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Thai Bank Plans to Cut Branches, Axe Jobs.
Byline: Darana Chudasri
Jan. 5--Bangkok Metropolitan Bank will launch a downsizing programme this year while privatisation plans of the state bank remain uncertain.
President Yuth Vorachattarn said the privatisation framework would likely become more clear after the first half of this year.
The bank has been majority controlled by the Financial Institutions Development Fund since its seizure by regulators in 1998.
Efforts to sell the bank to HSBC Holdings collapsed in late 2000. The Government Pension Fund later announced that it would take a majority stake in both Bangkok Metropolitan Bank and Siam City Bank for 10 billion baht.
...
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Source: HighBeam Research, Thai Bank Plans to Cut Branches, Axe Jobs.