Kasikorn Bank extends its Vietnam footprint
(VOV) - Thailand’s Kasikorn Bank recently further extended its footprint into the Vietnam banking and financial services market with the opening of additional branches in Hanoi and HCM City.
The launch of the branches on March 5th and 6th has unveiled the bank’s strategy to increase its presence by specifically targeting the niche market of Thailand businesses that have been rapidly expanding into Vietnam’s commercial and retail sectors.
For the past four years the bank has been nurturing the embryonic development of its banking activities in Vietnam through a strong alliance formed with VietinBank and Agribank under which it had established 147 branches nationwide.
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The opening of these two additional branches is testimony to the banks determined commitment to further reach out to the Thai business community operating businesses in the country said General Director Preedee.
We are now in a position to offer a broader suite of banking products and services that will appeal to and better serve them while at the same time deepening and strengthening our presence in Vietnam, he said.
We appreciate the opportunity to have been granted a license to operate these two branches under the permit of the State Bank of Vietnam (SBV).
Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong in turn thanked Predee and other officials at the bank for making the decision to expand into Vietnam and affirmed that foreign banks have been instrumental to the development of the country’s banking system.
The opening of the branches in the lead up to the formation of the ASEAN Economic Community (AEC) later this year is a strategic move that will serve to strengthen cooperation and trade relations in the field of finance and banking, Hong concluded.