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Thailand’s banking industry may shrink to five

Thailand’s banking industry may shrink to as few as five lenders from 14 as competition and cost-cutting fuels consolidation, said Boontuck Wungcharoen, chief executive officer of TMB Bank Pcl

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Thailand’s banking industry may shrink to as few as five lenders from 14 as competition and cost-cutting fuels consolidation, said Boontuck Wungcharoen, chief executive officer of TMB Bank Pcl. (TMB) “Thailand has too many banks for the size of the market,” Boontuck, 55, said in a June 22 interview in his office in Bangkok.

“The country should probably have five or six strong banks, so I think you will see consolidation over the next five years.” TMB is 26 percent owned by the Ministry of Finance. Read More

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