KBank isn't the only Thai bank to make expansion moves overseas. Bangkok Bank acquired Indonesia's PT Bank Permata in May 2020 for $2.3b, whilst Bank of Ayudhya has invested in financial institutions in the Philippines and Vietnam over the past two years. "Substantial regional investments in markets with weaker operating environment may ultimately reflect a greater appetite by Thai banks as well as weighing down their operating environment scores," Fitch said. (US$1 = THB 34.85) ***** You May Also Like: