Kasikornbank Explores Billion-Dollar Deal: Thailand’s second-largest bank is Kasikornbank. It is in talks to buy Kasikornbank from Home Credit Vietnam, a well-known consumer credit provider. This potential billion-dollar contract suggests that the bank intends to expand in Vietnam, a country with many economic opportunities. Kasikornbank intends to be one of Vietnam’s top 20 asset-holders by 2027, and this transaction helps. Refinitiv data shows that the bank’s $119.7 billion total assets, second only to Bangkok Bank in Thailand, help it achieve this aim. The bank’s wealth aids this purpose.
Vietnamese banks face challenges during these incidents. An economic recession and real estate issues have increased loan defaults and lowered interest rates. Because of this, Vietnamese banks have many issues.
This proposed transaction is similar to Asian financial market mergers in recent years. One of Vietnam’s major financial mergers and acquisitions this year was Sumitomo Mitsui‘s $1.5 billion purchase of Vietnam Prosperity Joint Stock Commercial Bank. It would be one of Vietnam’s biggest financial mergers and acquisitions this year.
Kasikornbank has employed several financial specialists to evaluate this deal, but conversations are still ongoing and no decision has been reached. The bank is currently working on several projects. Selected projects include KBank Biz Loan. Small retailers can acquire loans through this approach. Merging with Home Credit could give small businesses more financial services, helping them succeed in a competitive market.
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Vietnam is drawing more working-age individuals, making it an attractive area for business opportunities. In a country with over 100 million people, 69% lack financial facilities. This market has development potential. Kasikornbank recently received official approval to boost its core capital for its Vietnam operation. This was granted because Kasikornbank had just received official authorisation. The bank became the second largest foreign financial firm branch in the US as a result.
As the concept comes together, the bank has ambitious aims. The bank targets $5.13 billion in loans and 8.4 million customers by 2027. It also seeks $400 million in net income that year.
However, Home Credit Vietnam, part of the Home Credit Group and based in the Netherlands, began operating in Southeast Asia in 2008. Home Credit Vietnam is a Home Credit Group enterprise. Over time, the business has grown to 6,000 employees serving 12 million clients. The company offers cash and installment loans for consumer durables and motorcycles, among other financial products. These loans are available through 9,000 stores around Vietnam.
In the first half of 2022, PPF Investment Company of the Czech Republic, which controlled Home Credit, suffered a larger loss. Home Credit was in charge then. The loss from selling its Russian interests caused most of this company’s financial issues. This highlights how hard the global economy is on financial firms.
Our Reader’s Queries
Who owns Kasikorn Bank Thailand?
Here are the top 10 major shareholders of KASIKORNBANK PUBLIC COMPANY LIMITED, along with the number of common shares they hold. The list includes THAI NVD?R CO., LTD. with 341,879,002 shares, followed by STATE STREET EUROPE LIMITED with 205,192,417 shares and SOUTH EAST ASIA UK (TYPE C) NOMINEES LIMITED with 126,768,894 shares. THE BANK OF NEW YORK MELLON also holds a significant number of shares with 81,534,875.
What is the dividend yield of KBank?
Kasikornbank is a company that pays dividends, currently yielding at 3.07%. The earnings of the company cover the dividends well.
What is the total assets of Kasikorn Bank?
By the end of 2022, KBank and its subsidiaries had amassed a total of Baht 4,246,369 Million in assets, marking a 3.48% increase of Baht 142,970 Million from the previous year.
What is the swift code for Kasikorn Bank Thailand?
The SWIFT code for KASIKORNBANK PUBLIC COMPANY LIMITED is KASITHBKXXX, with 8 characters. The branch name is also KASIKORNBANK PUBLIC COMPANY LIMITED, located at 400/22, PHAHON YOTHIN BUILDING, PHAHON YOTHIN ROAD, SAM SEN NAI, PHAYA THAI. The branch code is also provided, but we won’t go into that here.