Thailand's Kasikornbank to open rep office in Myanmar

Kasikornbank has received a license to open a representative office in Myanmar.

It aims to use the office, to be located in Yangon, as a one-stop service centre for trade and investment information, as well as advice on beneficial business networks via allied banks in Myanmar.

"The One-stop service will be the focus of the new office, wherein we will be developing products and services tailored to meet customer requirements. Business customers will be supported with advice on marketing, trade and investment, as well as introduction to important networks. One valuable service will be business matching, which can aid greatly in finding appropriate business partners to facilitate successful business operations in Myanmar, through close cooperation with KBank Head Office and allied banks in Myanmar," said Somkiat Sirichatchai, KBank senior executive vice president.

He noted that there has been enthusiasm among Thai businesses to invest in Myanmar, which is now one of the most noteworthy market in Asia. With this new potential, KBank wants to be ready to support business customers with international trade facilities there, as well as other investment, in advance of AEC integration in 2015.

Kasikornbank becomes the third Thai bank to open a representative office in Myanmar, after Bangkok Bank and Siam Commercial Bank.

Alliance has been forged between KBank and 32 banks in Cambodia, Korea, China, Japan, Laos, Vietnam, Singapore, Indonesia, and most recently, Myanmar. Further move will be taken to enhance the banking network with other nine ASEAN nations soon, Somkiat added.

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