Thai bank Kasikornbank opens its first branch in Ho Chi Minh

The Thai bank Kasikornbank (KBank) has opened a branch in Ho Chi Minh, Vietnam with the aim of linking the trade and investment network with the Southeast Asian country.

The bank has served Vietnamese clients through its two representative offices in Hanoi and Ho Chi Minh since 2015.

Speaking at the opening ceremony held on August 5, Thai Ambassador to Vietnam Nikorndej Balankura said that Thailand is currently the ninth largest foreign investor in Vietnam and also the country’s largest trading partner in the Vietnam Association region. Southeast Asian Nations (ASEAN).

The opening of a KBank branch in Ho Chi Minh is an important milestone reflecting the bank’s strategic vision in strengthening economic ties between Thailand and Vietnam, he said.

Nguyen Van Dung, deputy director of the State Bank of Vietnam, Ho Chi Minh Branch, said the opening of the KBank branch in the city will bring the number of foreign bank branches in the city to 32, helping to diversify activities. of local credit institutions.

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Kattiya Indaravijaya, CEO of KBank, spoke of the potential of the Vietnamese market, saying that Vietnam is a rising star in the South East Asian region with high economic growth. The bright prospects of the economy can be attributed to the success in controlling the pandemic thanks to the effective policies of the Government of Vietnam coupled with efforts to promote a cashless society.

“The opening of a branch of KBank in Ho Chi Minh is an important milestone that reflects the strategic vision of the bank in strengthening economic ties between Thailand and Vietnam”

According to the World Bank, Vietnam’s GDP growth in 2022 is expected to increase by 5.5%. The country is highly resilient with 60% of its population being of working age and digitally savvy.

Kattiya said that KBank aspires to be the first foreign bank in Vietnam to offer full-fledged “digital product solutions” to all customer segments.

Currently, KBank has an overseas service network covering the 3 ACS countries and others, for a total of 16 nations.

Article republished from the Vietnamese state media VNA as part of an agreement between both parties to share content. Link to original article:https://en.vietnamplus.vn/thailand-s-kasikornbank-opens-first-branch-in-hcm-city/235076.vnp