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Thai Mergers to Create `Super Bank'.
Byline: Wichit Chantanusornsiri
Jan. 1--The merger of state-owned commercial banks will create an institution with assets of more than one trillion baht, Finance Minister Suchart Jaovisidha said yesterday.
Consolidation of state-owned banks would help generate economies of scale needed for such an institution to compete in the future and efficiencies leading to improved service, he said.
"Personally, I would like to see the banking system reduced to no more than four, or even possibly three banks, through mergers," Mr Suchart said.
Bangkok Bank, the country's largest bank, had total assets of 1.3 trillion baht as of Sept 30.
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Source: HighBeam Research, Thai Mergers to Create `Super Bank'.