Bangkok--13 Sep--Kiatnakin
Kiatnakin-Phatra has announced the completion of merger between Kiatnakin Bank Public Company Limited (“KK”) and Phatra Capital Public Company Limited (“Phatra”), effective on September 13, 2012. Post merger, the group can collectively be referred to as “Kiatnakin-Phatra Financial Group” (“Kiatnakin-Phatra”). The newly combined firm aims to offer clients with both commercial banking and capital market products and services, with strong aspiration to excel in all core areas. Kiatnakin-Phatra also announced the appointments of “Mr. Banyong Pongpanich” as Chairman of Executive Committee & Chief Executive Officer, “Mr. Tawatchai Sudtikitpisan” as Chairman of Commercial Banking Business & President and “Mr. Aphinant Klewpatinond” as Chairman of Capital Market Business & President.
To achieve its excellence, Kiatnakin-Phatra will integrate strengths of both firms and combine knowledge and expertise in each existing businesses to jointly build additional competencies and synergies to enhance competitiveness. The group emphasizes on building effective workforce, with greater teamwork and creativity in honing its human capital capabilities, under the principle of good corporate governance for the utmost benefit of all stakeholders as well as its commitment to the development of the country’s economy and financial market.
Mr. Supol Wattanavekin, Chairman of the Board of Kiatnakin Bank Plc., quoted “Post merger, Kiatnakin-Phatra will carry out two core businesses, commercial banking and capital market, which will expand from Kiatnakin’s mainly retail clients to Phatra’s network of institutional investors, high net worth individuals and investment banking clients with more sophisticated and variety of products. The firm will be under the leadership of Mr. Banyong Pongpanich who is appointed by the Board of Directors to be Chairman of Executive Committee & Chief Executive Office. Whilst, Commercial Banking Business will be headed by Mr. Tawatchai Sudtikitpisan, Chairman of Commercial Banking Business & President, and Mr. Aphinant Klewpatinond as Chairman of Capital Market Business & President. Both will be working closely with and reported directly to Mr. Banyong Pongpanich.
Mr. Banyong Pongpanich, Chairman of Executive Committee & Chief Executive Officer, Kiatnakin Bank Plc., also highlighted that “We are fully aware of the differences between two organizations especially on some business principles, business models and practices, despite both entities having operated in the same sector. Therefore, I, together with the Board of Directors and management, are determined to develop joint principles, practices and culture for the group. These qualities compounded with flexibility and agility traits will provide solid foundation for Kiatnakin-Phatra for sustainable growth in midst of dynamic and competitive environment.
“After the merger, the group will engage in more variety of businesses, allowing the firm to have a more diversified revenue sources, stable financial performance and increased competitiveness. The Commercial Banking Business, under the supervision of Mr. Tawatchai, will reposition its business direction, including expanding current business scope into new areas that we deem as high potential. Network and funding strategies will thus be devised to support growth strategy. Moreover, we will boost cost efficiency in both operating and funding aspects to balance our growth strategy. For Capital Market Business, spearheaded by Mr. Aphinant Klewpatinond, the group aims to increase the business breadth by utilizing the group’s ample resources in capital base, business expertise and franchise network to further enlarge institutional and individual clients to extract optimal synergies.
Media Contacts:
Kiatnakin Bank Plc.
Ms. Tippawan Wortong (
[email protected])
Public Relations Consultant,
More information can also be found on the website www.kiatnakin.co.th
Phatra Capital Plc.
Ms. Gunyapak Kothum (
[email protected])
Deputy Director, Corporate Communications, Tel: 0-2305-9408
More information can also be found on the website www.phatracapital.com