Connect with us
The clever new way to send money abroad

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

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.

Click to comment

Leave a Reply

Economics

Thailand’s economic growth expected to return to 2019 levels in mid-2023

Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.

Published

on

The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.

(more…)
Continue Reading

Banking

S&P maintains Thailand’s credit rating at BBB+ with stable outlook

Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.

Published

on

Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.

(more…)
Continue Reading

Most Read

Recent