Thailand

Maybank is targeting a turnaround in the second year of operation for its new Toul Kork branch.

Chakramon Phasukvanich takes over from Dato’ Robert Cheim Dau Meng as Chairman of the Board of Directors of CIMB Thai with effect from 1 January 2010.

Intensified lending to small and medium businesses and economic rebound give Bangkok Bank reason to cheer.

Siam Commercial Bank has maintained its strong financial profile despite political unrest and export contraction that has hit the Thai economy. This is according to Standard & Poor's credit analyst Geeta Chugh, who added that SCB's financial profile remains the strongest among its domestic peers. The bank's business profile also strengthened with about a 15 percent market share of deposits.

Krung Thai Bank will install remote product selling system in 1,382 service points by the first quarter of next year. The system enables customers to use products and services conveniently, while expediting loans' approval.

SCIB decides to suspend shedding off $271.7 million of non-performing loans due to low bids.

Maybank emphasized in an official statement that it will not make any bid for a stake in Siam City Bank.

Sources say central bank would sell its 48 percent stake as Thai government loosens foreign investments restrictions.

Siam Commercial Bank, however, expects 7 percent lending growth due to aggressive moves and better global economy.

Krungthai beat expectations by releasing 80,000 more new cards and earning $6 million net.

Acleda Bank now has 76 ATMs in 51 offices nationwide and 7 outdoor ATMs in Phnom Penh and Siem Reap.

Bangkok Bank recorded a net profit for the three months to 30 September 30 of US$149.4 million.

The Thai banking system’s continuous political volatility and economic uncertainty will suppress domestic demand and investment sentiment.

Pursuant to the agreement, the Chinese bank which is the world's biggest lender by market value, will buy Bangkok Bank's ACL Bank shares at 11.5 Thai baht ($0.34) apiece, as reported in China Knowledge. Bangkok Bank is Thailand’s largest lender.

Thanachart’s Chairman Banterng Tantivit said in a Reuters report on Oct 6: "It is in preparation in order to buy a stake in SCIB if we win the bid...and the rest will be used to boost our capital base". Under the plan, which got approval from a shareholder meeting Oct. 6, the bank would issue up to 4 billion new shares with a par value of 10 baht each to raise its registered capital to 59 billion baht from 19 billion baht. The share sale might be in one tranche or several tranches, according the bank's statement issued to its shareholders. Banterng declined to disclose the amount of funds for the acquisition until the bank completed due diligence.

The two companies target to sell 50,000 of Thailand's first housing credit card in the first year of its release.