Last Updated March 27, 2008
JPMorgan has signed an agreement with Thailand's Kasikorn Bank (KBank) to enter into a joint collaboration to offer trade finance, supply chain management tools and its intention to provide supply chain logistical support to clients. JPMorgan's supply chain and logistics management tools aim to provide KBank’s clients with greater transparency on their transactions. They will also allow the bank to create new trade finance and risk mitigation structures to support the Thai bank’s expansion, particularly in new markets.
"After a rigorous selection process for a service provider, JPMorgan was chosen as best in class for it’s leading edge trade solutions which offer an excellent fit for our customers and a unique differentiator from any other local banks in Thailand,” comments Songpol Chevapanyaroj, first senior vice-president, corporate business division of KBank.
From JPMorgan’s perspective, the collaboration will allow them greater access to KBank’s domestic network, credit support and infrastructure to offer in-country trade-related solutions both international customers as well as the Thai suppliers of large corporate clients.
“Our shared objective with KBank is to deliver solutions to the market which not only meet but anticipate a client’s business needs such as risk management and cost and operational efficiency and we are delighted at the opportunity to build on our existing relationship with them” commented Asif Raza, JPMorgan managing director and Asia Pacific head of trade and logistics management.
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