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Thanachart Bank’s buyout of Siam City Bank could trigger competition

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TBank, 49% owned by Canada’s Bank of Nova Scotia, this month purchased a 47.58% stake in SCIB from the Financial Institutions Development Fund for about 32 billion baht. TBank plans to tender for all outstanding shares of SCIB and to consolidate the assets under the Thanachart brand.

TBank’s asset size will double by the year-end. The new entity will become the country's fifth-largest bank with assets of about 800 billion baht, overtaking both Bank of Ayudhya and TMB Bank, two other mid-sized banks with foreign institutions as major shareholders.

BAY, 32.9% held by GE Capital, has grown sharply over the past two years primarily through acquisitions. TMB, 26.4% held by the ING Group, has actually shrunk its loan portfolio while it focuses on cleaning up its balance sheet and overhauling internal processes.

via SCIB buyout to fuel fresh competition.

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Banking

Malaysia, Thailand banks to join the ASEAN Banking Integration Framework

Banking institutions from Thailand and Malaysia are invited to join the ASEAN Banking Integration Framework and indicate their interest to become a Qualified ASEAN Bank (QAB) in Malaysia and Thailand.

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Pursuant to the bilateral arrangement under the ASEAN Banking Integration Framework (ABIF) between Bank Negara Malaysia (BNM) and the Bank of Thailand (BOT) which was concluded in April 2019, banking institutions from Thailand and Malaysia are invited to indicate their interest to be a Qualified ASEAN Bank (QAB) in Malaysia and Thailand.

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Banking

Coronavirus raises asset risks but Thai banks will maintain adequate solvency

A resurgence of coronavirus infections in Thailand will hamper the country’s economic recovery and raise asset risks for banks in the country, says Moody’s

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A resurgence of coronavirus infections in Thailand will hamper the country’s economic recovery and raise asset risks for banks in the country.

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