KASIKORNBANK (KBank) has signed a Memorandum of Understanding with Shizuoka Bank to upgrade international financial services and support Japanese investors expanding into the AEC+3 region, as well as AEC+3 investors wishing to tap into Japan. Under this partnership, both parties are ready to drive sustainable economic growth in the region and reinforce KBank's position as a regional leader in financial services.
Mr. Pipit Aneaknithi, President of KBank, said that the Bank has been consistently implementing its global business strategy, placing strategic importance on collaborating with local partners to enhance services that support customer transactions and businesses in the AEC+3 region. Japan, in particular, is deemed one of Thailand's most significant trading partners and holds the highest investment value in the country. Japanese companies typically expand their investments in steps, starting with the People's Republic of China, followed by Thailand, Vietnam, Indonesia and other ASEAN nations.
Mr. Minoru Yagi, President of Shizuoka Bank, noted that Japan is facing several challenges, including a declining population and an aging society, and Shizuoka Prefecture is no exception. Under its first medium-term management plan, Shizuoka Bank aims to strike a balance between creating social value and enhancing corporate value by addressing key regional issues through the themes of society, economy and the environment. In this context, it is clear that a cross-border perspective and collaboration among increasingly interconnected countries are essential, and this MOU stands as a testament to the shared commitment of the two parties to leverage their strengths and provide better services for the region and customers in both Japan and Thailand. Shizuoka Bank is confident that, by navigating the complexities of global finance and developing this partnership, new opportunities will be unlocked for future success.
KBank and Shizuoka Bank, one of Japan's leading banks, which plays a significant role in supporting the local economy with a branch network covering Shizuoka Prefecture and major cities such as Osaka, Nagoya and Tokyo, have recently expanded their collaboration. The two banks signed an MOU to extend their international financial services through two-way collaboration. This partnership has been forged to integrate the strengths of both financial institutions, with a focus on three key areas: 1) exchange of market and investment insights; 2) development and introduction of innovative financial products and services that meet the evolving needs of business clients in the digital era; and 3) personnel exchange between the two institutions to upgrade service potentiality. The collaboration will ensure that both banks are well-positioned to provide tailored services in response to the needs of partners and businesses, emphasizing support for Japanese investors seeking to expand into the AEC+3 region and for AEC+3 investors, particularly in high-potential nations such as Vietnam, Indonesia and China, looking to enter the Japanese market.
Mr. Pipit added that the collaboration between KBank and Shizuoka Bank has been ongoing since 2011. Over the years, this partnership has assisted more than 100 Japanese companies in establishing businesses in Thailand. Additionally, the two banks have served more than 200 business clients across seven countries and economic zones where KBank has branches, including Thailand, Vietnam, Indonesia, Cambodia, Laos, China and Hong Kong. The cooperation extends to cases where KBank's clients from those countries wish to broaden their investments and business operations in Japan. KBank is therefore confident that this enhanced partnership with Shizuoka Bank will better address the evolving landscape of investment and trade in ASEAN, and drive sustainable economic growth in the region, while reinforcing KBank's commitment to being a leading financial service provider in the AEC+3 region.