HCM City (VNA) – Thailand’s Kasikornbank (KBank) has opened a branch in Ho Chi Minh City with an aim to linking trade and investment network with the Southeast Asian country.

The bank has served Vietnamese customers via its two representative offices in Hanoi and HCM City since 2015.

Speaking at the opening ceremony held on August 5, Thai Ambassador to Vietnam Nikorndej Balankura said that Thailand is currently the 9th largest foreign investor in Vietnam and also the largest trading partner of the country in the Association of Southeast Asian Nations (ASEAN) region. 

The opening of a branch by KBank in HCM City is an important milestone reflecting the bank’s strategic vision in strengthening economic ties between Thailand and Vietnam, he said.

Nguyen Van Dung, Deputy Director of the State Bank of Vietnam, HCM City branch said putting into operation of KBank branch in the city will raise the number of foreign bank branches in the city to 32, contributing to diversifying the activities of the credit institutions in the locality.

Sharing about the potential of the Vietnamese market, Kattiya Indaravijaya, CEO of KBank said that Vietnam is a rising star in the Southeast Asia region with high economic growth. The bright prospects of the economy can be attributed to the success in controlling the pandemic thanks to effective policies of the Government of Vietnam along with efforts to promote a cashless society.

According to the World Bank, Vietnam's GDP growth in 2022 is expected to increase by 5.5%. The country has great resilience thanks to the fact that 60% of its population is of working age and digital-savvy.

Kattiya said that KBank aims to be the first foreign bank in Vietnam to offer fully-fledged "digital product solutions" to all customer segments.

KBank currently has an overseas service network covering the AEC 3 countries and beyond, for a total of 16 nations./.