KBank opens Beijing branch – expands services for customers in Thailand, ASEAN and China
KASIKORNBANK (CHINA) CO., LTD. (KBank China) has opened a new branch in Beijing – its fifth branch in China – to strengthen its regional service capabilities and to capitalize on the mainland's flourishing economic opportunities, in line with its strategy to be a regional bank of choice. Focusing on businesses engaging in trade and investment between Thailand and China, the Bank aims to extend its reach to other ASEAN countries in order to connect regional economies. The Bank is also ready to leverage its digital technology to deliver services and offer digital banking platforms through a vast service network in key strategic areas. KBank has a target to generate over 5,000 million baht in income from its China business within three years.
Mr. Pipit Aneaknithi, KBank President, said, “KBank has operated business as a locally incorporated institution (LII) in China since 2017. We have focused on providing services to local clients to support financial funding with the aim of creating opportunities for elevating their lives and businesses under the 'Better Me and Better SMEs' concept. KBank prioritizes offering services via digital channels while connecting our Chinese customers with those in AEC+3 via its local service network, including the Hong Kong Branch, Shenzhen Branch, Chengdu Branch, Shanghai Branch and Longgang Sub-Branch in Shenzhen. Recently, KBank China officially opened its fifth branch in Beijing, China's capital city in which major government centers are located. The Beijing Branch represents an important milestone of KBank's business expansion there. We see great potential in China, and the Beijing Branch is intended to serve as a bridge linking the Chinese economy with those of Thailand and other ASEAN member states. It has economic development plans in place to create business opportunities for corporate and individual customers in line with the 'One Belt, One Road initiative', as well."
The Beijing Branch is one of our key operating centers in China, serving both Chinese retail customers who use loan services and Chinese business customers who wish to invest in Thailand and other ASEAN countries, as well as Thai-ASEAN entrepreneurs wanting to expand their business in China. Its services are geared towards businesses within the China-AEC value chain, emphasizing investment, trade finance and value chain financing. The Beijing Branch's long-term goals focus on building a new digital business foundation while conducting its banking business, based on financial innovation and sustainable development.
Mr. Pipit added, “Apart from the service network in China, KBank will continue its business operations in the AEC+3 region with digital technology development to provide comprehensive financial and non-financial services that meet current market demands. The Bank offers digital banking platforms through its service network in key strategic areas across the region, fostering connectivity between China and AEC+3, thus enhancing its efforts in the digital era. This aligns with its goal of becoming A Regional Bank of Choice. KBank aims to generate income from China business of over 5,000 million baht within three years."
Presently, KBank has an overseas service network covering the AEC+3 countries and beyond, with a total of 15 branches in 8 countries. These include six branches of the locally incorporated institutions (LIIs), four of which are in the People's Republic of China and two in the Lao PDR. Additionally, the Bank has four overseas branches in the Cayman Islands, Hong Kong, Cambodia, and Vietnam; and five representative offices in China, Japan, Vietnam, Indonesia, and Myanmar. KBank has become a major shareholder of Bank Maspion, including its 50 branches across Indonesia, providing financial, investment advisory and business matching services. Its focus is on expanding business operations overseas and advancing its position as a regional bank of AEC+3, connecting opportunities for customers more efficiently.