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Fate of Krung Thai Bank's president is in hands of central bank.
Byline: Wichit Chantanusornsiri
Oct. 5--Uncertainty regarding the presidency of Krung Thai Bank should be completely resolved within a week or two, according to Finance Minister Somkid Jatusripitak.
Dr Somkid said the task of appointing a new bank president rested with the KTB board.
"Right now, the board is awaiting the results of a review by the Bank of Thailand regarding the qualifications of Viroj Nualkhair," he said.
The KTB board last month unanimously approved the appointment of Mr Viroj to a second term as bank president. Mr Viroj, a former chairman of Phatra Securities, was president of KTB from 2001 until this past August.
But the central bank has opposed the re-appointment, arguing that Mr Viroj should take responsibility for lending irregularities that resulted in KTB being forced to reclassify 46 billion baht worth of loans as non-performing in the first half and set aside 10 billion baht in new loan-loss provisions.
An internal investigation by the bank cleared Mr Viroj of any involvement in the case, and blamed the problems on lower-level staff failing to comply with bank procedures.
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