Banking

Thailand’s Kasikornbank (KBANK) mulls Indonesia foray via M&A

Kasikornbank (KBANK), the fourth largest bank in Thailand, is working on its feasibility plan to tap into Indonesia through acquisitions next year.

Published

4 years ago

January 30, 2017

Deal Street Asia

Kasikornbank (KBANK), the fourth largest bank in Thailand, is working on its feasibility plan to tap into Indonesia through acquisitions next year.

KBANK president Pipit Aneaknithi told the media on Wednesday that it has partnered with two local banks in Indonesia currently, and proposed to set up its own footprint in the Indonesian market.

“We also want to expand into Vietnam and Myanmar in 2018, but Indonesia is our priority because its market size is three times larger than Thai market,” he said.

According to him, the main challenge was that the Indonesian regulators require foreign banks to acquire more than one local bank. Also, in a bid to keep the local banking sector competitive, Indonesia does not allow acquisitions of strong institutions.

However, once the framework of Qualified Asean Banks (QAB) is launched, it can probably be another option for KBANK to enter Indonesian market.

KBank plans to open a physical branch in Cambodia next month and another in Vientiane later this year, he added.

Also read:

Kasikorn Bank invests in Tee Entertainment, Zinco

Thai lender KBANK to launch fintech-focussed fund of funds

Source link

DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

Asean

12 Things to Know about the ASEAN Catalytic Green Finance Facility (ACGF)

The ACGF is an ASEAN Infrastructure Fund initiative managed by ADB’s Southeast Asia Department Innovation Hub. It helps Southeast Asian governments prepare and finance infrastructure projects promoting environmental sustainability and contributing to climate change goals.

Published

3 weeks ago

March 24, 2021

Asian Development Bank

Southeast Asia faces an infrastructure investment shortfall of more than $100 billion a year, which may have worsened amid the COVID-19 pandemic.

(more…)

Banking

Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses

Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.

Published

3 weeks ago

March 24, 2021

Olivier Languepin

The Thai cabinet has approved assistance worth 350 billion baht($11 Billion) to help businesses affected by COVID-19 with soft loans and asset warehousing.

(more…)

Banking

APAC Banks to Face Portfolio Valuation Losses As Yields Rise

The latest data suggest that Fitch-rated banks in Hong Kong, India, Indonesia, Malaysia and Taiwan have the largest AFS securities portfolios, and display particular sensitivity to changes in yields.

Published

4 weeks ago

March 22, 2021

Headline Editor

Fitch Ratings-Hong Kong/Singapore-21 March 2021: A rise in yields for long-dated sovereign bonds will result in near-term losses for Asia-Pacific (APAC) banks as they recognise valuation changes on their available-for-sale (AFS) bond portfolios, but the capital impact should be manageable for most rated banks, says Fitch Ratings.

(more…)