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BankThai eyes retail after development-fund deal ends.
Byline: Parista Yuthamanop
Nov. 2--BankThai plans to jump into the retail-banking sector in 2005 as a means of diversifying its revenue base from its traditional focus on wholesale and corporate banking.
Phirasilp Subhapholsiri, the BankThai president, said that the bank's five-year asset- management contract with the Financial Institutions Development Fund would expire at the end of 2005, resulting in the bank's asset book becoming completely clean.
The bank currently has some 115 billion baht worth of bad assets under the covered asset pool, with some 40 billion restructured to date at a recovery rate of 70 percent.
Once the contract ...
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