New trade services from Kbank
Kasikornbank has launched a Trade Innovation Service for exporters and importers, who can access it through three channels – trader service centres, specialists and online.
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Kasikornbank yesterday launched new international trade business services, which it says are the first of their kind in the country, with the aim of increasing market share to 25 per cent in that segment over the next few years.
The bank now has a 10-per-cent share of the international trade business. Under the new service that offers Internet-based operations and personal advice, the bank can provide services to customers with more efficiency, Boontuck Wungcharoen, executive vice president of the fourth largest bank, said yesterday. The new service, called Kbank's Trade Innovation, has been developed over several years. Boontuck said the bank recorded international trade volume of Bt1 trillion last year of the country's total volume of Bt10 trillion, with about 7,000 customers. The bank aims to expand its customer base to increase its international trade volume to Bt3 trillion by 2010. "Thailand's exports are predicted to grow well in the future and this is a key factor driving the country's economy, and will also boost the import-export business and international trade," Boontuck said. The bank aims to generate Bt1.3 billion in fee income from international trade business this year, accounting for 10-15 per cent of total fee income, an increase from Bt1 billion last year, he said. Kbank's Trade Innovation service is for import-export customers in several business operations, offering facilities such as the opening of letters of credit and foreign remittances. The service covers three areas, including International Trade Service offices (ITS) that serve as centres for import-export documentation services. This can shorten operational processes from a few days to a few hours. The bank plans to offer ITS at 50 centres by the end of this year from 27 centres presently. It would also offer advisory services through trade specialists who have expertise in international trade services and can provide a wide range of suggestions. The bank experts would act as customers' personal advisers. The last area, K-Trade Connect, is an Internet-based international trade service. Speaking on the bank's performance this year, Boontuck said loans for corporations, and small and medium enterprises in the first four months grew by only 1 per cent, way off the full-year target of 16 per cent. The poor loan expansion is mainly the result of the slowdown in the economy. Kbank, however, plans to maintain its loan-growth target for the year. Somruedi Banchongduang The Nation
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