Thailand’s KBank joins hands with Vietnam’s Agribank toward AEC

BANGKOK, March 19 (TNA) - Executive Vice President of Bangkok-based Kasikorn Bank or KBank Songpol Chivapanyaroj announced Monday that KBank has formed a business alliance with Vietnam’s state-owned Agribank, as part of Thailand's preparations for the establishment of the ASEAN Economic Community (AEC) by 2015, with free flows of business transactions in the region. Under the business alliance, Thailand's KBank and Vietnam's Agribank will jointly provide financial services and loans, as well as will jointly offer business consultations and organize activities for clients in Vietnam. Meanwhile, the KBank executive pointed out that investment of Thai business operators in Vietnam has kept growing, mostly in the manufacturing sector covering construction materials, food and energy, with two-way trade between Thailand and Vietnam exceeding 9 billion US dollars in 2011, or a 25.47 per cent year-on-year increase. (TNA)