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Framework for Financial Sector Is Approved by Thailand Cabinet.
Jan. 7--Cabinet ministers yesterday approved a sweeping development framework for the financial sector, which is expected to lead to a flurry of mergers over the next several years.
The new plan will allow only two types of licences for Thai firms, full-service banks and restricted banks, while foreign banks will be allowed to maintain only a single presence within the country.
Ministers said the plan would result in the number of financial institutions falling to 40 from 83 over the next several years.
Finance Minister Suchart Jaovisidha said consolidation would start with state-owned banks, with only "one or two" remaining by 2005.
"In the first quarter, we will see the first merger take place, with another two by the end of the year," he said ...
- Krung Thai Bank Public Company Ltd.
- Reference information from: International Directory of Company Histories Cohen, M. January 1, 2005 700+ words
Krung Thai Bank Public Company Ltd. 35 Sukhumvit Road...NAIC: 522110 Commercial Banking Krung Thai Bank Public Company Ltd. is Thailand's...Indochine, established in 1897. Foreign banks dominated the country's financial...
- Newly Merged Thai Bank Eyes 200 Billion Baht Growth in Lending.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) (via Knight-Ridder/Tribune Business News) April 2, 2002 700+ words
...the face of growing competition from larger Thai banks and foreign banks. He said the enlarged Siam City Bank would likely continue...First Bangkok City Bank staff after its merger with Krung Thai Bank. "But in the end, cultural problems and other difficulties...
- Thai Bank Schedules Privatisation Plan for Next Year.
- Newspaper article from: Knight Ridder/Tribune Business News July 27, 2002 700+ words
...the timing will depend on when can we maximise prices, and who we can sell to maximise returns for the country." Several foreign banks had contacted the FIDF over the past few months about making an investment in Siam City shares, Mr Apisak said, although...
- Krung Thai Bank Defends Role in Media Conglomerate Deal in Thailand.
- Newspaper article from: Knight Ridder/Tribune Business News May 23, 2002 700+ words
...Tribune Business News May 23--Krung Thai Bank has defended its actions in debt restructuring...by the newspaper. In any case, Krung Thai Bank executives reject accusations that the...handled as separate accounts by Krung Thai Bank, Sukhumvit Asset Management and the...
- KRUNG THAI BANK TO INSTALL NEW ONLINE FOREX PORTAL.
- News wire article from: AsiaPulse News April 29, 2004 700+ words
...Xinhua-PRNewswire-AsiaNet - The Krung Thai Bank Public Company Limited, Thailand's...Dealing service (RET-AD). The Krung Thai Bank, which already has a Reuters real...leading-edge technology will enable Krung Thai Bank's customers to conduct FX and money...
- Thai Bank Eyes September Share Offer.
- Newspaper article from: Knight Ridder/Tribune Business News July 8, 2003 700+ words
...Tribune Business News Jul. 8--Krung Thai Bank expects to hold a public offering of...sentiment stays right," he said. Krung Thai Bank, one of the largest stocks on the Stock...particularly to small businesses. Krung Thai bANK reported outstanding credit totalling...
- Thai Asset Management Hires Krung Thai Bank to Service Retail Debt.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) (via Knight-Ridder/Tribune Business News) August 26, 2003 700+ words
...Corporation (TAMC) plans to hire Krung Thai Bank to service distressed assets for retail...Krung Thai will be signed today. Krung Thai Bank will oversee servicing duties for assets...Restructuring terms and conditions used by Krung Thai Bank will be set by the TAMC, with an ...
- Bankers Want Head to Affirm Krung Thai Bank Support.
- Newspaper article from: Knight Ridder/Tribune Business News August 14, 2003 700+ words
...Creditors of TPI Polene Plc want Krung Thai Bank president Viroj Nualkhair to testify...said a state bank, reportedly Krung Thai Bank, had committed to providing a loan for...Mr Prachai brought a lawyer from Krung Thai Bank to appear before the court. The lawyer...