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We are always interested in speaking to members of the media on news and events affecting the world of corporate credit risk. We look forward to hearing from you.
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For Immediate Release
Moody's KMV Provides Kasikornbank With Credit Risk Solutions
SAN FRANCISCO, April 5, 2007 - Moody's KMV, the world's leading provider of quantitative credit-risk measurement and management products and services, today announced that Kasikornbank of Thailand has selected Moody's KMV tools to manage its portfolio-level credit risk and to facilitate compliance with emerging regulatory requirements.
Moody's KMV will provide Kasikornbank with solutions that will allow it to examine the drivers of portfolio risk and economic capital allocation and to gain an intuitive understanding of the impact of rating, recovery, term, industry, size and other drivers of portfolio risk. This clarity will be critical as the bank moves to allocate economic capital to customers and business units for better decision making. Specifically, Moody's KMV's tools will be used to calibrate the bank's credit risk management model in preparation for compliance with pending Basel II regulatory requirements.
Mr. Patarapong Kanhasuwan, First Vice President of Kasikornbank, commented, "This partnership provides us with a credit-risk solution that helps us to systematically analyze and develop a strategy to diversify, reduce volatility and improve the return on the bank's portfolio of credit. Moody's KMV offers a strong and proven portfolio management approach that enables us to more efficiently use our capital, adhere to pending regulatory requirements, create the capacity to do more business and increase shareholder value."
The Moody's KMV portfolio of products is valued by regulators and customers alike for its use of empirical credit migration data and validated data on correlations through two business cycles.
Murray Bordignon, Vice President and Head of Asia Pacific at Moody's KMV, commented, "Our work with Kasikornbank marks the continuation of a trend where leading financial institutions across the globe are deploying Moody's KMV's credit risk portfolio management solutions to enhance their credit portfolios and capital management practices. We are committed to assisting dynamic and forward-thinking institutions, such as Kasikornbank, to increase returns on economic capital, comply with stricter regulatory requirements and improve their balance sheet."
About Kasikornbank
KASIKORNBANK Public Company Limited was established in 1945 with registered capital of Baht 5 Million and has been listed on the Stock Exchange of Thailand (SET) since 1976. As of June 30, 2006, the Bank is the fourth largest commercial bank in Thailand as measured by total assets. The Bank, with registered capital of Baht 30.5 billion and paid up capital of Baht 23.7 billion, had total assets of Baht 845.1 billion, total deposits of Baht 685.8 billion and total loans of Baht 629.1 billion. The Bank provides a broad range of consumer, commercial, and corporate banking services, including lending, deposit-taking, credit card services, international trade financing, custodian services, asset management, and investment banking services. As of October 17, 2006, the Bank operated 551 branches ; 168 Metropolitan branches and 383 Upcountry branches. The Bank branch network extends throughout Thailand's 76 provinces, as well as internationally with four branches overseas in Hong Kong, Los Angeles, Cayman Islands and Shenzhen and three representative offices in Beijing, Shanghai and Kunming.
As a result of a recent re-engineering process, the Bank has the country's most advanced computerized retailing services at all branches. With a highly innovative background, the Bank is credited with the introduction of a long line of new banking services in the Kingdom. The bank started the first financial company in Thailand and was the first to issue a national brand credit card. The bank's ATM machine network numbers 2,550 nationwide.
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