Kiatnakin Bank Infos needed

[prepress]

Today I went to Siam Paragon, 4th floor to visit the Krungsri Bank, to check the 2.65% fixed interest promotion. (was recommended here)

On the way down, 3rd floor, I see a sign at Kiatnakin Bank: 3.25% for 8 month, and 3.30% for 14 month fix deposit.

Additionally they have a fixed account with 2.75% where I can withdraw up to 4 times monthly. It sounds all good to me.

Anybody have some experience/recommendation of this bank? I never noticed this bank before.

[Dario]

You don't have to worry about Kiatnakin Bank. Back in their old days (about 20 years ago) they were my stock broker. They were loacated at Amarin Plaza and I was at their premises every business day for about one year and a half. Some people will remember the time when all stockbrokers in Thailand were under scrutiny by the government. Only five of them emerged as clean and sound: Kiatnakin was among them. Over the years they have emerged into a bank. I believe you can trust them.

[MichaelJohn]

My wife and I have used them - no problems.

I believe they were a commercial bank that have only in he last few years expanded in to consumer banking.

Their good rates are to increase their market share.

[Arkady]

Kiatnakin used to be Kiatnakin Finance and Securities. It survived the 1997 financial crisis and even profited from it by buying NPLs from other financial institutions that were later sold at a profit. Due the restructure of the financial sector by the government the securities side was separated and the finance side was eventually upgraded to a bank when the finance ministry decided it didn't want finance companies any more. Only a handful of fincos qualified for the upgrade and the rest had to return their licenses to the ministry. Last year Kiatnakin took over one of the largest securities companies, Phatra. The reason that you've never heard of KKP is probably because it was originally a fiinance company and they weren't allowed branch networks. So KKP has had to build up its branch network from scratch. It specialises in HP finance which doesn't need a huge branch network. I would say it is a safe place to deposit money.

[prepress]

Thanks everybody for your valuable information. It sounds all very good.

I also noticed, they where extreme friendly and the lady spoke good English. Which is also important to me.

Will open an account next week.