Published on Monday, 31 December 2012 08:01
Thailand’s second largest bank, Krung Thai Bank (KTB) is looking to form a joint venture in Myanmar, the Bangkok Post posted on December 25.
The bank was founded in 1966, merged by Agriculture Bank Limited and Mondhon Bank Limited. The govt holds its major share.
KTB has recently opened its representative office in Yangon.
Seeking local partners for joint venture in Myanmar takes more time, but KTB will make progress within next five years, KTB president Vorapak Tanyawong said.
KTB has supported the financial assistance to large Thai companies doing investments in Myanmar, also small and medium-sized businesses in Thai-Myanmar border.
According to the Bangkok Post, Vorapak said “our advantage as a state-owned bank, financial expertise and familiarity with Asean culture will afford KTB smooth access to the business segment.”
Myanmar’s Gross Domestic Product is forecasted to grow double digits year by year, says the Bangkok Post.
KTB will focus on the conglomerate businesses with the govt in Myanmar as well as on the agriculture sector, since the sector contributes to Myanmar’s GDP in large scale.
The bank also plans to open its branch in Ho Chi Minh City next year.
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