Thailand

Bank of Ayudhya launched a new personal loan service with a credit limit as high as THB1,000,000 or US$29,351 through the ATM. The "KRUNGSRI Smile Cash Line Cash Card" also has an exemption for withdrawal fee and annual fee for a lifetime.

Krung Thai Bank has joined the Bank of Thailand and the Securities and Exchange Commission to address customers' complaints about loan refusals.

Bank of Ayudhya came to terms with the American International Group to acquire 100 percent shares of CFG Services Company Limited. The transaction, subject to the approval of the Bank of Thailand and BAY’s shareholders, is expected to be completed by the end of September 2009.

ACLEDA Bank's Svay Rieng Branch is the latest to be relocated in accordance with the company's relocation and expansion plan.

Bank of Ayudhya has reached an in-principle agreement with GE Capital for the purchase of GE Money Thailand. The proposed transaction is subject to various regulatory, corporate and shareholder approvals, as well as the completion of a definitive agreement. If closed, the transaction would represent an investment of approximately Baht 13.75 billion or approximately US$391 million subject to closing adjustment.

SCB takes part in the government's economic action plan by offering government savings bonds on 13 to 17 July and 20 to 21 July.

Krung Thai Bank is going to expand ATM installation points to facilitate the clients nationwide including the four southern-most border provinces.

KTB injected money through loans to over 40,000 retail clients with credit line of US$30 million, enabling total personal loans to grow to US$8.8 billion.

Siam Commercial Bank named Associate Professor Dr. Kulpatra Sirodom to serve as an Independent Director and member of the Audit Committee. This is pursuant to Mr. Tiraphot Vajrabhaya's resignation.

Bangkok Bank has introduced a new fixed deposit account with increasing interest rates, from 1 to 1.5 percent per annum, over a period of 18 months. Interest will be paid every six months. Customers can enjoy the “Step Plus” offer up to 20 July 2009 by opening an account with a minimum deposit of US$14.65.

Siam Commercial Bank launched a special campaign to stimulate housing demand with the Asian Property Development PCL.

Standard Chartered Bank electronic banking platform now enables corporate executives to access electronic banking facilities even without Internet connection. It delivers greater speed, convenience and security to clients as this is a fully mobile application as apposed to other applications which are only accessible via a mobile browser.

Moody's will determine the appropriate systemic support for Thailand's bank ratings and the implications for 11 banks identified as being potentially affected.

BankThai announced the appointment of Subhak Siwaraksa as its new CEO and President.

HSBC's conference will focus on the advantages of tapping the 'Sukuk' bond market for infrastructure development financing.

Boontuck Wungcharoen, CEO of Thai Military Bank (TMB) speaks to Greg Lowe about the restructuring plans of the bank and its commitment to better service the Thai market amid crisis. Q: You started as TMB CEO in July, just before the financial crisis took hold. How has the ride been for you so far?It is never dull. I see opportunities how TMB can differentiate itself from other Thai banks by providing better services to the market. There are a lot of untapped customers, consumers, retail; even things like wealth management that [doesn’t] really exist in the Thai market.