Bankers support bank mergers

BANGKOK, April 25 (TNA) -- Key bankers support the government’s policy for the mergers of commercial banks as it will expand customer bases and enhance competitiveness. Payong Srivanich, president of Krungthai Bank, said he was happy with the cabinet’s approval for tax incentives to support banks’ mergers. The incentives would enable mergers but banks would have to study the matter carefully because they had different strong points and fundamentals. Mr Payong also said that mergers would expand customer bases and customers would benefit from improved services. Chartsiri Sophonpanich, president of Bangkok Bank, said his bank did not plan a merger but the idea would create regional competitiveness. Arthit Nanthawithaya, president of Siam Commercial Bank, said mergers would strengthen banks but the fundamentals of individual banks were key factors for mergers. (TNA)