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Siam City Bank interested in purchasing bad loans from Thai Military Bank.
(From fnWeb.com)
fnWEB - Bangkok - August 26, 2003 - State-owned Siam City Bank has displayed interest in buying 10 billion baht worth of problem loans from Thai Military Bank to bulk up its loan portfolio.
Siam City Bank President Apisak Tantivorawong told reporters the bank is assessing the value of transaction, and will send a proposal to Thai Military soon.
It is uncertain if the 10 billion baht refers to the face value or if the bad loans had been discounted.
Thai Military Bank has offered to sell some of its non-performing loans as part of its capital-raising plan. The bank needs fresh capital to redeem 13.3 billion baht in hybrid …
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