Customers use ATMs at a branch of Kasikornbank at Seacon Square in the Srinakarin area in Prawet district of Bangkok on Feb 23, 2022. (Photo: Somchai Poomlard)
One of the country’s largest banks bought a $220 million majority stake in Indonesia’s Bank Maspion on Monday.
The deal will give Kasikornbank (Kbank), the kingdom’s second-largest lender by assets, 67.5% of Maspion’s shares and is expected to be finalised by the end of the year, the Thai lender said in a message to the Stock Exchange of Thailand.
It comes as the country looks for investment abroad with the local economy stagnating under low interest rates and burdensome household debt.
Indonesia — the region’s biggest economy — is a particular target, with the largest…
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