Krungthai Bank (KTB) has set its sights on payments, local banking partners and suitable financial products and services as strategies for its international business under the upcoming single regional market.
The Greater Mekong Subregion markets of Cambodia, Laos, Myanmar and Vietnam will be the focus for KTB's international banking operations, first senior executive vice-president Kittiya Todhanakasem said yesterday.
She listed remittances to those countries' citizens working in Thailand as one of KTB's more important payment services.
The country's second-largest lender by assets also provides fund transfers to Laos and Myanmar.
That service, in collaboration with local banking partners, is offered through KTB's Vientiane branch and its representative office in Yangon.
It has also entered into a cooperation agreement with Banque pour le Commerce Exterieur Lao in the areas of payments and debt collection.
KTB branches along the Thai-Laotian border also offer retail loans and credit-card products via its subsidiary Krungthai Card Plc.
In Vietnam, KTB is seeking local banks to serve as partners.
Entering into local partnerships means the bank will not need to open branches in other Asean members, Mrs Kittiya said.
She said KTB planned to rekindle its cooperation with its Cambodian partner to tap growth opportunities stemming from the Asean Economic Community (AEC), which is set to kick off late this year.
Acleda Bank has been KTB's long-time partner in Cambodia, but their collaboration became inactive amid the border tensions of recent years.
KTB has a branch in Phnom Penh and sub-branch in Siem Reap.
"With the greater business opportunities expected under the AEC, we plan to offer transactional banking services spanning the region's emerging markets," Mrs Kittiya said.
"This will be aimed at helping to improve the regional payment system."
KTB shares closed yesterday on the Stock Exchange of Thailand at 22.30 baht, unchanged, in trade worth 420 million baht.