Bank of Ayudhya shareholders yesterday approved its acquisition of the assets of GE Capital in five financial businesses covering credit card and insurance services, worth a combined Bt13.97b. The meeting also approved the bank’s purchase of auto leasing assets of the AIG Consumer Finance unit, CFG Service Ltd, worth Bt18m. The acquisition would expand the bank’s retail loan portfolio from 32% of total outstanding loans currently to 42%. The bank aims to expand its consumer loan ratio to 50%by the end of 2010. (Bangkok Post)
GE deals approved
You Might Also Like
Southeast Asia's economic future looks promising, largely due to its demographic advantage. With a young and dynamic workforce, a burgeoning middle class, and rapid urbanization, the region is poised for sustained growth and development in the coming years. Discover how these factors contribute to Southeast Asia's bright economic prospects.
Ugly Trading Session Leaves Thai Stock Market Index in Murky Waters The Thai stock market had recently done remarkably well...