time, KBank continued to consolidate branches to reduce redundancy, especially those with relatively low traffic. In the third quarter, KBank introduced Happy Loan Center at two locations, which is a new

evidenced by the increased use of digital banking transaction, instead of visits to bank branches. We therefore continued to consolidate branches with relatively low traffic and to expand service channels at

partners. At the same time, KBank continued to consolidate branches to reduce redundancy, especially those with relatively low traffic. In this quarter, KBank opened new hybrid branches, bringing the total

E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4 percent compared to 4.2 percent in the previous year.The slowdown could be attributed to exports which contracted further due to the stronger Baht and a global economic slowdown. In addition, the investment environment of both the public and private sector remained weak, and private consumption, albeit gro...