Krung Thai Bank aims big

Market position: A pedestrian walks past KTB’s headquarters in Bangkok. With a valuation of US6.8bil, KTB ranks fourth among Thai lenders and 15th among South-East Asian banks. — Bloomberg

SINGAPORE: Krung Thai Bank Pcl (KTB), Thailand’s second-largest lender by assets, is cleaning up its balance sheet and preparing to make acquisitions in a bid to join the ranks of the biggest South-East Asian banks.

After making large provisions last year for Thailand’s largest default since the 1997 Asian economic crisis, Bangkok-based KTB is boosting profits and positioning itself to buy another Thai bank, according to chief executive officer Vorapak Tanyawong.