Bangkok – The Ministry of Finance has prepared a budget of 10 billion baht to purchase shares to increase the capital of TMB and Thanachart banks following their merger.
Finance Minister Apisak Tantivorawong said the purchase of new shares will allow the Ministry to retain approximately 25% shares in the merged bank, similar to the amount it currently owns with TMB. The funding will be allocated from the Vayupak Fund.
Apisak said the consolidation of these two banks will create a more robust financial institution, which will benefit the Ministry of Finance as a shareholder. The approval of the merger however may or may not be completed within the term of this government, pending the processes from both banks.
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