Bangkok--8 Aug--Kiatnakin Bank Kiatnakin Bank aims to maintain growth for loans and deposits at 30% and 20% respectively. The Bank has recently launched KK Priority Banking service to funding customers this month. Mr. Tawatchai Sudtikitpisan, the president of Kiatnakin Bank Plc, said “From preliminary assessment on Kiatnakin Bank’s performance, which was conducted last week, the Bank expects the Hire-Purchase Loan for automobiles to grow by 30%, deposits by 20%, and overall assets by 13-17%, which goes in line with our target projected earlier this year. Regarding the operating results for first half of 2007, the net profit of the Bank is Baht 774.4 million, up by 50% from the first quarter of the year. The Hire-Purchase Loan for automobiles, which takes up 59% of total loans, in the first half of this year has grown by 14% on average since the end of 2006. Kiatnakin Bank has the market share of around 7-10% in this practice. The Residential Project Loan and Commercial Loan are expected to grow according to the market sentiment, and are expected to remain the same.” On marketing of the Hire-Purchase Loan for automobiles, Mr. Tawatchai said for the latter half of this year, the Bank aims to penetrate Bangkok market by offering a pilot project “Car Auction, Quality Guarantee”, in which qualified cars within five-year usage are brought for auction at Kiatnakin Bank Car Center every weekend. Around the end of November there will be a big event entitled KK Used Car Expo in which the Bank partners up with car dealers in aggregating previously-owned cars as well as offer loans to the customers. In addition, the Bank has joined the Motor Expo 2007 event and planned to offer the Hire Purchase Approval Revolution, the technology that allows the Bank to grant loans within 30 minutes. Ms. Thitinan Wattanavekin, head of treasury and funding at Kiatnakin Bank, mentioned the fund raising plans that “Earlier this month, the Bank has launched “KK Priority Banking”, a special savings service to the clients. There are two categories of service. First, the Priority Banking service is initiated for general clients with a fixed account or B/E with the amount of over Baht 2 million and the maturity of nine months onward. Second, the Young Priority Banking is intended for the children of the Priority Banking members. Both categories take up to approximately 70% of the savings client base. Priority Banking is equipped with the concept “Healthy & Save” through activities and services that are geared towards healthful living for the clients, including Healthy Mind — an impression for good activities and good health; Healthy Body — health check-up service; Healthy Financial — grow your savings; and Save Time: Save your TIME @ KK One Stop — a well-rounded financial service together with guidance on savings and investment to maximize the client’s benefits, by proposing financial tools that are catered to the clients’ needs and developing service channels such as client’s lounge or a privilege to have a personal Relationship Manager. The Bank will also expand Priority Banking service to Asoke branch, at K Tower (formerly known as CMIC Tower), and will make it more convenient, comfortable, modern, and filled with special services to fulfill the customers’ needs following the concept “Let our living room be the starting point for your success” Furthermore, in mid-August, Kiatnakin Bank has partnered up with AIA and ING to engage itself in Bancassurance or selling insurance policies through the Bank, which will be the life insurance policies that offer the best benefits to the clients. For those who are interested in higher returns on investments, Kiatnakin Securities Company Limited, a subsidiary, also provide consultations on investment in mutual funds. Kiatnakin Securities is currently the selling agent for mutual funds of over 12 companies, and appoints Relationship Managers as investment advisors to provide maximum convenience to the client, concluded Ms. Thitinun. As of June 2007, Kiatnakin Bank has deposits, debentures and B/E about Baht 58,000 million (70% for deposits; 30% for debentures and B/E). The deposits of around 8,000 accounts include both short-term and long-term, at 50:50 ratio. In 2007, the Bank anticipates the borrowings to grow by 20% from more savings and debenture and B/E. The interests for fixed accounts for individuals, with the principle of over Baht 500,000 and the maturity of 6-60 months, range from 2.25-4.00%. The interests for B/E, value Baht 1 million onward and with the maturity of 6-60 months, range from 3.00-4.50%. Note to Editor: Kiatnakin was established in 1971, and started operating as a commercial bank entitled “Kiatnakin Bank Public Company Limited” on October 3, 2005. The bank has a capital base of 17,853 million baht and assets of 78,524 million baht. Currently the bank has 21 branches throughout Thailand. The bank provides savings and credit services, including saving deposits, fixed deposits, current account deposits, as well as Hire-purchase loans, Residential project loans, Corporate and industrial loans, and more. For more information, please contact Ms. Tippawan Wortong (Mo) at Mobile: 081.421.2923 or E-mail: [email protected]; [email protected] Click for photo release at www.thaipr.net