Thai bank merger creates third-biggest lender

Three-way tie-up starts ball rolling in banking sector consolidation.

Thailand's banking industry consolidation is officially underway with the three-way merger of DBS Thai Danu Bank, Thai Military Bank and Industrial Finance Corporation of Thailand. The merger will create the Kingdom's fifth-largest banking group by assets.

The merged bank will have total assets of Bt677 billion $17 billion. It will become the country's third-largest lender with a loan book of Bt533 billion and will have a customer base of four million serviced from a network of 462...

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