Thanks to robust demand for corporate loans.
KasikornBank (KBank) opens the financial year on the back of a better-than-expected performance as its total revenue rose 8% YoY to $787.26m (THB24.88b) in 2017 thanks to large demand for corporate loans.
According to a media release, corporate loans rose 12% YoY to $18.14b (THB573.52b) thanks to massive infrastructure development and property projects in the pipeline.
KBank also reported increased number of e-transactions with the users using their electronic banking service and electronic international trade service rising 60% and 20% respectively as the bank made it a point to abide by the government’s National e-Payment Master Plan.
“Obviously, customers are increasingly relying on electronic system in 2018 thanks to data connectivity, convenience and service efficiency. Retail clients have been shifting to mobile transactions via K PLUS or QR code. Amid the coming cashless society, large corporations are going to adopt new technologies to accommodate customer demand, increase sales and embrace new business opportunities,” the press release added.
Amidst projections of stronger economic activity, KBank expects corporate business performance to sustain its upward trajectory and meet growth targets of 6-8% YoY and 2-5% YoY for total loans and fee income respectively.
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