KBank sets a target of reaching 6,000 billion Vietnamese dong
in deposits in Vietnam in 2024.
Ho Chi Minh city, March 11 2024 – KBank aims to achieve a ambitious target of 6,000 billion VND in deposits in Vietnam, emphasizing the bank's steadfast commitment to serving the financial needs of Vietnamese customers amid the ever-changing global economic landscape. Through seamless integration of digital solutions and secure saving methods, KBank focuses on establishing trust and enhancing customer satisfaction, solidifying its position as a globally trusted financial institution, as attested by reputable credit rating agencies such as Moody's Investor Service, S&P, and Fitch Ratings.
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Setting Ambitious Goals Presents a Challenge, but Achievable with KBank
Going beyond mere secure saving, the bank has successfully attracted a significant customer base by offering enticing benefits. The outstanding growth chart, with total deposits reaching nearly 600 billion VND by 2023, is clear evidence of KBank's success. This figure has increased more than 50 times since the bank implemented its savings deposit policy in 2022. KBank continued to reach the milestone of one million users on the K PLUS Vietnam platform in 2023, affirming the bank's credibility within just two years of operation with a single branch, paving the way for the goal of reaching 3.25 million users by 2024. KBank Vietnam is committed to continuously improving and providing robust financial solutions to customers, creating an excellent experience for the community.
Since its founding in 1945, KBank has become one of Thailand's largest banks, successfully expanding into Vietnam. With over 23 million customers in Thailand, they hold 1.863billion VND in deposits by 2023, capturing a market share of about 16.59%. The success is attested by numerous awards and recognitions at home and abroad as recently as last year, such as The Best Retail Banking in Thailand for the 14th Consecutive Year, Bank Quality Ranking - Most Selected Main Bank in Thailand, Thailand’s Most Admired Brand: Mobile Banking, etc. Strategically, KBank aims to continue the excellent legacy via its branch in Vietnam.
Stabilizing customers' deposits while maximizing security measures to the fullest extent.
Vietnamese citizens have traditionally approached financial stability through diligent saving practices. The pros of this approach lie in the creation of a safety net, ensuring individuals have resources to navigate tough times. In an environment where people are cautious about spending and reluctant to engage in riskier investments, KBank Vietnam prioritizes security saving by emphasizing the safety and stability of deposits. KBank aims to address the prevailing concerns of the populace and establish itself as a trusted financial partner in the face of economic fluctuations.
Statistics from the State Bank of Vietnam as of November 2023 reveal a remarkable surge in bank deposits, reaching a record high of 12.8 million trillion VND. Concurrently, over 30 banks have lowered their deposit interest rates amid the global financial downturn and ongoing crises in Vietnam. Mr. Chat Luangarpa, Executive Vice President of KASIKORNBANK, emphasized, “In light of the challenges posed by the global economic uncertainties, and with the anticipation of persistently low banking rates, KBank remains steadfast in its commitment to providing attractive rates for savers. Our ambitious and empowering approach not only addresses the financial uncertainties but also positions KBank as a reliable and trustworthy banking partner for the savings of the Vietnamese people.” Understanding the pain points associated with the current sentiment, coupled with the potential risks of fraud, KBank Vietnam is resolute in offering a suite of digital products and services that not only foster the growth of customer’s money but also prioritize a level of security customers can trust.
About K PLUS Vietnam
Driven by “Customer First” philosophy, KBank has launched K PLUS Vietnam, its flagship mobile application which is designed to serve all customer’s needs. Easy onboarding, user friendliness, and superior security, are integral parts of the seamless financial experience provided on the app.
Notably, “KBank Deposit”, one of the key products allowing customers to enjoy secured savings with attractive interest rates as well as other benefits.
