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Phnom Penh, 16 January
2024 - Krungsri (Bank of Ayudhya PCL and its
business units), the fifth
largest financial group in Thailand and a member of MUFG, one of the world’s
largest financial groups, has announced the new credit line of $300 million to
Hattha Bank, a wholly-owned subsidiary of Krungsri and one of the top five
commercial banks in Cambodia, to support its business operations. On top of the
existing credit line from its parents, Hattha Bank has received nearly $500
million in total.
This financing is not only a further testament to Krungsri’s
commitment to becoming a prominent financial entity in the ASEAN, but it also enables
Hattha Bank to extend its business operations to target customers in Cambodia,
particularly in micro, small, and medium enterprises in sectors such as
agriculture, agro-industry, service, and trading, where there is a need for
capital to support operations and expansion efforts during the outlook of elevated global economic uncertainty.
Kenichi Yamato, Krungsri President and CEO, said, “Our strategic credit line extension
to Hattha Bank, one of the key players in our ASEAN portfolio, aligns with our
commitment to supporting Hattha Bank in serving the evolving
financial needs of customers in Cambodia and reaffirming our position as
a regional bank.
We believe that, through the synergy
of Krungsri’s distinctive financial expertise and Hattha Bank’s local business
experience, Hattha Bank will drive the Cambodian economy toward a sustainable
growth.”
Oknha Hout Ieng Tong, President and CEO of Hattha Bank, emphasized the significance
of this additional financing, stating, "With the new addition of credit
line, a total of almost $500 million facility from Krungsri is crucial as it
enhances our bank's ability [Hattha Bank] to grow our assets and also to align
our business operations with our business plan." He further highlighted
that the amount of credit line underscores the ambition of Krungsri, the fifth
largest commercial bank in Thailand and a member of MUFG, to expand its
business operations and presence in the ASEAN region.
Hattha Bank enjoys strong support from its customers, the
public, and various competent authorities, with Krungsri playing a key role in
mobilizing great confidence to Hattha Bank. Hattha Bank remains committed to
executing the right strategies effectively to achieve its vision of becoming
the preferred choice for customers in Cambodia for their daily financial and
business needs.
About Hattha
Bank:
Hattha Bank, a commercial bank with a presence in
Cambodia for nearly 30 years, offers a comprehensive array of financial
services to its customers. In the 4th quarter of 2023, Hattha Bank
holds the position of the 4th largest commercial bank
based on its operational offices. Additionally, Hattha Bank has successfully
maintained its strong standing both loan balances and deposit balances among
the top eight banks in Cambodia. Hattha Bank operates as a subsidiary of Krungsri
Bank, the 5th largest financial consortium in Thailand with a 78-year history.
Krungsri holds a strategic position within the MUFG, the largest financial
group in Japan and one of the largest globally.
About Krungsri
Krungsri (Bank of Ayudhya PCL and its
group companies) is the fifth largest financial group in Thailand in terms of
assets, loans, and deposits, and one of Thailand’s six Domestic Systemically
Important Banks
(D-SIBs) with 78 years of history in the country. Krungsri is a strategic
member of the Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial
group and one of the world’s largest financial organizations. Krungsri provides
a comprehensive range of banking, consumer finance, investment, asset
management, and other financial products and services to individual consumers,
SMEs, and large corporations through 599 domestic branches (559 Banking
Branches and 40 Auto Business Branches) and over 34,072 service outlets
nationwide. The Krungsri Group is the largest card issuer in Thailand with 10.2
million credit cards, sales finance, and personal loan accounts in its
portfolio; a major automobile financing service provider (Krungsri Auto); one
of the fastest growing asset management companies (Krungsri Asset Management);
and a pioneer in microfinance (Ngern Tid Lor).
