6 Su s t a i n a b i l i t y Re po r t 2 0 2 0 I n t r odu c t i o n Cu s t ome r s En v i r o nme n t a l & So c i a l I mp a c t s Pe op l e Go v e r n a n c e App e nd i x MESSAGE FROM OUR CHAIRMAN AND CHIEF EXECUTIVE OFFICER After successful financial closingof theTMB-Thanachartmerger transaction last year, the year 2020 saw initial realization of synergies and the integration proceeding as planned, despite the COVID-19 pandemic and all the limitations it brought. The pandemic had a devastating impact on livelihoods, crippled the global economy, and spread unlike anything we have seen in recent history. During this time, we strived to ensure business continuity and support our customers who have been affected by the pandemic as well as the economy at large. In parallel, we went through internal realignment of the two banks’ operating models, as part of our integration exercise, to ensure the two banks are ready to operate as one legal entity by mid-2021. Equally important, we tried our best to live up to our social responsibility through various safety measures to protect our customers and employees from COVID-19 virus and to prevent further spread of the pandemic. It has been a time of significant change for us, during which we have combined two mid-sized banks to become the sixth largest bank in Thailand by asset size. The merger between TMB and Thanachart allowed us to leapfrog our competitors by strengthening our business model to become more sustainable and competitive. We achieved this during a time of fast-changing technological disruption and a pandemic crisis by harnessing our complementary strengths and economies of scale. Doubling in size and resources make us better equipped to “Make REAL Change” to a newly expanded customer base of 10 million through a comprehensive suite of products and services, an increased number of touchpoints of the combined network, and a larger investment pool that will help us drive innovative digital solutions to address unmet customers’ needs. Ultimately, this reconfirms our belief that the merger was critical in ensuring a sustainable and defensible business model in the long run. In 2020, integration was of utmost importance for the merged bank. Despite the COVID-19 crisis, the integration has remained a priority, with the Board of Directors, management and employees all working together diligently to ensure that it is progressing according to plan in preparation for the Entire Business Transfer in July 2021. In line with our integration plan, we have accelerated the realization of synergies in a number of ways – from pursuing balance sheet optimization, capitalizing on economies of scale to achieve higher cost efficiency, and enhancing digital capabilities while rationalizing the overlapping branch networks. Mr. Ekniti Nitithanprapas Chairman of the Board of Directors Mr. Piti Tantakasem Chief Executive Officer
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