KBank Prepares for AEC+3 0
BY JACOB MASLOW

BANGKOK: -- Kasikornbank, or KBank, plans to focus on digital banking and the Asian Economic Community, which includes South Korea, China and Japan. The bank is preparing for AEC+3, which will be a new growth area for the bank over the next few years as the domestic market matures, and the company achieves a full market share of 30%.

In the next 5 to 10 years, international market assets will become even more significant to the bank. KBbank expects AEC+3 activities to account for 10% of its loan portfolio by this time.

Achieving this mark would be a major improvement from the 1% of the bank’s current Bt1.3 trillion. KBank has been aggressive with its growth targets for AEC+3, aiming for 40% for net earnings and 80% for loans.

Full story: http://ethailand.com/business-news/kbank-prepares-for-aec3/360/

-- eThailand 2015-11-23

"the Asian Economic Community, which includes South Korea, China and Japan"

Must be a typo!

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"the Asian Economic Community, which includes South Korea, China and Japan"

Must be a typo!

​

No it is the +3

ASEAN+3 countries ( +3 = China, Japan, and South Korea)

Because of the non-tariff impediments to imports and other issues many people think that the ASEAN+3 will not be successful. Thailand average import tax on everything is 27% then you add 7% VAT and handling you find one of the most expensive countries in the world to import goods. The corruption in customs department is so strong that it is impossible to stop. A few years ago one of the many governments that we have had at the insistence of some other countries tried to control the corrupt practices. The customs people threatened to strike and the government backed off. At one time import tax was the highest tax contributor to the government. I do not believe that Thailand will give up it's protective attitude on imports, work permits, banking, insurance, immigration and others to allow the ASEAN now called AEC to function effectively. To say the least about all of the other corrupt countries in the group.