Bangkok--24 Dec--KASIKORNBANK
KASIKORNBANK aspires to further advancement based on its “Lifestyle Banking” achievement by targeting the fast-growing “new generation” customer base for an increase. The Bank is currently the number one operator in mutual funds, bancassurance and merchant account businesses expecting revenues from fee incomes and loans for retail business to grow at 23 percent and 13 percent, respectively, with 3.3 million new customers.
Mr. Pakorn Partanapat, Executive Vice President of KASIKORNBANK, said the Bank continues to enjoy achievements under “Lifestyle Banking” strategy with the Retail Business Division meeting all established targets in 2013. KBank is currently in the top position of the industry in terms of mutual fund size, total insurance premiums, merchants’ card-accepting volume, spending per credit card, and total debit card spending. As a result, the Bank’s net fee income amounted to 23.2 billion Baht, up 27 percent, most of which were contributed by insurance, credit card and merchant account, and debit card businesses growing 29 percent, 25 percent and 20 percent, respectively.
In 2014, the Bank will remain focused on its “Lifestyle Banking” strategy with business expansion in strategic provinces to encourage more customers to use KBank as their main bank, and acquire new customers. Categorized into sub-segments, new customer groups particularly “new generation” customers will be the Bank’s main focus. “New generation” customers are those aged below 25 years and represent a population of approximately 12 million. They enjoy undertaking a wide range of transactions using mobile devices. As the electronic banking industry leader, the Bank will continue to introduce innovations to enable customers’ easy and fast financial transactions in accordance with the “new generation” lifestyles. As a result, KBank will be able to boost this new customer base which is envisioned to be a market of high potential going forward.
Mr. Pakorn added that fee incomes will continue to be the Bank’s focus and are expected to grow 20-23 percent over-year, thanks to the debit card business. New debit card designs will be issued following the Bank’s success in introducing Angry Birds, Hello Kitty, and Doraemon Debit Cards, while co-branded as well as SME credit cards will also be issued. Moreover, funds transfer and payment systems will be enhanced for customer convenience.
In 2014, credit quality will be highlighted, while the Bank anticipates approximately 10-13 percent of growth in retail loans.
With “Lifestyle Banking”, Mr. Pakorn said KBank customers will hopefully realize how much the Bank understands their needs; he expects at least 3.3 million new retail customers next year.
The “Lifestyle Banking” strategy will be implemented across four fronts:
Products: New products that directly respond to the needs of customers in each sub-segment will be offered. For example, on-the-go technology including that of K-Mobile Banking PLUS enables bill payment with a facility for mobile phone barcode scanning to process direct debit payments.
Advisory service: With 2,500 staff in 975 branches nationwide, K-Expert team differentiates KBank’s advisory service through four communication channels which are websites, e-mails, the call center and Twitter, available 24 hours a day to service the financial needs across all lifestyles.
Services: New technologies will be applied for customer convenience in all financial transactions including digital banking and free Wi-Fi at all KBank branches.
Branches: All branch platforms and electronic channels have been enhanced for customers’ “anywhere, anytime” banking service. The Bank plans to open 170 new branches next year, increasing the Bank’s total branch numbers to 1,145.