Thais to emphasize rural development as guideline in awarding bank licenses

Article Abstract:

Thailand has developed strict guidelines governing the granting of new bank licenses. The main objective of the new guidelines will be to ensure that newly-formed banks will provide adequate financial services to fund rural development. However, analysts believe that banks which receive licenses will find it difficult to establish themselves because of the shortage in experienced bank personnel. They will also have to establish their own banking networks that will link their urban and rural operations.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Administration of Urban Planning and Community and Rural Development, Banking Regulation NEC, Rural Development NEC, Rural development, Banking law

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Thailand's opening of bank sector draws a varied group of applicants

Article Abstract:

The Thai government's call for application for bank licenses attracted a highly diverse group of candidates. The expected applicants were in the list, including Italian-Thai Development PLC and United Communication Industry PLC. However, surprise applicants were also found. These include Thai Pineapple PLC and Thai Vegetable PLC. However, the most unexpected applicant was the War Veterans Organization of Thailand, which provides social services for the country's veterans and their families.

Foreign banks

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Citibank mulls FBCB stake

Article Abstract:

Citibank NA is holding preliminary talks about plans to acquire a majority interest in First Bangkok City Bank PCL (FBCB). The move comes amid a number of other foreign banks that are talking to their Thai counterparts regarding similar agreements. The bustle of takeover plans follows the decision of the Thai government to partially cancel restrictions on foreign shareholding in October 1997.

Planning, Citibank N.A. (New York, New York), First Bangkok City Bank PCL

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