Thailand’s KBank to focus on family wealth planning
- Asia First
- Nov 24, 2022
- 1 min read
The higher demand for family wealth planning has prompted KBank Private Banking, the wealth management service under Kasikornbank (KBank), to focus on the service from next year. Demand for family wealth services has been rising as the new Foreign Account Tax Compliance Act (FATCA) is expected to be implemented around Q3 2023. Wealthy Thais who own assets overseas will have to transfer some assets to Thailand and pay more attention to tax management. KBank is Thailand’s second-largest lender by total assets. It was the first bank in the country to offer family wealth planning five years ago. The service mainly covers tax management, family wealth transfers, and family office services.