142 Kasikornbank (KBank) of Thailand has laid out an ambitious strategy to bolster its performance, with a particular focus on expanding its wealth advisory business and boosting fee income. The bank’s three-point strategy, dubbed ‘Strategy 3+1,’ aims to drive loan growth, enhance lending products, and increase adoption of its KPLUS platform over the next few years. In a significant move, KBank is set to establish KASIKORN INVESTURE CO., LTD., a subsidiary geared towards developing regional business solutions beyond traditional banking services. The bank anticipates that this venture will contribute up to 5% of its net profit within the next five years. Under the first strategic priority, KBank plans to revamp its credit products and services through end-to-end transformation. This entails closer collaboration with creditworthy customers, offering tailored solutions, and implementing proactive customer retention initiatives. The second priority involves expanding KBank’s fee income businesses, particularly its wealth advisory services. The bank aims to provide comprehensive wealth management solutions tailored to customers’ needs at various life stages. Partnering with KAsset, KBank plans to augment its investment product offerings, including mutual funds and bancassurance. The bank targets a significant increase in mutual fund assets under management (AUM) by 2026. KBank’s third priority is to fortify its distribution platforms and explore new channels to expand its user base. The bank aims to grow its KPLUS user numbers by 20% to 30% by 2026, building on its leading position in the Thai market. As of the end of 2023, KBank boasted 21.7 million KPLUS users. In summary, KBank’s strategic initiatives underscore its commitment to diversifying revenue streams, enhancing customer offerings, and maintaining its competitive edge in the dynamic banking landscape of Thailand. You Might Be Interested In PACCAR Acknowledges Outstanding Suppliers in North America Citigroup Initiates Major Overhaul, Eliminating Over 300 Senior Management Roles Tesla Introducing the New Model 3 Performance Lumen Secures $73.6 Million Contract with U.S. Government Accountability Office US Judge Rules HCA Healthcare Must Face Antitrust Case Regarding Health Costs