Thai banking giant raises charter capital in Vietnam
VOV.VN - The Ho Chi Minh City branch of Thai banking giant Kasikorn Bank (KBank) recently raised its charter capital from US$80 million to US$285 million in Vietnam, representing a 2.5 fold-rise according to the plan approved by the State Bank of Vietnam.
Chat Luangarpa, executive vice president of KBank, revealed that the bank’s decision to increase charter capital aims to meet the high capital demand coming from businesses and retail customers, especially amid the current volatile economy.
KBank has set a loan balance of US$960 million in the country this year. Along with pumping in additional capital, the bank has also set an ambitious goal of expanding in the fields of digital payments and loans.
The bank therefore aims to increase the number of K PLUS Vietnam application users from the current figure of 470,000 to 1.3 million by the end of the year.
By reaching a charter capital scale of US$285 million, KBank has become the foreign bank branch with the second highest charter capital in the nation after Sumitomo Mitsui Bank Hanoi branch.
In Thailand, KBank is also listed among the top three largest banks in terms of total assets, with US$122.9 billion by the end of 2022.
