Kasikorn Bank
From Wikipedia, the free encyclopedia
Kasikorn Bank Public Company Limited or otherwise known as the Thai Farmers Bank (Simplified Chinese: 泰华农民银行)Swift code KASITHBK was established in 1945 with registered capital of Baht 5 Million and has been listed on the Stock Exchange of Thailand (SET) since 1976. Its chairman is Mr Banyong Lamsam and as of December 31, 2003, the Bank is the fourth largest commercial bank in Thailand as measured by total assets, loans, and deposits. The ethnic Chinese owned Bank, it's Chinese name means (Thai Chinese Farmer's Bank) with registered capital of Baht 26.9 billion and paid up capital of Baht 23.6 billion, had total assets of Baht 820.9 billion, total deposits of Baht 685.2 billion and total loans and accrued interest receivables outstanding of Baht 531.6 billion. The Bank provides a broad range of consumer, commercial, and corporate banking services, including lending, deposit-taking, credit card services, international trade financing, custodian services, asset management, and investment banking services.
As of December 31, 2005, the Bank operated 517 branches, 34 foreign exchange offices and 16 international trade centers throughout Thailand. The Bank branch network extends throughout Thailand’s 76 provinces, as well as internationally with four branches overseas in Hong Kong, Los Angeles, Cayman Islands and Shenzhen and three representative offices in Beijing, Shanghai and Kunming.
As a result of a recent re-engineering process, the Bank has the country’s most advanced computerized retailing services at all branches. With a highly innovative background, the Bank is credited with the introduction of a long line of new banking services in the Kingdom. The bank started the first financial company in Thailand and was the first to issue a national brand credit card. The bank’s ATM network numbers 1,961 nationwide. The Bank has slipped to number 5 in the ATM ranks behind Siam Commercial Bank, Bangkok Bank, Bank of Ayudhya & Krung Thai Bank.
Throughout Thailand new branches, especially in-store and boutique branches, are opening at a great rate. The position is monitored and reported regularly by the Bank of Thailand.
[edit] Events in 2005
- On 30 September 2005, Kasikornbank Plc, the country's fourth largest commercial bank, is consolidating its holdings in five subsidiaries as part of an effort to streamline operations. Executives said yesterday that the consolidation process, which is already under way, would help the bank prepare for future competition, especially after the liberalisation of the sector as it opens to more foreign competition. Once the consolidation is completed, all subsidiaries will be under the Kasikornbank Group. The five units in question are Kasikorn Factoring, Kasikorn Asset Management, Kasikorn Research, Kasikorn Securities and Kasikorn Leasing. The consolidation is also part of an effort to push the bank toward becoming a universal bank offering various financial services to clients within the premises of its bank branches.``The inflow and outflow of global capital without any boundaries, coupled with plans for the implementation of the financial master plan has made us take this decision, Mr Banthoon said. He added that by having ``K-Excellence logos at branches, customers could be assured that they would receive the services they require and would be able to identify the branch as a one-stop service for all their financial needs. To promote the ``K-Excellence concept, the company is preparing a new advertising campaign that will focus on the creation of ``KHeroes. The advertisements will use computer animation to highlight the group's leadership in technology combined with the human touch.
