softened handset subsidies and a focus on quality acquisition, partially offset by increasing advertising expense to enhance brand perception. Marketing expenses to total revenue stood at 5.1% , down from

customer perception. We continue to focus on delivering fair profitability balancing between short- and long- term drivers while keeping our solid financial strength. Market and Competitive Environment As

operators have committed to increasing 5G customer perception and expanding network coverage in high density of demand areas. As a result, 5G adoption reached around 4mn subscribers, underpinned by the rising

revenue from overseas sales for the period, not only support our market diversity but also raise our brand perception as the People’s Republic of China is one of the top 5 energy drink market in the world

strengthen customer perception towards KBank as an “Embedded Trust” agent, offer products and services “Beyond Banking” and stay relevant to “Everyone, Every Day, Every Way and Everywhere” in order to deliver

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction, buoyed by strong recoveries in tourism and exports. This growth momentum is expected to carry on into 2018, especially amid a brighter outlook in public and private investment. Nonetheless, the business sector remained challenged by new modes of competition in a broader marketplace amid the advancing digi...

development of new branch formats to accommodate service use of customers in relevant areas and thus ensure a novel brand perception. We also enhanced service efficiency with the application of technology and

focus was on development of new branch formats to accommodate service use of customers in relevant areas to ensure a novel brand perception. We also enhanced efficiency of existing service channels with

services.Our focus was on the development of new branch formats to accommodate service use of customers in relevant areas and to create a novel brand perception. We also enhanced service and sale efficiency with

service provider to offer products and services “Beyond Banking”, stay relevant to “Everyone, Every Day, Every Way and Everywhere”, and strengthen customers’ perception towards KBank as an “Embedded Trust