49879 - DCM KBankGreen

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Summary of Investment Information

Project Number

49879

Company Name

KASIKORNBANK PUBLIC COMPANY LIMITED

Date SPI Disclosed

Jan 14, 2026

Country

Thailand

Region

East Asia and the Pacific

Projected Board Date

Jul 31, 2025

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jun 18, 2026

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Jul 31, 2025
Signed : Dec 17, 2025
Invested : Jun 15, 2026

Sector

Commercial Banking - General

Project Description

The proposed investment entails IFC's subscription of up to US$200 million in US$-denominated green bonds with tenor of up to 7 years to be issued KASIKORNBANK PUBLIC COMPANY LIMITED (KBank or the Bank), to help the Bank scale up and diversify its green assets, with a focus on green buildings (the Project). The green bond issuance will adhere to the International Capital Market Association's (ICMA) Green Bond Principles (GBP).

Established as the Thai Farmers Bank in 1945, KBank is the third-largest commercial bank in terms of total assets, and deposits with market share of 16.33%* and 16.80%*, respectively, and a second-largest commercial bank in terms of total loans with market share of 16.34% as of September 2025. KBank is rated Baal by Moody's and BBB by Fitch and S&P and is listed on the Stock Exchange of Thailand (SET).

Note: Assets, loans and deposits market share is based on C.B.1.1 (monthly statement of assets and liabilities) of 17 Thai commercial banks as of September 2025 by KResearch

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	200.0
Equity

IFC's loan to the financial institution described in this SII is targeted for on-lending to the following sector(s):

Product Type	Use of Proceeds
Straight Senior Loan	Labeled: Green;Blue;Social-Loans/Bonds

IFC's Definitions of Targeted Sectors can be found here.

Development Impact

Increased Access to Climate Finance: IFC's proposed investment will support KBank to grow its financing of green asset and diversify its green portfolio to new assets classes including green buildings, subsequently contributing to reductions in GHG emissions.

Market Creation: lFC anticipates that the Project, will help KBank diversity its green assets, especially support an introduction of EDGE-certified green buildings per IFC's EDGE Green Buildings Market Transformation programmatic approach, thereby deepening the green building market in Thailand. The Project is also expected to send a strong signal to the market, motivating other financial institutions to replicate and contribute to the development of green building market through demonstration and replication, capacity building, and enabling frameworks.

Financial Structure: lFC will invest in the first green-labelled issuance by KBank that will adhere to ICMA's GBPs. IFC's support to enhance the Bank's green bond framework in line with best international practices will be an important endorsement of KBank's credibility and capacity to deploy the bond proceeds toward green financing. The proposed investment will also provide the long-term funding to support eligible green assets and help improve KBank's asset liability management. Knowledge, Innovation, and Capacity Building: IFC will provide KBank with comprehensive climate advisory services, in which IFC will support KBank to develop leading practices, enhance capacity in climate finance and diversify green assets by: (i) providing green finance eligibility workshops beyond renewable energy to include knowledge about green buildings, energy efficiency, clean transportation, blue and climate-smart agriculture, etc.; (ii) catalyzing EDGE-certified green building projects in Thailand by conducting technical knowledge workshops , (iii) introducing the Paris Agreement Capital Transition Assessment (PACTA) methodology for climate transition risk assessment; and (iv) introducing impact reporting metrics via IFC's Climate Assessment for Financial Institutions Tool (CAFD) to track and measure the impact of climate projects financed. Standard Setting: The Project will help KBank to enhance its E&S Management System ("ESMS") to align with good international E&S practices.

E&S Category Rationale / Risks and Mitigation

The project involves IFC’s investment in a privately issued green bond to support Kasikornbank Public Company Limited (KBank) in expanding its green finance portfolio. The project will exclusively support eligible green sub-loans. Use of the bond proceeds will exclude any coal-related activities or any higher E&S risk activities that involve (a) involuntary resettlement, (b) risk of adverse impacts on Indigenous Peoples, (c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage, (d) risk of retrenchment, or (e) significant occupational health and safety risks. The activities to be supported by the bond are expected to be of moderate E&S risks, which are generally site-specific and related mostly to occupational health and safety, pollution control, waste management and labor and working conditions. The project has therefore been categorized as Category FI-2 according to IFC Sustainability Policy. The applicable E&S performance requirements will be IFC Exclusion List, which is extended by additional restricted activities, and relevant national E&S laws and regulations. KBank will also be required to establish a screening process allowing for excluding higher E&S transactions of the type contemplated by the Performance Standards. The project is subject to IFC’s disclosure commitment for climate sub-projects.

KBank has an E&S management system under its sustainable development framework and has appointed E&S staff. The existing E&S management system includes elements such as E&S credit policies, an exclusion list, and E&S screening procedures and E&S reporting. For this project, KBank will enhance its existing E&S management system and capacity, including developing procedures for identification and exclusion of higher E&S risks transactions, to adequately assess and manage the E&S risks of the bond-supported activities consistent with the above applicable E&S performance requirements. The bank will also formally nominate an ESMS officer and provide E&S training for all relevant staff. KBank’s own labor practices are found to be in line with Performance Standard 2 requirements on labor and working conditions and will be required to continue adhering to this standard.

S.no	Title	Anticipated Completion Date
1	ESMS Officer nomination	06/25/2025
2	ESMS enhancement	06/25/2025
3	E&S training	06/25/2025
4	ESMS implmentation	07/25/2025

Contacts

For Inquiries About the Project, Contact

Kasikornbank PCL

Corporate Public Relations Unit

Email: kbankpr@kasikornbank.com

Phone: + 66 2470 2654-8

Address: 400/22 Phahon Yothin Road, Sam Sen Nai Sub-district, Phaya Thai District, Bangkok, Thailand, 10400

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IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

Independent of IFC and MIGA management and reporting directly to the IFC and MIGA Boards of Executive Directors, CAO helps resolve issues raised about the environmental and social impacts of projects through a neutral, collaborative, problem-solving approach via its Dispute Resolution function. It also reviews IFC’s and MIGA’s compliance with environmental and social policies, assesses related harm, and recommends remedial actions through its Compliance function. Additionally, CAO provides advice to IFC, MIGA, and their Boards to enhance environmental and social sustainability performance and minimize the risk of harm.

Complaints may relate to environmental and social harm regarding any aspect of the planning, implementation, or impact of a project or sub-project, and can be made by any individual, group, community, entity, or other party affected or likely to be affected by the environmental or social impacts of an IFC- or MIGA-financed business activity.

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CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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