Saturday, 23 November 2024
25 C
Singapore

Ayeyarwaddy Farmers Development Bank approves US$40M for Thailand’s Kasikornbank

On Saturday, Kasikornbank, a Thailand bank, revealed its plans to invest up to US$40 million in a 35% stake in Ayeyarwaddy Farmers Development Bank, a Myanmar’s institution after it got approval from the central bank of Myanmar. Kasikornbank, which is Thailand’s number two bank by market capitalization, said that the investment would be made through […]

On Saturday, Kasikornbank, a Thailand bank, revealed its plans to invest up to US$40 million in a 35% stake in Ayeyarwaddy Farmers Bank, a Myanmar’s institution after it got approval from the central bank of Myanmar.

Kasikornbank, which is Thailand’s number two bank by market capitalization, said that the would be made through a unit of the bank known as Kasikorn Vision, which has a budget of up to US$428 million (14 billion baht) for overseas businesses.

Most Thai banks have been grappling with the sluggish economic growth in Thailand’s crowded market and have been keen to expand their businesses overseas.

Siam Commercial Bank on Friday stated that it was planning to issue loans that are worth up to seven billion baht in the next five years in Myanmar after it received preliminary approval to start a subsidiary there.

Rival Bangkok Bank, on the other hand, took a controlling stake in PT Bank Permata, an Indonesian bank for US$2.7 billion in December 2019.

Hot this week

T-Mobile network infiltrated by hackers linked to China

China-linked hackers breached T-Mobile, accessing officials' data. T-Mobile says customers' data remains largely unaffected.

Xiaomi’s Q3 2024 revenue exceeds expectations, driven by strong growth across key sectors

Xiaomi's Q3 2024 revenue reaches a record high, with growth across smartphones, IoT, and EVs, and continued investment in cutting-edge technology.

OPPO Singapore launches ‘Find 24-Hour Miracle’ photography contest

OPPO Singapore launches the #Find24HourMiracle photography contest, inviting participants to capture Singapore’s beauty with the new OPPO Find X8 Series.

Microsoft’s AI agents in Microsoft 365 to handle your mundane tasks

Boost productivity with Microsoft 365's new AI agents, handling tasks in SharePoint, Teams, and Planner for better efficiency and collaboration.

UGREEN Surge Protector Power Strip review: Fast charging meets smart safety

The UGREEN Surge Protector Power Strip offers fast charging, 10-device support, and surge protection but faces durability concerns.

Anglo-Chinese School students win top prize in Samsung Solve for Tomorrow 2024

Anglo-Chinese School students win Samsung Solve for Tomorrow 2024 with innovative smart glasses for the hearing impaired. Other projects celebrated.

DXC Technology and ServiceNow partner to accelerate generative AI adoption for businesses

DXC Technology partners with ServiceNow to fast-track generative AI adoption through a new Centre of Excellence, combining industry expertise and AI solutions.

Avenir CRYPTO unveils US$500 million initiative to lead global crypto innovation

Avenir CRYPTO’s US$500M initiative tackles market fragmentation and boosts crypto trading innovation at its flagship event in Singapore.

New STEM foundation launched at Expand Space to inspire youth in underserved communities

Expand Space 2024 launches a new STEM Foundation to empower underserved youth with hands-on opportunities in Deep Tech, robotics, and AI.

Related Articles

Popular Categories