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BT plans to enter asset management business.

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| February 01, 2002 | COPYRIGHT 2002 Financial Times Ltd. 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

Bankthai Plc plans to enter the asset management business and its wholly-owned firm, Thai Thanakit Securities Co, will apply for a license from the Securities and Exchange Commission (SEC), BT president Phirasilp Subphapholsiri said.

Asset management business has potential for growth and the bank has a policy to provide complete service to customers, he said. Besides, BT is ready to operate this business because it has already focused on operations supporting the capital market.

Rapee Sucharitakul, SEC assistant secretary-general, earlier said in an interview that five financial institutions have asked for information on establishing new asset management companies even though the SEC has not yet announced the timing and qualifications of those who apply ...

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