KBank inks pact with Chinese bank

Banthoon Lamsam, chief executive officer of KBank, said yesterday that this move would improve the financial standings and business opportunities for both banks.
KBank has signed a memorandum of understanding on business and financial cooperation with Li Jiping, executive vice president of CDB.
CDB agreed to provide a reserve of 1.5 billion yuan (Bt7.5 billion) to KBank’s Shenzhen branch, while an equivalent amount will be granted to CDB by KBank to support the Chinese bank’s expansion into Thailand.
Other aspects of this collaboration are syndicated loans for large infrastructure projects and related construction to be extended to investors in Thailand, plus the sharing of valuable data, research experience and business innovations, as well as employee skills enhancement and other training.
All of these features will enhance the financial strength of both parties and fortify this business alliance in the future.
CDB is one of China’s largest financial institutions, engaging in support for national development projects.
As China’s only bank in the China-Asean InterBank Association, CDB has entered cooperative agreements with 10 commercial banks in 10 Asean states, including KBank, to enhance cooperation on financial matters and infrastructure development between China and Asean member countries.
CDB views that trade and investment between Thai and Chinese investors will grow further.
The synergy between the two banks is expected to support their financial needs via enhanced flexibility towards financing for mega-projects in the future.
With healthy continuous growth in the Thai economy, the collaboration should allow CDB to offer services that suit business and investment growth in Thailand, it believes.
This effort is also aimed at strengthening potential and more substantial investment liquidity to assist investors in Thailand and China, as well as an even closer relationship between the two banks.
Banthoon said this financial pact would help highlight cooperation within the private sector in line with cooperation between the two countries, as Xi Jinping, vice president of China, is now on an official visit to Thailand for fortifying business links and for the signing of a government-level bilateral cooperation agreement.

Kasikornbank has signed a business and financial pact with China Development Bank (CDB) to strengthen its business potential in China as well as to accommodate lending to large projects here and elsewhere in Southeast Asia.
Banthoon Lamsam, chief executive officer of KBank, said yesterday that this move would improve the financial standings and business opportunities for both banks.
KBank has signed a memorandum of understanding on business and financial cooperation with Li Jiping, executive vice president of CDB.
CDB agreed to provide a reserve of 1.5 billion yuan (Bt7.5 billion) to KBank’s Shenzhen branch, while an equivalent amount will be granted to CDB by KBank to support the Chinese bank’s expansion into Thailand.
Other aspects of this collaboration are syndicated loans for large infrastructure projects and related construction to be extended to investors in Thailand, plus the sharing of valuable data, research experience and business innovations, as well as employee skills enhancement and other training.
All of these features will enhance the financial strength of both parties and fortify this business alliance in the future.
CDB is one of China’s largest financial institutions, engaging in support for national development projects.
As China’s only bank in the China-Asean InterBank Association, CDB has entered cooperative agreements with 10 commercial banks in 10 Asean states, including KBank, to enhance cooperation on financial matters and infrastructure development between China and Asean member countries.
CDB views that trade and investment between Thai and Chinese investors will grow further.
The synergy between the two banks is expected to support their financial needs via enhanced flexibility towards financing for mega-projects in the future.
With healthy continuous growth in the Thai economy, the collaboration should allow CDB to offer services that suit business and investment growth in Thailand, it believes.
This effort is also aimed at strengthening potential and more substantial investment liquidity to assist investors in Thailand and China, as well as an even closer relationship between the two banks.
Banthoon said this financial pact would help highlight cooperation within the private sector in line with cooperation between the two countries, as Xi Jinping, vice president of China, is now on an official visit to Thailand for fortifying business links and for the signing of a government-level bilateral cooperation agreement.