SCB shoots for 20% return on equity

SCB shoots for 20% return on equity

New focus on digital asset services

Siam Commercial Bank (SCB) aims to increase return on equity (ROE) to 20% in five years as part of the bank’s ongoing restructuring.

The reworking of SCB Financial Group under new parent SCB X is focused on new growth businesses, including digital assets. They are expected to generate a better ROE for the group for the next five years.

The new S-curve growth businesses, its digital lending platforms Monix and SCB Abacus, are expected to generate better ROE in the long term, around 20% each, than traditional businesses, said SCB chief financial officer Manop Sangiambut.

These traditional services contribute an 8% ROE now, he said.

The bank is awaiting final approval from regulators for a share swap between SCB and SCB X.

The entire process,…