Krungsri chief leads sustainability thrust

Rooted in the belief that the future of banking needs to be sustainable, Kenichi Yamato, President and Chief Executive Officer of Bank of Ayudhya Public Co, Ltd, is striving to steer the bank towards a sustainable future.
Although Mr Yamato has been with Krungsri for just over a year, he is committed to achieving this vision and elevating the Thai financial institution to international standards.
He was appointed president and chief executive of the bank on May 15, 2023, and he also serves as a non-independent executive director on Krungsri’s board.
With more than 30 years of experience in the banking and financial industry, Mr Yamato is a seasoned professional who has held numerous important roles throughout his career.
He joined Mitsubishi UFG Financial Group (MUFG), the Japanese international financial institution, in 1991 and spent the majority of the first 20 years of his career in corporate and investment banking.
From 2011 to 2016, he led MUFG’s financial planning and global strategies team. In 2016, he served as the regional head for Hong Kong and later as the country head for China before returning to Tokyo in March 2022.
Prior to his current role, Mr Yamato was the chief executive of global commercial banking at MUFG, overseeing the group’s commercial banking operations in Asean. He also held key positions such as president commissioner of Bank Danamon in Indonesia and non-executive director of Security Bank in the Philippines.
“With the changing landscape of the banking industry, we believe that the future of banking is sustainable banking. Our goal is to enhance the overall ecosystem and improve the quality of life for all Thais. We are not only adapting to change but also thriving on it,” he said.
Krungsri plans to leverage the strong international expertise of MUFG — its parent company — in its transformation into a leading sustainable bank in Thailand.
The bank is committed to achieving carbon neutrality and aims to become one of the most sustainable commercial banks in the country. Together with MUFG, Krungsri has pledged to achieve net-zero emissions in its financial portfolio by 2050 and in its operations by 2030.
Krungsri, Thailand’s fifth-largest lender by total assets, believes that environmental and social sustainability are key to securing a sustainable future. The bank is also committed to addressing environmental and social challenges through its financial services.
“The bank has set a sustainable finance target of 100 billion baht from 2021 to 2030, and by the middle of this year, we already executed over 76 billion baht. Thanks to our strategic partnership with MUFG, we’re bringing global expertise to the local market,” he said.
According to Mr Yamato, Krungsri is also ready to support the overall ecosystem to enhance sustainability by introducing various sustainable financial services and products to the Thai market. These include sustainability-linked bonds, sustainability-linked loans, green and social bonds, and Southeast Asia’s first sustainability bond in the transportation sector.
Mr Yamato highlighted Krungsri’s pride in initiatives such as Krungsri ESG Hours and the Krungsri ESG Academy, designed specifically to help Thai small and medium-sized enterprises (SMEs) transition to sustainable business practices and ensure long-term growth.
Krungsri ESG Hours recognises and supports SME entrepreneurs who align their business practices with environmental, social and governance (ESG) principles.
Meanwhile, the Krungsri ESG Academy provides training courses to equip entrepreneurs with essential ESG knowledge, helping them develop transition plans that adhere to ESG frameworks and promote long-term changes in business operations and product offerings.
Additionally, the bank offers the Krungsri SME Transition Loan, in line with the Bank of Thailand’s guidelines, which is designed to help local SMEs adopt sustainable practices based on the circular economic model.
Krungsri also collaborates with local partners to promote a sustainable economy in Thailand. The bank has partnered with the Electricity Generating Authority of Thailand to study and promote green and smart energy solutions, along with mechanisms for reducing greenhouse gas emissions.
As a regional player, Krungsri is also prepared to support Asean member states in their transition to a sustainable economy.
Kenichi Yamato
President and Chief Executive Officer of Bank of Ayudhya Public Company Limited (Krungsri)