First CIMBT 7-Eleven sub-branch opens

Thai bank CIMB says it will open between 20 and 30 sub-branches inside 7-Eleven convenience stores within the next 12 months.

The CIMB 7-Eleven branches are aimed at providing extra accessibility to bank services by co-locating in areas where a full-scale bank branch is not warranted.

All of the new branches will open in the broader Metropolitan Bangkok area.

The first sub-branch opened this week, on Rama I.

Adisorn Sermchaiwong, senior executive vice-president of CIMBT’s Consumer Banking Group, says it marks the first time a Thai commercial bank has opened a sub-branch in a convenience store of any brand.

Customers can use the branch to open and close accounts, deposit cash and exchange foreign currency as well as apply for loans or leasing. Cash withdrawals will not be permitted, however, with customers invited to use co-located ATMs.

The branches will be open from 10.30am to 5.30pm daily.

“Right now our lives are greatly linked with convenience stores from the start until the end of the day, and that’s why we chose to open our sub-branch in a convenience store,” said Sermchaiwong.