New Commercial Bank Views Promising Growth

[george]

New commercial bank views promising growth

BANGKOK: -- Thailand's newly-establised commercial bank, Kiatnakin Bank, has targeted a promising growth over the next three years.

The bank, which has begun operations since October 3, targets that its total assets will grow at a high rate of 20 per cent by the year 2007, to Bt100 billion from Bt64.38 currently, according to the bank's press release.

The bank's top executives also expect to push for expanded lendings to Bt 90 billion totally over the next three years, from Bt 43.61 billion currently.

Earnings from lending interests are normally commercial banks' main revenues.

The Ministry of Finance recently approved 35-year-old Kiatnakin Finance and Securities Co. to have its status upgraded to be a new commercial bank, as requested by the firm.

Kiatnakin Bank now has 16 branch offices throughout the kingdom.

The top executives said the bank's good corporate performance could be witnessed by the 'A' grade rating given by Thai Rating and Information Services (TRIS), the country's renowned rating agency, noting that the bank would continue its 'business partnership' policy with clients.

--The Nation 2005-10-08