Thai Bank Launches Corporate ESG Deposits

Thailand’s Bank of Ayudhya has launched Sustainable Deposit, a term-deposit product for commercial and corporate clients to support social and sustainable projects.

The Sustainable Deposit program is a Baht deposit account for corporate customers with a minimum balance of 50 million baht (US$1.4 million). The bank aims to expand its social and sustainable finance portfolio to 100 billion baht US$2.82 million) by 2030.

Bank of Ayudhya, known locally as Krungsri, will use deposited funds for corporate bonds and financing for decarbonisation efforts and sustainable projects such as social loans for construction of school and hospital buildings or green loans for clean energy projects.

Japan’s Toyota Leasing (Thailand), which manages vehicle loans for the Toyota Motor company, is the first depositor of Sustainable Deposit program.

Ms. Chuenkamol Dapparungsi, President of Toyota Leasing (Thailand), said:, “We are not only determining to conduct our business for profitability but are also conscientious about our stakeholders, society, and the world at large. We are committed to continually improving and aligning our operations with ESG principles: Environmental, Social, Governance with Corporate Sustainable Development Goals with a goal to steer our business towards a sustainable future.”

In addition to being the first Japanese company that supports the sustainable deposit product in Thailand, Toyota Leasing (Thailand) was also the first Japanese corporate customer that joined hands with Krungsri in the successful issuance of green loan and bond in 2021.