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HSBC Welcomes Further Bank Sector Deregulation in Thailand.
Byline: Parista Yuthamanop
May 4--HSBC will continue to focus on its personal financial services in Thailand, according to Michael Smith, chief executive officer of the Hongkong and Shanghai Banking Corporation.
He said deregulation of the Thai financial system would allow the bank to progressively grow its local franchise.
"I welcome further participation or easier participation in the Thai financial market. I'm very well aware that the regulators want to deregulate the market in a fairly manageable and sustainable way," he said last week during a visit to Bangkok.
Under the new financial master plan, foreign banks must consolidate their Thai operations under a "single presence" concept. Foreign banks can also apply to open up to five new branches over ...
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Source: HighBeam Research, HSBC Welcomes Further Bank Sector Deregulation in Thailand.