Connect with us
CGIF-10th-Year-Anniversary

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.

Avatar

Published

on

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.

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.

Comments

Banking

Thailand’s Public debt to GDP ratio within framework says Finance Minister

Currently, Thailand’s ratio of public debt to gross domestic product (GDP) stands at 49.34 percent, which is below the Fiscal Sustainability Framework set at 60 percent.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – The Thai economy is gradually recovering, with monthly economic indicators, such as the consumer confidence index and domestic spending, showing positive signs.

(more…)
Continue Reading

Banking

Raising inequality posing credit risks for sovereign in APAC countries

Governments with weaker social protection systems and tighter fiscal positions will face tougher challenges in tackling income inequality

Pr News

Published

on

By

Moody’s Investors Service says in a new report that the impact of the coronavirus pandemic will exacerbate income inequality in APAC, posing credit risk for sovereigns across the region and in particular for those with weaker fiscal capacity and social protection systems.

(more…)
Continue Reading

Banking

Bank of Thailand steps in to curb recent baht strength

Bank of Thailand accelerates measures to advance the development of the new Thai FX Ecosystem and to limit excessive currency volatilities

Olivier Languepin

Published

on

In a press release published on the 20th of November, the central bank’s Monetary Policy Committee (MPC) has expressed concerns over the rapid appreciation of the baht as this affects the fragile economic recovery.

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,413 other subscribers

Trending