Thailand’s KBank mulls Indonesia foray via M&A route next year

Kasikornbank (KBANK), the fourth largest bank in Thailand, is working on its feasibility plan to tap into Indonesia through acquisitions next year.

KBANK president Pipit Aneaknithi told the media on Wednesday that it has partnered with two local banks in Indonesia currently, and proposed to set up its own footprint in the Indonesian market.

“We also want to expand into Vietnam and Myanmar in 2018, but Indonesia is our priority because its market size is three times larger than Thai market,” he said.

According to him, the main challenge was that the Indonesian regulators require foreign banks to acquire more than one local bank. Also, in a bid to keep the local banking sector competitive, Indonesia does not allow acquisitions of strong institutions.

However, once the framework of Qualified Asean Banks (QAB) is launched, it can probably be another option for KBANK to enter Indonesian market.

KBank plans to open a physical branch in Cambodia next month and another in Vientiane later this year, he added.

Also read:

Kasikorn Bank invests in Tee Entertainment, Zinco

Thai lender KBANK to launch fintech-focussed fund of funds

Thailand: Standard Chartered plans to exit retail banking

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.