Bangkok – Kasikornbank (KBank) has been approved to set up a Chinese headquarters in Shenzhen, opening trade opportunities for Thai businesses.
The bank branch was approved by the China Banking Regulatory Commission. KBank has also signed a memorandum of understanding with the Department of Commerce of Guangdong Province to facilitate Chinese businesses who wish to invest in Thailand and vice versa.
KBank CEO Banthoon Lamsamsaid said the Chinese branch will focus on promoting trade and facilitating business between the two countries. The branch will support the government’s policy of promoting investment and will use digital technology to expand coverage to its Chinese customers, instead of opening additional brick-and-mortar branches.