Mr. Seiichiro Akita, Krungsri President and Chief Executive Officer said "Krungsri would like to express our appreciation to high net worth and institutional investors for their overwhelming interest in subscription of Subordinated Notes intended to qualify as Tier 2 Capital, or Basel III Tier 2 Notes, which has enabled the Bank to achieve the target issue size. This reflects investors' confidence toward the Bank in terms of financial strength and growth opportunities resulting from its business expansion plan."
Krungsri offered and issued the 10-year "Basel III Tier 2 Notes" with the yield of 4.30% per year to high net worth and institutional investors between November 3 - 16, 2022 and on November 17,2022 respectively. The subordinated instrument received a AA(tha) credit rating from Fitch Ratings (Thailand) Co., Ltd. on September 8, 2022, reflecting strength of the Bank as the fifth largest financial group in the Thai economy by asset value, loans, and deposits, and as one of the Domestic Systemically Important Banks (D-SIBs).
Krungsri is a financial institution under the Mitsubishi UFJ Financial Group (MUFG), Japan's largest financial group and one of the largest financial groups in the world. MUFG has a global network of over 2,400 offices in more than 50 countries around the world. Recently, Krungsri received a ESG100 Certificate, which recognized Krungsri as one of the top 100 listed companies with outstanding environmental, social, and governance (ESG) performance out of 851 listed companies in the Stock Exchange of Thailand (SET). Krungsri has been on the ESG100 list for 7th consecutive years, a recognition which reflects the Bank's commitment to integrating ESG mandates into business strategies for sustainable banking.
"We have committed to maintaining our leadership in sustainable finance by bringing expertise and knowledge from MUFG to the business and encouraging ESG business operations to offer products and services which support customers' sustainable growth. Krungsri is determined to be the leader of financial innovation and technology development by leveraging our network and MUFG's world class technology investment to connect with bank partners across ASEAN. This also includes connecting with business partners who are leaders in smart financial infrastructure and domestic and international commercial platforms as we continue to drive Thailand's digital economy," said Mr. Akita.
Source: i2C Communications