Jakarta: Kasikornbank launched KBank Indonesia and secured an AA+(idn) credit rating from Fitch Rating, reinforcing its financial strength in ASEAN.
According to Thai News Agency, Kasikornbank (KBank) announced the official establishment of Kasikornbank Indonesia (KBank Indonesia) today. Mr. Rungrueang Sukkerdkitpibul, President of Kasikornbank, along with senior executives, attended the official opening ceremony at the bank's headquarters in Jakarta, Indonesia. This establishment reflects the bank's continued strategic role in becoming a regional bank and is accompanied by a credit rating of AA+(idn) from Fitch Ratings Indonesia, reflecting its long-term growth potential.
Indonesia is considered one of the countries with the highest growth potential in the ASEAN region, with a population of over 285 million and a projected economic growth rate of an average of 5% per year until 2030. This growth is driven by several sectors, including manufacturing, consumer goods, digital services, and infrastructure investment. These factors enable Indonesia to play a significant role in regional trade, investment, and supply chain connectivity.
The establishment of KBank Indonesia builds upon the strengths of Kasikornbank's regional business network, serving as a bridge to seamlessly connect businesses to cross-border trade and investment opportunities. This includes connecting partner networks, enhancing expertise in local markets, and upgrading the capabilities of providing more comprehensive financial services. The goal is to support both Thai and foreign investors in expanding their businesses regionally and growing sustainably alongside the ASEAN economy.