Krungsri's Hattha Bank clears regulatory hurdle

Krungsri's Hattha Bank clears regulatory hurdle

Krungsri president and chief executive officer, Mr. Seiichiro Akita. *No photo credit*
Krungsri president and chief executive officer, Mr. Seiichiro Akita. *No photo credit*

Bank of Ayudhya Plc (Krungsri), a member of Mitsubishi UFJ Financial Group, announced that Hattha Kaksekar Ltd, Krungsri's wholly owned deposit-taking microfinance institution in Cambodia, has successfully achieved regulatory approval to become a commercial bank under the name Hattha Bank Plc.

"We are pleased to announce that after successfully obtaining all regulatory approvals, Hattha Kaksekar has now become Hattha Bank Plc," Krungsri said. "With the new status, Hattha Bank is eligible to deliver most excellent financial products and services to better meet diverse demands of clients in Cambodia through its financial innovation and inclusion."

Meanwhile, Krungsri will continue to support Hattha Bank through sharing banking business best practices, marketing expertise, product development, sales channel enhancement and risk management.

Krungsri's business know-how and robust operating and governance platforms will add value to Hattha Bank's solid fundamentals of local market insights and competitive edge, as well as its strong foothold in Cambodia and highly capable personnel, said Seiichiro Akita, Krungsri's president and chief executive.

Hattha Bank Plc (formerly Hattha Kaksekar Ltd) has operated in Cambodia for over 26 years. It became a part of Krungsri Group after Krungsri concluded the acquisition Hattha in 2016.


Do you like the content of this article?
COMMENT

Sompong to keep Pheu Thai leadership post

Sompong Amornwiwat is expected to retain the leadership of Pheu Thai, a party source said on Wednesday.

30 Sep 2020

Europe's captive tiger trade 'risks spurring illegal demand'

PARIS: Trade in tigers bred in captivity in Europe risks encouraging illegal demand for the endangered big cats, according to a new report published Wednesday by wildlife groups that warns lax oversight is enabling the grisly market for their body parts.

30 Sep 2020

Sonic boom from fighter jet rattles Paris

PARIS: A thunderous noise that panicked residents of Paris Wednesday was caused by the sonic boom of a fighter jet breaking the sound barrier, police in the French capital said.

30 Sep 2020