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Idea Hailed to Have Thailand Co-operatives Tie-Up into New Bank.

Bangkok Post (Bangkok, Thailand)

| March 13, 2003 | COPYRIGHT 2003 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Wichit Chantanusornsiri

Mar. 13--The Federation of Savings and Credit Co-operatives of Thailand (FSCT) says it supports state initiatives to pool local co-operatives together into a new bank.

But the federation, which represents co-operatives with collective savings of around 400 billion baht, said it was concerned about the

stability of any new bank, given the lessons learned following the 1997 financial crisis.

Narong Yutanom, deputy chairman of the FSCT, said deposit runs could undermine the stability of any new co-operative bank if members lacked confidence in its financial position.

But pooling local co-operatives ...

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Source: HighBeam Research, Idea Hailed to Have Thailand Co-operatives Tie-Up into New Bank.