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KBank and Line team up on venture for personal loans

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KBank and Line team up on venture for personal loans

By ASINA PORNWASIN 
THE NATION

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Ariya Banomyong, managing director of Line Thailand, centre, and Patchara Samalapa, president of Kasikornbank, right, say the joint venture has the business goal of acquiring new customers.

GIANT social media app Line and Kasikornbank (KBank) yesterday joined hands to launch Kasikorn Line Company, a joint-venture offering personalised unsecured personal loans to Line’s 44 million users in the Kingdom.

The joint venture involves Kasikorn Vision (KVision) and Line Financial Asia. This is the third company involving Line in a joint venture with local bankers, following companies in Japan and Indonesia. 

Patchara Samalapa, president of Kasikorn Bank, said that this move will use social banking to disrupt the traditional banking business. Currently, the Bank can claim Bt20 billion of Thailand’s Bt500 billion total market of unsecured personal loans.

Credit, Read more: http://www.nationmultimedia.com/detail/Corporate/30360285

-- The Nation 2018-12-13

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