BangkokPost-Aug 5
Kasikornbank (KBank) is pressing ahead with plans to become a regional digital bank, with an expansion drive in Vietnam. Aiming to invest more than 2.7 billion baht to fortify its service network within AEC+3 (ASEAN plus Japan, China, and South Korea), KBank has announced its commitment to broaden its presence in the Vietnamese market in order to serve customers across all segments with digital services. For the Vietnam market, the bank aims to lend 20 billion baht and have a retail customer base of 1.2 million by 2023. Kattiya Indaravijaya, KBank chief executive, said that bright prospects lie ahead for the ASEAN economy post-pandemic. Aside from a recovering economy, ASEAN is known for its large marketplace with a growing share of young people — the main driver of its economic expansion. Moreover, the bloc’s economy is set to see exponential growth as more and more consumers lead a digital life, Ms Kattiya added. She said that KBank will focus on the development of technologies and manpower, investment in startups, and business acquisition in key strategic areas during the next three years in the region. KBank will work towards building business networks embedded with the DNA of a ‘challenger bank’ to deliver digital platform services to local users, while aiming to become a regional digital bank. KBank president Pipit Aneaknithi said that the Vietnamese economy is poised to record the fastest growth in ASEAN, thanks to its huge potential in attracting investment from around the world. KBank currently has an overseas service network covering the AEC+3 countries and beyond, for a total of 16 nations. The newest overseas branch is in Vietnam’s Ho Chi Minh City, which will officially open today. Read more at: https://www.bangkokpost.com/business/2361552/kbank-unveils-vietnamese-expansion-plan
