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.
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
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.
Banking
The Importance of E-Wallets for Online Gaming Sites
With e-wallets and cryptocurrency being the most relevant options, banks have been put on the side burner, especially when e-wallets and cryptocurrency allow for fast electronic transfer, that is done instantly.
Online gambling is an industry that needs to keep up with technological trends, to make sure it stays relevant and convenient within the gambling community.
(more…)
Banking
Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures
The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.
BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.
(more…)
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...