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Kasikornbank Public Co. Ltd. NVDRKasikornbank Public Co. Ltd. NVDRKasikornbank Public Co. Ltd. NVDR

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KBANK.R trade ideas

Kbank Offers Shopee An E-Commerce Digital LoanOn Wednesday, Thailand’s second-largest lender, Kasirkonbank Pcl (Kbank) will start giving digital loans. They will be giving to sellers on Sea Ltd’s e-commerce business Shopee. Shopee is Kbank’s latest digital partnership. The linkup will be giving online sellers further access to loans of up to 600,000 baht ($19,570). Moreover, Kbank President Patchara Samalapa will be giving a piece of advice and training. The coaching is about handling and obtaining loans without submitting physical documents. He said also said, “We will serve online sellers who want to equip themselves and expand their business.” Meanwhile, Thai bank earnings have been under pressure. The weight was from a digital transaction fee waiver last year and slowing loan growth. In the second quarter to end-June, Kbank’s non-interest income declined 16% to 13.6 billion baht. On the flip side, loans rose 3.8% after Southeast Asia’s second-largest economy increased just 2.3% over the period. This was its weakest annual pace in nearly five years. A simplified process will let sellers focus on increasing their businesses. The process will go on without upsetting the administrative procedure of obtaining loans. The information was according to Shopee’s Chief Operating Officer Terence Peng. The Shopee platform in Thailand features major brands and around 750,000 individual retailers. According to government data, Thai banks have turned to Thailand’s booming e-commerce sector. It is to expand digital lending, which doubled to 334.2 billion baht in 2017. Last month, competing lender Siam Commercial Bank Pcl also broadcasted a partnership to develop digital loans with Sea’s Thai unit. Last year, Kbank capitalized $50 million in the ride-hailing firm, Grab. In July this year, it introduced to merchants and Grab driver some personal loans. In addition, the firm has to hire purchase and small business financing products. Shopee’s New Regional HQ In Kent Ridge Kbank: A night view of Kasikorn BankElsewhere, Shopee has opened its new six-storey regional headquarters in Kent Ridge recently. This is in a move that promises well for Singapore’s push in the digital economy sector. Since its launch in 2015, Shopee, which is owned by the customer internet firm Sea, has developed into one of South-east Asia’s leading e-commerce platforms. Shopee is operating in seven places including Singapore, Thailand, Malaysia, and Vietnam. In the second quarter of this year, the platform reached 246.3 million orders regionally. The platform also recorded a gross merchandise measure of US$3.8 billion (S$5.3 billion). Deputy Prime Minister Heng Swee Keat, who officiated the opening, indicated Shopee’s growth is affiliated with Singapore’s plans. Moreover, it was for growing the economy and locating itself as a hub to harness the potential of the growing digital economy. Prime Minister Heng Swee Keat stated, “The rise of South-east Asian with Asian economies bring opportunities, and we should position Singapore well to harness them.” In addition, “We have to constantly strive to ensure companies such as Shopee, doing business across the region, will persist in seeing Singapore as an ideal base for serving the region,” he said. Mr. Heng also spoke with regards to efforts of building up Singapore’s value to the business economy. He also mentioned ongoing plans for a pathfinder Digital Economy Partnership Agreement with Chile and New Zealand. The collaboration is with Australia about digital economy initiatives and investments in research and development in the services and digital economy domain.
SET:KBANK
by Financebroker