Thanachart-SCB integration to create top 5 bank

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

Its integration with SCB, according to Thanachart Bank, will create a top 5 bank in Thailand, with over US$27.5 billion in assets and over 600 branches. It assures continued strong support from its major shareholder, Scotiabank.

"We understand that this transition may give rise to questions. Regular updates about the progress of integration will be available

on-line, in our branches and through announcements," the bank said in its website. ""We are now working together to combine Thanachart Bank's leadership positions in Hire Purchase, Securties and Insurance with Siam City Bank's strong branch network and expertise in Corporate and SME busiensses to create a truly diversified bank."

For now Thanachart Bank and Siam City Bank branches will continue to operate as separate entities until inetgration is completed
towards the end of next year.