Thailand’s Kasikornbank opens first branch in HCMC

Thailand’s Kasikornbank opened Friday a branch in Ho Chi Minh City, aiming to have 1.2 million clients and disburse over $500 million in Vietnam before 2023.

The bank (KBank) has operated two representative offices in Hanoi and HCMC since 2015.

Kattiya Indaravijaya, CEO of KBank, added that the creditor also aimed to be the first foreign bank in Vietnam to offer fully-fledged digital product solutions to all customer segments.

"Vietnam is a rising star in Southeast Asia with high economic growth. The bright prospects of the economy can be attributed to the success in controlling the pandemic thanks to the government's effective policies along with efforts to promote a cashless society," she said at the branch's opening ceremony.

Thai Ambassador to Vietnam Nikorndej Balankura said the opening of the KBank branch in HCMC is an important milestone, reflecting the bank’s strategic vision in strengthening economic ties between Thailand and Vietnam.

Thailand is currently the ninth largest foreign investor in Vietnam and the biggest trading partner of the country in the Association of Southeast Asian Nations (ASEAN) region, according to the ambassador.

The new branch has raised the number of foreign bank branches in HCMC to 32.

KBank currently has an overseas service network covering 16 nations.