• Kasikornbank weathered a challenging year for Thailand with a robust financial position and consistent business performance
• Strategic partnerships and ecosystems that the bank built strengthened its digital capabilities
• The bank extended support to its customers to cushion the impact of the COVID-19 outbreak

 

Singapore, 5 June 2020 — Kasikornbank received Best Retail Bank in Thailand at The Asian Banker International Excellence in Retail Financial Awards 2020.

 

Kasikornbank weathered a challenging year for Thailand with a robust financial position and consistent business performance

Despite Thailand’s economic slowdown and contraction in the loan industry, Kasikornbank was able to grow its retail banking revenue as well as maintain a healthy return on equity and cost to income ratio. Its fee income and transaction volumes have also been strong points for the bank, as these have contributed significantly to its income growth. The bank maintained its double-digit market share in retail deposits, credit cards, debit cards and personal loans as well.

 

Strategic partnerships and ecosystems that the bank built strengthened its digital capabilities

In addition to its growing, digitally active customer base, Kasikornbank has advanced its digital transformation journey in 2019 through significant collaborations. The bank partnered with Grab, a leading ride-hailing platform in the region, in introducing GrabPay in Thailand as well as loan products for Grab drivers. The bank is also offering lending to Thai sellers on Lazada’s e-commerce platform. It is one of the collaborators in launching Central JD’s Dolfin wallet as well. In 2020, the bank plans to launch Kasikorn-Line with Line Corporation to offer personal loans and nanofinancin...

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