• Kasikornbank topped rankings for sustainability and omnichannel customer service
  • SCB dominates most product categories for speed, security and being helpful
  • Line BK was the consumer favourite for providing more loan options

Kasikornbank (KBank) received the most votes in the Most Recommended Retail Bank Survey in Thailand with a BankQuality™ Score (BQS) of 52%, mainly attributed to strong consumer confidence and for providing sustainability solutions.

KBank has 21.3 million customers in Thailand, with 9.3% year-on-year (YoY) growth. Its public appeal increased with the launch of K-Strategy that supports businesses with initiatives in corporate social responsibility, and environmental, social and governance projects.

The BankQuality™ Consumer Survey and Rankings is a digital consumer feedback channel developed by The Asian Banker. It surveyed 1,000 online customers across Thailand to understand their engagement, experience and satisfaction with retail financial service institutions with service, channels, products and support in managing living costs.

Siam Commercial Bank (SCB) and Kiatnakin Phatara Bank ranked second and third, respectively, in the Most Recommended Retail Bank survey. Krungthai Bank placed fourth and Government Savings Bank (GSB) fifth.

SCB dominated most product categories for speed, security and being helpful

Customers commended SCB for its fast, secure, and convenient banking services. While KBank is the leader in three product areas—current and savings account, credit card and home loan—SCB was dominant in five of 12 product categories namely international remittance, time deposit, personal loan, and non-life and life insurance.

KBank dominated the channel category, ranking first in mobile, internet, branch and phone banking, and relationships with managers. Both the GSB and Bank of Ayudhya tied for first place in the chatbot category.

SCB was recognised as the most helpful financial service provider in terms of realising savings by avoiding extra charges, for example by reminding customers of their upcoming bills, overdrafts, outstanding balances and below-minimum balances on deposit accounts. KBank ranked as the next most helpful bank.

Line BK is the most recommended digital-only bank for providing more loan options

Line BK, a collaboration between LINE Pay and KBank, is a separate social platform banking entity classified under digital banks in this survey. With over 5.3 million users, reflecting a YoY growth rate of 13%, Line BK is the most recommended digital-only bank in Thailand, with a BankQuality™ Score of 59%. The bank also has received positive feedback on its nano credit line.

Currently, Line BK has 600,00 credit line accounts. Loan demands have been growing steadily since its partnerships with Aurora and Srisawad in the last quarter of 2022 to provide customers with more loan options. Aurora is in the gold jewellery business and Srisawad is a lending company.

Members of TABInsights can now access the comprehensive BQS Thailand report that includes a detailed breakdown of BQS Scores for various institutions, products, and channels. Please click here to access the report.