Thai Kasikornbank Eyes Regional Expansion, Plans 2nd Branch in Laos

Like other major Thai banks, Kasikornbank is looking to expand its business in fast-growing economies in Southeast Asia to help offset a slowdown in the domestic market.

Kasikornbank is aiming at a loan growth of 4-6 percent in 2017 — assuming the Thai economy would grow 3.3 percent next year — and expected its non-performing loans to make up 3.3-3.4 percent of total loans, Kattiya said.

In the first nine months, the bank’s loans grew 5 percent, versus a target of 6-7 percent for the whole of 2016, she said.

The bank targets loan growth from retail clients at 5-7 percent next year when the number of it retail customers is expected to rise to 14.1 million, up 5-6 percent on year, the bank’s president said.

Loan growth for large companies and small to medium sized firms is targeted at 4-6 percent next year, she said.

Kasikornbank aimed to spend 4 billion baht on developing information technology (IT) next year to maintain its leading position in digital banking, the bank’s president in charge of IT, Teeranun Srihong, said.