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Banking

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

Boris Sullivan

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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.

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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.

Asean

12 Things to Know about the ASEAN Catalytic Green Finance Facility (ACGF)

The ACGF is an ASEAN Infrastructure Fund initiative managed by ADB’s Southeast Asia Department Innovation Hub. It helps Southeast Asian governments prepare and finance infrastructure projects promoting environmental sustainability and contributing to climate change goals.

Asian Development Bank

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Southeast Asia faces an infrastructure investment shortfall of more than $100 billion a year, which may have worsened amid the COVID-19 pandemic.

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Banking

Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses

Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.

Olivier Languepin

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The Thai cabinet has approved assistance worth 350 billion baht($11 Billion) to help businesses affected by COVID-19 with soft loans and asset warehousing.

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Banking

APAC Banks to Face Portfolio Valuation Losses As Yields Rise

The latest data suggest that Fitch-rated banks in Hong Kong, India, Indonesia, Malaysia and Taiwan have the largest AFS securities portfolios, and display particular sensitivity to changes in yields.

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Fitch Ratings-Hong Kong/Singapore-21 March 2021: A rise in yields for long-dated sovereign bonds will result in near-term losses for Asia-Pacific (APAC) banks as they recognise valuation changes on their available-for-sale (AFS) bond portfolios, but the capital impact should be manageable for most rated banks, says Fitch Ratings.

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