CIMB_20190422100900_theedgemarkets

Improved FY19 earnings seen for CIMB Thai Bank

Improved FY19 earnings seen for CIMB Thai Bank Upgrade to outperform with an unchanged target price (TP) of RM6.10. CIMB Thai Bank Pcl’s three months of financial year 2019 (3MFY19) earnings exceeded our expectations accounting for 41% of our full-year estimates, attributed to lower-than-expected impairment allowances. Asset quality improved in tandem with the lower impairments. We…

MOU SIGNING Thai, Lao central banks enhance cooperation

MOU SIGNING Thai, Lao central banks enhance cooperation

MOU SIGNING Thai, Lao central banks enhance cooperation The Bank of Thailand and the Bank of Laos PDR have signed a memorandum of understanding (MOU) on cooperation in the areas of financial innovation and payments systems in Chiang Rai yesterday after the meeting of the 5th Asean Finance Ministers’ and Central Governors’ Meeting and related…

Narrowed focus for bank mergers

Narrowed focus for bank mergers

Narrowed focus for bank mergers THE Secondary Mortgage Corporation (SMC) and the Government Housing Bank (GHB) will be merged under a plan to cut costs and boost efficiencies, but it has emerged that no other state-run lenders are in the frame to be combined. While Finance Minister Apisak Tantivorawong said that a draft law would…

Southeast Asia Launches $1 Billion Facility For Green Infrastructure

Southeast Asia Launches $1 Billion Facility For Green Infrastructure

Southeast Asia Launches $1 Billion Facility For Green Infrastructure CHIANG RAI, Thailand (Reuters) – The Association of Southeast Asian Nations (ASEAN), the Asian Development Bank (ADB) and major financiers on Thursday launched a facility to spur more than $1 billion in green infrastructure investments across Southeast Asia. The facility offers loans and technical assistance for…

Thailand Post branches out into banking

Thailand Post branches out into banking

Thailand Post branches out  into banking Thailand Post has joined hands with 10 banks to provide money deposit services via its 1,200 branches and counter services nationwide. The firm expects 50,000 transactions per month with value of around Bt700 million in the next three months. Thailand Post president Smorn Terdthumpiboon said the firm is partnering…

Krungsri shifts from asset-driven commercial focus to being trusted banking partner for corporate clients

Krungsri shifts from asset-driven commercial focus to being trusted banking partner for corporate clients

Krungsri shifts from asset-driven commercial focus to being trusted banking partner for corporate clients Krungsri (Bank of Ayudhya) has unveiled its 2019 commercial-banking business direction to become a trusted banking partner, shifting from an asset-driven strategy to provide advice and total solutions to serve the different needs of corporate customers. With a loan-growth target of…

First Bank In Thailand To Use Facial Recognition To Open Accounts

First Bank In Thailand To Use Facial Recognition To Open Accounts

First Bank In Thailand To Use Facial Recognition To Open Accounts Krungsri Bank has introduced facial recognition for verifying the identities of its customers Krungsri (Bank of Ayudhya) has introduced facial recognition through electronic Know Your Customer (e-KYC) technology for verifying the identities of people as they open a deposit account. Under the Bank of Thailand’s…

$11.7 Trillion Rated Debt Have High Risk Exposure To Cyber-Attacks

$11.7 Trillion Rated Debt Have High Risk Exposure To Cyber-Attacks

$11.7 Trillion Rated Debt Have High Risk Exposure To Cyber-Attacks As the potential for significant cyberattacks rises globally, the growing intersection of supply chains, connectivity and access to data is creating new vulnerabilities for governments and businesses. “We view cyber risk as event risk that can have material impact on sectors and individual issuers,” Moody’s…