Bangkok--12 Dec--KASIKORNBANK
KASIKORNBANK is moving quickly into the international market, aiming at becoming the Asian bank with the most expertise in regional trade and investment in 2013, helping SMEs to step onto the world stage. The total GDP of AEC Plus (ASEAN and China, Japan and South Korea) is expected to grow 5.1 percent in 2013, with Thai exports increasing 10-15 percent. That, in turn, should boost trade finance revenues by 26 percent.
According to Mr. Songpol Chevapanyaroj, KASIKORNBANK Executive Vice President, in spite of economic slowdown in the US and financial instability in the eurozone, trade and investment in Asia continue to grow, with an economic expansion of 5.1 percent expected for AEC plus in 2013. SMEs need to be fully prepared to compete before the AEC arrives in 2015.
KBank is moving to penetrate markets abroad with the aim of becoming the Asian bank with expertise in the regional market, helping Thai SMEs to invest in markets abroad and helping SMEs abroad who wish to invest in Thailand. Given our partner banks in Asia, Europe and the US with their branch networks and in-depth local business knowledge, KBank should be a great resource for SMEs.
The Bank is utilizing the Inbound Japanese Model of expanding its network of banking partners. The Bank has been using this model in taking care of Japanese customers with operations in Thailand. KBank has also opened representative offices in countries where investment is high in order to provision more efficient services to customers. KBank currently has 35 partner banks in nine countries, Japan, South Korea, Singapore, Lao PDR, Indonesia, Vietnam, Cambodia, Myanmar, the US and the EU, and two representative offices, one in Japan and one in Myanmar.
Cooperating with partner banks, local government agencies and other partners, KBank is able to significantly facilitate local business operations for SME customers. For 2013, the Bank intends to engage additional partner banks in Malaysia, the Philippines and Brunei, giving it banking partners in every AEC country.
In support of SME competitiveness, the Bank has opened the K Global Business Center giving consultation to SMEs on trade and investment in Thailand and the AEC market. The Center is located on the 16th floor of the KASIKORNBANK Phahon Yothin Main Branch. SMEs may contact the Center through the K-BIZ Contact Center, 0 2888 8822.
Mr. Songpol notes that in addition to the full set of financial transactions, KBank services include providing information that is useful for international trade, including major economic indicators, industrial sectors of individual countries and local regulations. Acting as a go-between through our Global Business Matching service, KBank introduces Thai operators to reliable potential partners from Japan, South Korea, China, ASEAN, Europe and the US planning to invest in Thailand and other AEC countries. Major businesses among Thai-Japanese investments include food and beverages, Thai-Myanmar investments focus on agro-industry, Thai-Indonesian investments are mostly in consumer products, and Thai-Vietnamese investments center on franchising. Business matching among four markets, Japan, Vietnam, Myanmar and Thailand, focuses mainly on the food, agro-industry and electronics industries.
China’s expected economic recovery in 2013 will be a boon to exports from trading partners such as Thailand and other ASEAN countries, with rising commodity prices and export growth projected at 10-15 percent. KBank is targeting to attain 2.7 trillion Baht in the trade finance business, up 31 percent from 2012. Fee revenues from international trade are anticipated at 1.9 billion Baht, up 26 percent.