Thailand’s Kasikornbank opens first branch in HCMC

By The Investor/VietnamPlus

Sat, August 6, 2022 | 11:02 pm GMT+7

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.

Kattiya Indaravijaya, CEO of KBank. Photo courtesy of the bank.

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.

Tags:

Vietnam

Thailand

Kasikornbank

new branch

expansion

Comments (0)

Latest|Most liked

Tags:

Saudi Aramco seeks to invest in Vietnam, partner with Petrovietnam

State-owned Saudi Arabian Oil Group (Aramco), the world’s largest oil producer, is eyeing to invest in petrochemical-oil refining and petroleum distribution in Vietnam, said president and CEO Amin Hassan Nasser.

Energy - Wed, October 30, 2024 | 11:01 am GMT+7

Emirates seeks to expand presence in Vietnam

Emirates, the flagship carrier of the UAE, has signed two separate memorandums of understanding (MoUs) with Vietnam Airlines and Vietjet as part of the airline's efforts to expand its footprint in Vietnam.

Companies - Wed, October 30, 2024 | 10:02 am GMT+7

Brightening outlook for Vietnam steelmakers with real estate recovery, infrastructure development: analysts

While Q3 results among Vietnam’s steelmakers are a mixed bag of gradual recovery and continued losses, there are several factors pointing to a brighter outlook for the industry, analysts say.

Industries - Wed, October 30, 2024 | 8:00 am GMT+7

Former National Assembly General Secretary faces disciplinary action

The Party Central Committee’s Inspection Commission has proposed competent authorities take disciplinary action against Bui Van Cuong, who stepped down last week as the National Assembly’s General Secretary.

Politics - Tue, October 29, 2024 | 11:10 pm GMT+7

Indonesia aims to become Southeast Asia's EV production hub

Indonesia is actively seeking to boost investment in a bid to establish itself as a center for electric vehicle (EV) and battery production in Southeast Asia.

Southeast Asia - Tue, October 29, 2024 | 10:38 pm GMT+7

Singapore trials autonomous vehicles on public roads for cargo transportation

Singapore’s FairPrice Group (FPG) recently announced that it has become the first organization in the country to receive approval from the Land Transport Authority (LTA) for the final stages of trials to use autonomous vehicles (AVs) on public roads for cargo transportation.

Southeast Asia - Tue, October 29, 2024 | 10:37 pm GMT+7

Malaysia promotes green energy transition

The Malaysian Government has increased the National Energy Transition Facility Fund allocation to over RM300 million ($60.80 million) in the 2025 budget from only RM100 million this year.

Southeast Asia - Tue, October 29, 2024 | 10:35 pm GMT+7

Singapore spends $270 mln on AI infrastructure, human resources

Singapore’s National Research Foundation (NRF) will allocate $270 million to the National Supercomputing Centre (NSCC) in the next three years to train specialists and develop next-gen supercomputers in order to boost AI through supercomputing talent and infrastructure.

Southeast Asia - Tue, October 29, 2024 | 10:34 pm GMT+7

Vietnam gov’t removes curbs on retail investors in private bond offerings

The Vietnamese government has dropped initially drafted restrictions on retail investors of corporate bonds via private placements in a move to beef up the local stock market after recent financial scandals.

Finance - Tue, October 29, 2024 | 10:16 pm GMT+7

Germany’s PNE seeks Vietnam partners for $4.6 bln offshore wind power project

Germany-based wind energy developer PNE AG is seeking “sustainable partners” in Vietnam to deploy the $4.6 billion Hon Trau offshore wind power project in the central coastal province of Binh Dinh.

Energy - Tue, October 29, 2024 | 6:55 pm GMT+7

E-wallet turned financial assistant MoMo banks on ‘power of small things’: exec

MoMo e-wallet believes in the power of small things, Vietnamese ingenuity, technological advancement, and positive change, says Nguyen Manh Tuong, co-founder, vice chairman of the board, and CEO of MoMo.

Companies - Tue, October 29, 2024 | 6:29 pm GMT+7

Keppel subsidiary M1 buys 70% stake in Vietnamese IT firm ADG for $29 mln

M1 Limited (M1), a telecommunications firm under Singaporean conglomerate Keppel, will acquire a 70% stake in Vietnam-based information technology (IT) solutions provider ADG for SGD37.8 million ($28.5 million).

Companies - Tue, October 29, 2024 | 4:27 pm GMT+7

Vietnam’s Masan MEATLife posts $4.14 million in Q3 after-tax profit

Masan MEATLife (MML), a subsidiary of Vietnamese consumer retail giant Masan Group, recorded net profit after tax and pre-minority interest (NPAT Pre-MI) of VND105 billion ($4.14 million) in the third quarter of 2024.

Companies - Tue, October 29, 2024 | 3:25 pm GMT+7

Vietnam’s PV Gas, Russia’s Zarubezhneft to further core area cooperation

PV Gas, under state-owned Petrovietnam, and Russia’s state-owned Zarubezhneft will further cooperate in oil-gas and energy activities, the former said on Monday.

Energy - Tue, October 29, 2024 | 3:05 pm GMT+7

Vietnam steel major Hoa Phat’s net profit may reach $1 bln with new mill

Hoa Phat Group, which claims to be the biggest steel producer in Vietnam and Southeast Asia, may record a net profit of VND20-25 trillion ($793-991 million) when its new mill in the central region becomes fully operational, according to Vietcombank Securities (VCBS).

Companies - Tue, October 29, 2024 | 2:42 pm GMT+7

IFC plans $200 mln loan to LG Innotek Vietnam

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, plans to make a sustainability-linked loan (SLL) of up to $200 million to LG Innotek Vietnam Haiphong Co., Ltd.

Finance - Tue, October 29, 2024 | 10:11 am GMT+7