Mitihoon – KASIKORNBANK (China) CO., LTD. (KBank China) has opened a new head office in Shenzhen, Guangdong Province, People’s Republic of China. This move aims to enhance the Bank’s services in China while accommodating growth of trade and investment there. Focus will be on Chinese businesses seeking to invest in Thailand and other ASEAN countries, as well as Thai-ASEAN businesses looking to broaden their reach to China. This will help to connect the intra-regional economy, thus strengthening KBank’s position as a Regional Digital Bank in AEC+3 through digital services.
Ms. Kobkarn Wattanavrangkul, Chairperson of the Board, KASIKORNBANK, said, “Since 2017, KBank (China) has operated as a locally incorporated institution (LII) with a focus on helping local Chinese customers gain better access to financial services in order to improve their lives and increase business opportunities under the ‘Better Me and Better SMEs’ concept. We have prioritized digital service channels with the aim of connecting Chinese business customers within the AEC+3 region through the Bank’s network in ASEAN. KBank has prepared for future growth by recently opening a new head office within Shenzhen’s CBD. This was undertaken through an investment for the acquisition of office space covering more than 13,700 square meters on seven floors, from the 12th to 18th floor, to accommodate approximately 1,000 employees and future expansion of services for SMEs and retail customers. Additionally, the expansion aims to elevate the company’s capabilities in digital technology and ensure that its services meet the prevailing needs that go beyond financial services, through KBank’s platforms that leverage its service networks in key strategic locations across ASEAN, including Vietnam and Indonesia.
The opening of this new head office marks another milestone for KBank, not only as it aims to become a Regional Digital Bank, but also as a symbol of the cordial relationship between China and KBank. Since first venturing into the Chinese market in 1994, KBank has actively promoted cross-border trade, including with ASEAN member countries. The strategic decision to establish the head office in Shenzhen is rooted in the Bank’s historical background, favorable environmental conditions, and forward-looking vision. Shenzhen, often referred to as the Silicon Valley of China, is renowned for its technological advancements. Beyond that, it is a key city within the Greater Bay Area covering Hong Kong, Macau and Guangzhou. This area is an integrated economic zone, with the aim of becoming a global hub by 2036.
Setting its sights on becoming the Regional Digital Bank in AEC+3, KBank has collaborated with strategic partners in leveraging advanced technology for the development of products and services that meet businesses’ financial needs. Notable efforts thus far include financial support for Chinese companies expanding their businesses in Thailand and ASEAN, E2E online lending for retail customers, cross-border payment and settlement services, wealth management, and insurance business in China, Thailand, and region-wide – in line with the visa-free scheme. This presents an opportunity to attract more Chinese tourists and businesspeople to Thailand, fostering business relationships and personal exchanges.
Presently, KBank China is the first ASEAN bank to open a headquarters in Shenzhen, with assets of more than 100 billion Baht and average annual business growth of 30 percent, attracting more than 3 million retail customers. The Bank has also opened branches in four major Chinese cities, namely Shenzhen, Beijing, Shanghai, and Chengdu, to cover its service network for business customers in Thailand, China and the AEC. These endeavors are instrumental in differentiating KBank from its peers, in line with its concept of being a Regional Digital Bank.
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