Kasikornbank Weighs Bid for Citigroup’s Thai Retail Business
- Nation’s second-biggest bank joins DBS in expressing interest
- Acquisitions and regional expansion are key for Kasikornbank
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Thailand’s second-biggest lender is considering a bid for Citigroup Inc.’s retail assets in the country to expand its wealth management, consumer lending and credit card businesses.
Kasikornbank Pcl is interested in the U.S. lender’s business in Southeast Asia’s second-biggest economy and will study the details as soon as the process is open, Chief Executive Officer Kattiya Indaravijaya said in a recent phone interview. “Citigroup’s retail business here has a very large and good customer base.”