KBANK is mimicking SCB’s successful expansion into Investment Banking (3 years ago), I’m not too surprised by the move given both banks move from pure depositor-lenders to more universal banks and over the short-mid term I wouldn’t be surprised to see more deals happening in Thailand which could make for an exciting period in the market, then again lets hope things do not get too out of hand.
Corporate banking customers looking to invest locally and abroad are demanding financial advisory services to help them raise funds through the equity and debt capital markets. Having integrated services at a financial house could serve the requirements of these businesses.
KBank has approached veteran financiers from KTB Advisory to supervise the investment banking division.
Panop Ansusinha, who heads the new division, said equity capital from Kasikorn Securities (KSEC) would be transferred to the bank, and KSEC would oversee brokerage services.
Source: The Nation