Thai’s KBank presses ahead with 2019 loan growth target of 5-7%

In the recently announced 2019 business plans, KASIKORNBANK (KBank) will press ahead to become the “Customers’ Life Platform of Choice” by using K PLUS to introduce financial and lifestyle services that suit individual clients. KBank’s financial and IT capabilities will be further enhanced through using data for decision making and steering business toward becoming a “Bank of Sustainability. The Bank has set 2019 loan growth target of 5-7%

Mr. Banthoon Lamsam, Chairman of the Board of KBank, said that the Thai economy will likely post steady growth in 2019. Despite sagging demand abroad, domestic spending, buoyed by both public and private investments, may play a more important role in bolstering the Thai economic performance. It is expected the Thai GDP growth will reach 4.3 percent in 2019, which would be lower than the 4.6 percent pace projected for 2018 due to the slowdown in the export sector and tourism caused by the high 2018 base and the protracted US-China trade dispute that may dampen the global trade overall. Major drivers for the Thai economy in 2019 may include steady public infrastructure investment and the scheduled general election that will likely help reinvigorate investment climate overall while Thailand’s interest rates will be on the upward trend amid lofty household debt.

Amid numerous challenges, KBank’s 2019 business operations will continue to focus on our “Customer Centricity” philosophy. With this mantra, we will press ahead with the “Customers’ Life Platform of Choice” strategy by using K PLUS, which has the highest number of users of any mobile banking applications in the country, to introduce financial and lifestyle services to meet the needs of individual customers. Our financial and IT capabilities will be enhanced further to allow KBank to be more responsive to every situation and become a data-driven bank, thus paving the way toward being a “Bank of Sustainability”.