Thailand

Thanachart-SCB integration to create top 5 bank

Thanachart Bank has completed the purchase of shares of Siam City Bank.

Thanachart-SCB integration to create top 5 bank

Thanachart Bank has completed the purchase of shares of Siam City Bank.

CP Group acquires $1.47B expansion loans from 8 Thai banks

The Charoen Pokphand Group will acquire financing totaling 1.47 billion from eight local banks to support its business expansion plans.

Kasikornbank extends financial facilities to Japanese businessmen

Kasikornbank enhanced its business partnership with Shizuoka Bank by connecting the financial service networks of the two banks. It's aim is to increase financial transactions by 4 billion Baht and becoming the top Thai bank serving Japanese customers.

KTB to cut on outside area fee rate

Krung Thai Bank is going to reduce its outside area transfer and withdrawal’s fee to 15 baht for customers conducting transactions through the Bank’s ATMs and ADMs.

SCB unveils 2011 SME lending strategies

SCB announced ts SME lending strategies for 2011, highlighting a diverse range of innovative credit programs and attractive promotional campaigns all year round.

KTB to move ahead into insurance market

KTB has joined hands with KTB-AXA to develop new life insurance products to welcome the year of golden rabbit. Ms. NongNutch Thienpaitoon, Senior Executive Vice president, Managing Director, Network group, Krung Thai Bank PCL. discloses that the Bank  and KTB-AXA has together developed several full range products including short, medium, and long term life insurances to answer clients  from every generation ’ needs.

SCB strengthens retail banking through 3 promotions

Siam Commercial Bank has promoted Ms. Pikun Srimahunt to Executive Vice President of the Mortgage Business Division. It also promoted Ms Sanannart Kulpaisantham to Executive Vice President of the SSME Business Division, and Ms Jamaree Ketrakool to Executive Vice President of the Retail Credit Division, with immediate effect.

Bangkok Bank reports 2010 net of $808M

Bangkok Bank and its subsidiary companies have reported a net profit of US$808 million for 2010, 19.9 percent higher than in 2009.

Siam Commercial fourth quarter profit up 26%

Thailand economic growth seen to boost the bank's loan demand in 2011.

Bangkok Bank sees 5-7% loan growth next year

The lender sees net interest margins to remain flat at 3% in 2011.

Siam Commercial Bank selects Transoft Cash Management

The bank to maximize use of Transoft’s OptiCash applications suite for its next generation currency management

Bangkok Bank sees bigger 2011 loan growth

Bangkok Bank's expects its 2011 lending to surpass the the 4-5 percent expected this year. The bank ascribes this to consumption, investment and government spending.

Thai banking system gets stable Moody’s outlook

The outlook for the Thai banking system is stable over the next 12-18 months, according to Moody’s. Nonetheless, a host of challenges is evident, particularly if prolonged political disruptions pressure economic and financial fundamentals. "Our stable outlook is underpinned by our view that the banking system remains capable of managing any incremental losses stemming from the country's political turmoil without deeply compromising bank capitalization," says Karolyn Seet, a Moody's Assistant Vice President and Analyst. "However, while the political environment has become calmer in recent months and the economy is growing strongly, the potential for renewed political unrest remains a key concern," says Seet.

ICBC officially enters Thai market

ICBC opened a branch Bangkok to mark its foray into the Thai market. The new Branch, formerly ACL Bank before being acquired by ICBC, was officially renamed as ICBC (Thai) Public Company Limited or ICBC Thai.

Krung Thai Bank profit up 17.4% to $167mln

Government infrastructure projects helped boost the lender’s profitability, which is $23.43mln above forecast.