KBank plants stake in Indonesia to aid bilateral trade
Kasikorn Bank has underscored its role as an “AEC+3 bank” by entering the Indonesian market with a 9.99-per-cent share in Bank Maspion Indonesia.
The partnership links KBank to a network of 51 offices located in major Indonesian cities where Thais have invested.
It is expected to result in improved services for investment and trade finance, SME banking and digital banking for both banks and pave the way for KBank to serve bilateral trade.
Bilateral investments are targeted to reach US$20 billion (Bt665 billion) in value within three years, KBank president Predee Daochai said on Monday.
He said KBank had committed to a stronger presence as an “AEC+3 bank” serving businesses across Southeast Asia via the Asean Economic Community (AEC) as well as China, Japan and South Korea.
The partnership with Bank Maspion was proof “that we will deliver on the commitment”, Predee said.
