The Nation also reported that in order to generate good margins, the bank is adjusting its mindset towards fund mobilization.
"Deposits today cannot beat inflation. We must find funds from other sources and funds from the capital market and wealth management are our focus," The Nation quoted Tawatchai Sudtikitpisan, president and CEO of Kiatnakin Bank as saying.
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The bank further said that they would not compete with universal banks that emphasize assets growth and would rather find profitability in expanding products and services in the capital market.
While Kiatnakin Bank is interested in the wealth management business as most of its customers are regarded as wealthy, Phatra’s network is interested since it can support this area.
Additionally, market volatility has also convinced the wealthy customers to find reasonable returns for themselves.
The Nation also added that the mass and mass affluent customers would be served by bank branches, while HNW clients would be cared for by Phatra.
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By GlobalDataThe group also plans to reveal its business direction after reporting its third-quarter results to the Stock Exchange of Thailand.
