By The Nation
The strategies are to focus on loans, FX and derivatives, deposits, trade and settlement, and cross-segment collaboration.
In addition, Krungsri JPC/MNC will focus on expanding business opportunities in the Eastern Economic Corridor (EEC), with Japan’s foreign direct investment (FDI) to Thailand expected to be stable at $5 billion (Bt159 billion) this year, Yuzo Nakada, Krungsri head of Japanese corporate and multi-national corporate (JPC/MNC) banking, said on Monday.
He added that the Thai corporate segment as well as the retail/ consumer segment of Krungsri, would leverage synergies with MUFG and its partner banks outside of Thailand.
The company will also set up three platform evolution initiatives focusing on operational excellence, data intelligence and professional skill enhancement.
According to JETRO research, there are about 4,500 Japanese companies in Thailand. Krungsri views itself as a vital banking connection for Japanese companies in Thailand, with an estimated 70-75 per cent of all Japanese companies here having accounts with Krungsri.
In 2018, loan volume increased by 16 per cent from a year earlier, while deposit volume increased 10 per cent. The collaborative strengths of Krungsri’s local expertise and MUFG’s global network and capabilities are among the most important factors to enable Krungsri to achieve a “AAA” rating by TRIS Rating.
“To support foreign investment into Thailand by Japanese and other multinational customers, we will focus more on the EEC area,” Nakada said.
“The government’s support for various EEC projects will certainly be one of major growth drivers of the Thai economy and should attract more investments from Japan and other countries, both in the shorter and the longer terms. We wish to play a significant role to contribute to the picture,” Nakada added.