The Thai monetary institution is being elevated to international standards while ensuring its potential.
Kenichi Yamato, President and CEO of Bank of Ayudhya Public Co, Ltd., is attempting to navigate the company in a responsible direction from the conviction that the future of banking must be responsible.
Although Mr. Yamato has only been employed by Krungsri for about a month, he is determined to realize this goal and bring the Thai economic organization up to international standards.
On May 15, 2023, he was appointed to the bank’s president and chief exec, and he also serves on the board of Krungsri as an independent professional.
Mr. Yamato is a skilled professional who has spent more than 30 years in various significant positions throughout his job.
He spent the first 20 years of his career in corporate and investment banking before joining Mitsubishi UFG Financial Group ( MUFG), a Japanese international financial institution, in 1991.
From 2011 to 2016, he led MUFG’s financial planning and global techniques group. Before returning to Tokyo in March 2022, he served as the local mind for Hong Kong and afterwards as the land mind for China.
Mr. Yamato stated that the company’s goals are to enhance Thailand’s overall ecology and raise all residents ‘ quality of life.
Prior to taking over the group’s professional banking businesses in Asean, Mr. Yamato was the chief executive of global corporate banking at MUFG. Additionally, he held important posts, including as the non-executive chairman of Security Bank in the Philippines and the senator director of Bank Danamon in Indonesia.
We think green finance will be the banking industry’s potential because of the changing scenery of the industry. Our objective is to improve the quality of life for all Thais and strengthen the ecosystem nevertheless. We are not only thriving on it but even adapting to change, he said.
Krungsri intends to use the global knowledge of MUFG, its family firm, to transform into a leading green bank in Thailand.
The bank aims to become one of the country’s most responsible commercial banks and is committed to achieving carbon neutrality. Krungsri and MUFG have a commitment to achieve net-zero emissions in both its financial investment and its procedures by 2030.
Krungsri, Thailand’s fifth-largest provider by total property, believes that environmental and social ecology are essential to securing a lasting future. Additionally, the institution is committed to using its financial solutions to address social and environmental issues.
The bank has committed to a 100 billion baht green finance goal between 2021 and 2030, and we have already executed more than 76 billion baht by the middle of this time. Owing to our strategic relationship with MUFG, we’re bringing world experience to the local business”, he said.
By bringing a variety of responsible financial services and products to the Thai marketplace, according to Mr. Yamato, Krungsri is even willing to support the entire ecosystem to improve sustainability. These include sustainability-linked securities, sustainability-linked loans, natural and social securities, and Southeast Asia’s first conservation connection in the travel industry.
Mr. Yamato praised Krungsri’s pride in initiatives like the Krungsri ESG Hours and the Krungsri ESG Academy, which were created specifically to assist Thai small and medium-sized businesses ( SMEs ) transition to sustainable business practices and ensure long-term growth.
Krungsri ESG Hours recognises and supports SME entrepreneurs who align their business practices with environmental, social and governance ( ESG) principles.
In addition, the Krungsri ESG Academy offers training programs to help businesses grow change plans that adhere to ESG systems and promote long-term shifts in business operations and product offerings.
Also, the bank offers the Krungsri SME Transition Loan, in line with the Bank of Thailand’s suggestions, which is designed to support local SMEs adopt sustainable practices based on the round socioeconomic model.
Krungsri also works with regional partners to market a Thai economy that is green. The Electricity Generating Authority of Thailand and the Bank have collaborated to research and promote efficient and intelligent power options as well as methods for lowering greenhouse gas emissions.
Krungsri is even willing to support Asean member states in their transition to a sustainable market as a local gamer.
Kenichi Yamato
Bank of Ayudhya Public Company Limited ( Krungsri ) President and CEO