Thailand

Siam Commercial Bank has promoted Ms. Pikun Srimahunt to Executive Vice President of the Mortgage Business Division. It also promoted Ms Sanannart Kulpaisantham to Executive Vice President of the SSME Business Division, and Ms Jamaree Ketrakool to Executive Vice President of the Retail Credit Division, with immediate effect.

 

Bangkok Bank and its subsidiary companies have reported a net profit of US$808 million for 2010, 19.9 percent higher than in 2009.

Thailand economic growth seen to boost the bank's loan demand in 2011.

 

The lender sees net interest margins to remain flat at 3% in 2011.

The bank to maximize use of Transoft’s OptiCash applications suite for its next generation currency management

Bangkok Bank's expects its 2011 lending to surpass the the 4-5 percent expected this year. The bank ascribes this to consumption, investment and government spending.

The outlook for the Thai banking system is stable over the next 12-18 months, according to Moody’s. Nonetheless, a host of challenges is evident, particularly if prolonged political disruptions pressure economic and financial fundamentals. "Our stable outlook is underpinned by our view that the banking system remains capable of managing any incremental losses stemming from the country's political turmoil without deeply compromising bank capitalization," says Karolyn Seet, a Moody's Assistant Vice President and Analyst. "However, while the political environment has become calmer in recent months and the economy is growing strongly, the potential for renewed political unrest remains a key concern," says Seet.

ICBC opened a branch Bangkok to mark its foray into the Thai market. The new Branch, formerly ACL Bank before being acquired by ICBC, was officially renamed as ICBC (Thai) Public Company Limited or ICBC Thai.

Government infrastructure projects helped boost the lender’s profitability, which is $23.43mln above forecast.

CIMB Thai unit sees return to profit in first nine months after posting $1.36mln loss.

The lender attributes improved economy to help debtors repay. 

Private equity funds' search for SMEs and latter's financing needs prompts SCB to act as middleman.

Lender attempts to teach SME customers and offer promotional campaigns to hedge against financial risk.

Lender to review Nok's competitiveness and financial soundness before it would divest its 10% stake.