Thailand

Despite expecting 3 percent to 5 percent growth in loans this year, SCB executive chairman Vichit Suraphongchai studies ways to upgrade the bank's core system.

Siam Commercial Bank is targeting 60,000 card holders within one year for its new "SCB Beyond Platinum" Credit Card aimed at expanding the high-end customer base. It has a wide range of benefits under the "Always Upgrade" concept catering to all client lifestyles, such as an entitlement of up to 4 times reward points, upgrading of air tickets and hotel accommodations, and many other privileges.

And the government considers waiving 49 percent rule to allow foreign banks to take a controlling stake.

Thousands of Google AdWords customers across Thailand are getting assistance from Bangkok Bank financial pre-payment options.

KTB anticipates approving loans of not less than US5.2 billion in the second half of the year.

Bangkok Bank has cooperated with postal services in Japan, South Korea, and Israel for transferring funds to recipients' accounts at Thai banks.

Kasikornbank and its subsidiaries recorded a net profit of US$220.5 million for the first half of 2009. The said net profit is 13.83 percent lower than US$255.89 million net earning during the same period last year.

The SMI Capability Enhancement Project is offering financial support of up to US$2.938 million per entrepreneur for the second year.

Krung Thai Bank approved over US$17.63 billion loans to telecommunications, automobiles and the petro-chemical industries in the first half of 2009.

Krung Thai Bank has prepared US$294 million for loans to entrepreneurs wanting to start new businesses. This accommodates the Thai government's Strong Thailand Stimulus Plan 2012, which aims to create  new businesses and boost liquidity.

Bank of Ayudhya launched a new personal loan service with a credit limit as high as THB1,000,000 or US$29,351 through the ATM. The "KRUNGSRI Smile Cash Line Cash Card" also has an exemption for withdrawal fee and annual fee for a lifetime.

Krung Thai Bank has joined the Bank of Thailand and the Securities and Exchange Commission to address customers' complaints about loan refusals.

Bank of Ayudhya came to terms with the American International Group to acquire 100 percent shares of CFG Services Company Limited. The transaction, subject to the approval of the Bank of Thailand and BAY’s shareholders, is expected to be completed by the end of September 2009.

ACLEDA Bank's Svay Rieng Branch is the latest to be relocated in accordance with the company's relocation and expansion plan.

Bank of Ayudhya has reached an in-principle agreement with GE Capital for the purchase of GE Money Thailand. The proposed transaction is subject to various regulatory, corporate and shareholder approvals, as well as the completion of a definitive agreement. If closed, the transaction would represent an investment of approximately Baht 13.75 billion or approximately US$391 million subject to closing adjustment.

SCB takes part in the government's economic action plan by offering government savings bonds on 13 to 17 July and 20 to 21 July.