KTB says no policy to merge with TMB

BANGKOK, April 28 (TNA) -- The state-run Krung Thai Bank Public Co, Ltd says it has no policy to merge with TMB Bank Public co, Ltd, a small commercial bank in the kingdom. Krairit Euchukanonchai, vice chairman of Krung Thai Bank, explained to shareholders during annual meeting on Friday, that the rumour of the merger talks between the two banks followed an idea of Finance Minister Apisak Tantivorawong who saw that most banks in Thailand are still small. A possible merger would strengthen banks, according to Mr Apisak. However, the idea is not aimed at forcing small banks but it would offer certain tax incentive upon the merger. Mr Krairit said market talks on the issue emerged because the Ministry of Finance is a major shareholder of the two banks and many shareholders as well as stock investors believed that it could happen. (TNA)