’s expansion through 7-Eleven convenience stores. Prassanee Ouiyamaphan, executive vice-president at BBL, said the bank is working to qualify agents because the scheme fits well with the bank’s business strategy. Mr Sarut said the bank may subsequently close down bank branches in those areas being served by agents as a cost-saving measure. Patchara Samalapa, senior executive vice-president at KBank, said agents would help boost the bank’s customer base.

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