Kasikornbank <\/strong><\/span>supports financial service providers for retail customers, helping small individuals access a wider range of financial services <\/strong><\/span>by investing in Turbo Money Co., Ltd. ('Turbo Money') <\/strong><\/span>with an acquisition of 11.111 million shares, representing approximately 10% ownership, strengthening Turbo Money's position <\/strong><\/span>to advance its retail loan business, digital loans, life insurance, and property insurance brokerage services.<\/span> This aims to enhance access to financial services for small individuals in the community. Turbo Money is distinguished by its strong growth, solid foundation, and the application of technology in its operations, enabling quick approvals so that customers can receive funds within the same day. Turbo Money aims to expand its branches to at least 1,000 locations in 2023, targeting a loan portfolio of over 12 billion baht, representing more than 50% growth.<\/span><\/p>

Mr. Krit Jitjang, Managing Director of Kasikornbank<\/strong> stated that the bank is continuously advancing strategic projects aimed at expanding banking service access for a broader range of Thais. By integrating the concept of a 'challenger bank' into its organization, along with new technologies and working methods, the bank is also promoting businesses with potential in providing loans for small individuals. Recently, Kasikornbank acquired additional common shares from Turbo Money Co., Ltd., totaling 11.111 million shares, approximately 10% ownership, on December 20, 2022, to support Turbo Money's growth in retail loans, digital loans, life insurance, property insurance, and other products. The bank has observed Turbo Money's development over time and recognizes its potential for future growth. Turbo Money is a modern organization with a significant number of quality personnel, allowing it to be agile and adapt quickly in a highly competitive market and a changing world. This investment by Kasikornbank is conducted through Kasikorn Vision Co., Ltd. (KV), a subsidiary of Kasikornbank.

Mr. Sutthach Ruangsutthipap, CEO of Turbo Money Co., Ltd.<\/span> revealed that due to the continuous growth trend in the retail loan market, the company is confident that Turbo Money's business in providing financial services to retail customers in the community has significant growth potential by allowing community members to access reliable sources of funds, which will help reduce reliance on informal debt. Turbo Money is driven by a new generation of personnel and experienced professional management, utilizing information systems across various platforms to enhance service quality for customers, improve competitiveness, and reduce costs. This enables Turbo Money to provide financial services that are easy to understand, quick, convenient, and precisely meet customer needs. The honor of having Kasikornbank as a shareholder will enhance Turbo Money's image, operational potential, and strengthen its capital, allowing Turbo Money to deliver financial services to small individuals more comprehensively. In 2023, Turbo Money aims to expand its branches to at least 1,000 locations and targets a total outstanding loan portfolio of over 12 billion baht, representing more than 50% growth from 2022. Additionally, Turbo Money is actively recruiting numerous personnel for various positions to support its long-term vision of becoming a leading provider of retail financial services in the country.