Bangkok Bank to open new company in China
Bangkok Bank, Thailand’s largest commercial bank will open its first company in China, Kosit Panpiemras, Chairman of the Board of Executive Directors said Friday.
The Shanghai-based company, will provide banking and other services in the country, Kosit, a former finance minister and former deputy prime minister said in an interview with Xinhua on the sideline of a seminar on Sino-Thai relations.
Currently, Bangkok Bank has branches opened in four cities in China, Beijing, Shanghai, Xiamen, and Shenzhen to offer financial products and services to meet customer needs, according to the bank’s website.
The preparation will be finished early December and the company will open after that, the president said explaining that the 65 anniversary of the establishment of the bank will fall on Dec. 1,the chairman said.
The company will have a registered capital of four billion yuan(586 million U.S. dollars), he said.
“Bangkok Bank will expand its services in China gradually and the first thing is to make ourselves strong before competing with others,” he said. “We will explore Indian market after the company is established in China.”
Bangkok Bank is the first Thai commercial bank who established its business in China’s mainland since 1986, starting with a representative office in Beijing before upgrading to a full service branch in 2005, being the first and only Thai bank to operate its business in Beijing.
Tags: bank, China Finance