Kasikornbank’s aim to become a bank of sustainability puts it in a strong position at a time when countries and companies around the world, including in Thailand, are bolstering their environmental, social and governance (ESG) standards and credentials.
KBank has a head start, having long realized that to be a banking leader, it needs to be a social leader too. The combination has held it in good stead during ups and downs, and has helped it to win Asiamoney’s best bank award for Thailand in 2023.
Under the leadership of CEO Kattiya Indaravijaya, KBank gave priority last year to ESG, digital evolution, and reimagining commercial and consumer lending to cater better to clients. This meant it provided sustainable financing and investments worth over Bt26 billion ($750 million) last year, and it has set a target of Bt100 billion to Bt200 billion in sustainable funding by 2030. It lent to more than 588,000 low-income customers, giving them access to financing, and put project financing and loans to corporate customers through a rigorous ESG assessment process.
In terms of its digital services, KBank has a strong reach: its mobile platform is among the most used in Thailand.