KBank signs MOU with Macquarie Group to enhance financial services

BANGKOK, February 11 (TNA) - Bangkok-based Kasikornbank Public Company Limited (KBank) has signed a memorandum of understanding (MOU) with Australia-based Macquarie Group to enhance its financial services, as part of its preparations for the formation of the ASEAN Economic Community (AEC) by 2015. KBank President and Chief Executive Officer (CEO) Ban-thoon Lam-sam said that the partnership will allow KBank to offer more efficient financial services to clients and to invest more freely in the 10-member Association of Southeast Asian Nations (ASEAN), as well as to compete with other international financial institutions. Banthoon insisted, however, that his KBank has no plan to merge with any other financial institution. (TNA)