Banking
Thanachart Bank’s buyout of Siam City Bank could trigger competition
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.
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.
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.
(more…)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
A resurgence of coronavirus infections in Thailand will hamper the country’s economic recovery and raise asset risks for banks in the country.
(more…)
Thailand Approves Package to Attract Wealthy Foreigners and Professionals
Thailand’s Cabinet has approved an economic stimulus and investment promotion package aimed at attracting wealthy foreigners and highly skilled professionals...
The Role of Telemedicine Today: During and Beyond the COVID-19
Lockdowns, quarantine periods, and hospitals fast filling to the brink needed the medical community to come up with solutions fast....
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...
Climate Change Could Force 49 Million People to Migrate in East Asia and the Pacific
Out-migration hotspots in agricultural areas of central Thailand and Myanmar coincide with areas expected to see declines in both water...
Thailand BOI Approves Measures to Support Carbon Reduction
greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support...