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Ten new Thai banks to emerge in two years.
Byline: Parista Yuthamanop
Aug. 5--At least 10 new banks will be established over the next two years, while the total number of financial institutions will fall to 42 from 58 under the new financial master plan, according to the Bank of Thailand.
The central bank yesterday announced that 27 financial institutions have submitted applications to change their operating licences, including proposals to set up two new local banks, one foreign subsidiary and two new foreign full-branch entities.
Local and foreign financial institutions had until the end of July to submit applications to apply for new licences under the new master plan, which ...
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Source: HighBeam Research, Ten new Thai banks to emerge in two years.