TMB and Thanachart Bank announce merger plan

21 Sept 21:47 Key points summarised by AI

TMB and Thanachart Bank have signed a non-binding agreement to merge, aiming to become Thailand's sixth-largest lender.
TMB will finance the merger through debt and equity, issuing new shares to Thanachart Capital, Bank of Nova Scotia, and existing TMB shareholders.
The combined bank will manage 1.9 trillion baht in assets and serve ten million retail customers, with assurances that no staff layoffs will occur.
The Thai Finance Ministry, ING, and Thanachart Capital will be major shareholders in the merged bank, with the Ministry investing approximately 11 billion baht.
The merger process involves organizational restructuring after regulatory approval, with financing through debentures expected to be completed by December.

New home loan scheme aims to boost property sector with Bt125 billion

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.