Bangkok Bank to strengthen capital base

Taking advantage of a 50% rise in its share price so far this year, Bangkok Bank has announced plans to re-finance Bt46 billion ($1.15 billion) of expensive hybrid securities undertaken at the height of the financial crisis. The move has been expected all year and many believe Kasikorn Bank (the old Thai Farmers Bank) may follow suit with plans to re-finance up to Bt40 billion ($1 billion) in hybrids.