Bangkok: Krungthai Bank has introduced "Krungthai DR80", a new Depositary Receipt (DR) product designed to enable Thai investors to engage in foreign stock markets using Thai baht. The initiative allows investors to buy into leading international stocks without the need to open foreign accounts or deal with currency conversion, trading directly through the Stock Exchange.
According to Thai News Agency, Krungthai Bank aims to simplify global market access and widen investment opportunities for all by developing innovative financial products. As a prominent player in the DR market, the bank offers 'Krungthai DR80' securities, covering various stock markets, including Asian, US, and European markets with a total of 41 securities. Thai investors with existing securities trading accounts can immediately invest via the Streaming application, using their local currency.
The 'Krungthai DR80' product is tailored to cater to the needs of modern investors with several notable features. Investors can trade foreign stocks in Thai baht, just like regular stocks, on the Thai stock market. Additionally, Krungthai Bank covers all fees associated with storing the underlying securities, ensuring a streamlined experience.
Krungthai Bank has partnered with global asset custodians, The Hongkong and Shanghai Banking Corporation Limited (HSBC) and Maybank Securities Pte. Ltd., to store the underlying securities of the DRs. The bank covers all related expenses, ensuring that DR holders are not charged directly or indirectly, and these costs are not included in the net asset value (NAV) assessment price in any manner.