BangkokGuy
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Posts by BangkokGuy
Siam City Bank attracts interest from HSBC
Feb 3rd
Bank of Nova Scotia and HSBC Holdings Plc are among remaining candidates to buy a 47.6 percent stake in Thailand’s Siam City Bank Pcl after three bidders dropped out, people with knowledge of the matter said.
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Hong Leong Bank Bhd. of Malaysia failed to submit a binding bid by a Feb. 1 deadline, the people said, asking not to be identified. CVC Capital Partners Ltd. dropped out on concern the Thai government won’t allow financial investors to control a local bank, one of the people said. Korea Development Bank said Feb. 1 it had abandoned plans to buy the stake. More >
Thai central bank may gradually raise rates
Feb 3rd
Thailand’s central bank expects to gradually tighten monetary policy this year as inflationary pressures grow, but rising prices are not yet a problem, a Bank of Thailand deputy governor said on Wednesday.
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“Any rate adjustment that will likely add to business costs should be phased in to avoid volatility. Hence it should be incremental to help the private sector adjust,” Deputy Governor Bandid Nijathaworn told Reuters in an interview.
The comments underline mounting pressure on central banks across Southeast Asia to raise rates. Some have tightened or signalled tightening is on the way in response to economic recovery and rising inflation. More >
