KBank will recruit fewer employees

KBank will recruit fewer employees

Kasikornbank (KBank) is likely to halve the number of new recruits next year as it shifts its focus to digital banking and has no plan to open new branches.

Together with staff leaving, the number of employees at the country's fourth-largest lender by assets is expected to remain at 20,000 next year, executive vice-president Krit Jitjang said.

KBank has recruited about 5,000 employees this year.

No new branches will open in 2015, as the existing 1,100 nationwide are considered sufficient to meet customer needs, Mr Krit said.

He said KBank would focus more on digital banking instead.

New staff for risk management and international banking were still required to support back office operations ahead of the start of the Asean Economic Community (AEC) late next year.

"We need to attract more foreign staff to our international branches amid greater competition expected under the AEC," Mr Krit said.

"Our human resource development policy and the training programme at our headquarters here in Thailand are our strengths in attracting foreigners."

The bank now has 400 foreign employees, half of them Chinese, as KBank has four branches, a subbranch and three representative offices in that country.

KBank recently opened a branch in Vientiane and plans to open one in Cambodia next year.

It has 11 international branches and representative offices in total.

KBANK shares closed Tuesday on the Stock Exchange of Thailand at 242 baht, up three baht, in heavy trade worth 1.53 billion baht.

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