Bangkok (5 January 2015) -- Krungsri (Bank of Ayudhya PCL), a member of Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest financial groups, today announced the successful integration with The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) Bangkok Branch, the banking entity under MUFG, following one-year of planned preparation and implementation.
Krungsri President and Chief Executive Officer Mr. Noriaki Goto said: “2015 marks an important beginning for us. We are celebrating the inauguration of the New Krungsri following the successful integration with BTMU Bangkok Branch. At the same time, we are also celebrating our 70th anniversary of presence in the Thai banking sector.”
“By leveraging MUFG’s global capabilities and connections in more than 40 countries and more than 1,100 offices worldwide, the New Krungsri aspired to become a leading player with a strong universal banking platform and well-balanced portfolio between retail and commercial lending. The integration with BTMU also provides opportunities to finance the commercial flows of around 4,000 Japanese-owned companies in Thailand, and will allow Krungsri to leverage over 700,000 employees connected to these companies to approach retail and other sectors, and actively enage in new markets. With the combination of global strength and local expertise, Krungsri is in the best position to further strengthening its leadership in consumer finance and expand its market share for corporate and SME banking business.” said Mr. Goto.
“By integrating BTMU Bangkok Branch’s asset of Bht 479 billion, Krungsri total assets of Bht 1,716 billion (as of September 2014) is now comparable to Thailand’s four largest banks. Commercial lending which comprises corporate and SME will account for nearly 60% while retail loans will make up the other 40% of our total loan portfolio,” he added.
To mark the celebration of the New Krungsri, the new Krungsri branch named Bangkok Sathorn Branch was officially opened today (5 January 2015). The Bangkok Sathorn Branch, formerly the BTMU Bangkok Branch, is located at Harindhorn Tower on Sathorn Road.
After the integration, MUFG’s ownership in Krungsri through BTMU increased from 72% to 76.88% as a result of the issuance of 1,281,618,026 common shares by Krungsri to BTMU. Meanwhile, the Ratanarak Group remains a key partner with approximately 20% holding of Krungsri’s shares.