Kasikornbank (KBank), one of the largest banks in Thailand, officially unveiled its first branch in Phnom Penh with the aim of offering financial services to local businesses as well as corporate and retail customers. KBank entered the Cambodian financial market in November and initially, the branch’s objective was to facilitate Thai businesses in Cambodia in the area of corporate finance and fund mobilization for investment in infrastructure projects towards the production of garments and processed food.
 

KBank services are available in Thai baht, US dollars and Cambodian riel for bilateral trade activities and other transaction services. KBank president Predee Daochai said the bank’s first injection of investment capital into Cambodia was $50 million and it will increase, based on bank performance and demand.
 

Mr. Predee said recently that KBank’s loan portfolio was $2 million with a small amount of deposits. However, the bank expects to expand its loan portfolio to about 1.5 billion baht ($43 million) to corporate customers, local businesses and retail customers, both Thai and Cambodian, in the next three to five years. “We have to grow in terms of loans and deposits. Our loan portfolio is $2 million, but we have targeted that within the next three to five years, it should rise to two billion baht [$57 million] and we aim to have 800 million baht [$22.8 million] in deposits,” he said.

 

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-- © Copyright Khmer Times 09/02

They better provide better service than they do in Thailand.... correction They better provide service at the new Branch 'cos there ain't any at their existing Branches!!! "Service is our fart"!!!!