KBank gears up for AEC

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BANGKOK, 11 Feb 2014  Kasikorn Bank Public Company Limited (KBank) has established a division to specifically handle international business affairs, in its bid to prepare for rising trade and investment opportunities brought by the formation of the ASEAN Economic Community (AEC) next year, KBank President Predee Daochai said. 

The move is also initiated in anticipation of the nation becoming an economic partner with China, Japan, and South Korea, the 3 economic power houses of Asia which contribute to 25% of the global GDP.

President Predee said that at the moment the majority or 49% of investments in ASEAN are from Japan, followed by China and South Korea at 16% and 6% respectively, adding that the remaining 29% are intra-regional investments. According to the KBank President, the new international business relations division will provide assistance to Thai entrepreneurs looking to make investments in ASEAN member countries or vice versa.

Meanwhile, Vice President of KBank Pipit Aneknithi disclosed the division would also focus on providing services in international trading, border trading, along with facilitating monetary transactions for tourists visiting Thailand and Thais traveling to nations that have KBank branches