8 September 2020
Bangkok (8 September 2020) – Krungsri (Bank of Ayudhya Public Company Limited), a member of Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups, announced that Hattha Kaksekar Limited, Krungsri’s wholly-owned leading deposit-taking microfinance institution in Cambodia, has successfully achieved regulatory approvals to become a commercial bank under the name of Hattha Bank Plc.
The development marks another key milestone in Krungsri’s journey to pursue regional business expansion and capture growth opportunities in CLMV countries by leveraging local expertise and physical presence together with Krungsri’s established business platform and extensive networks.
Krungsri President and Chief Executive Officer, Mr. Seiichiro Akita, said “We are pleased to announce that, after successfully obtaining all regulatory approvals, Hattha Kaksekar Limited has now become Hattha Bank Plc. With the new status, Hattha Bank is eligible to deliver most excellent financial products and services to better meet diverse demands of clients in Cambodia through its financial innovation and inclusion. Meanwhile, Krungsri will continue to support Hattha Bank through sharing banking business best practices, marketing expertise, product development, sales channel enhancement, and risk management. Taking Hattha Bank to the next level, Krungsri’s business know-how and robust operating and governance platforms will add a great value in Hattha Bank’s solid fundamentals of local market insights and competitive edges, as well as its strong foothold in Cambodia and highly-capable personnel.”
“We believe that, through the synergy of Krungsri’s distinctive financial expertise and Hattha Bank’s local business know-how and experience, Hattha Bank will play an important role in driving the Cambodian economy toward a sustainable growth path, while providing its people with access to quality financial products and services,” Mr. Akita added.
Hattha Bank Plc. (formerly named Hattha Kaksekar Ltd. - HKL) has been providing financial services to people in Cambodia for over 26 years. It became a part of Krungsri Group family after Krungsri concluded the acquisition of HKL in 2016. The progress underscored Krungsri’s concrete and accelerated step forward to becoming an ASEAN financial powerhouse.