CTBC Bank to boost stake in Thai financial companyBy Kao Shih-ching / Staff reporterCTBC Bank (中國信託銀行) would increase its investment in LH Financial Group Public Co by acquiring another 2.33 billion shares of the Thai company, CTBC Financial Holding Co (中信金控) said yesterday after its board of directors approved the proposal. The financial conglomerate still needs to obtain the approval of the Financial Supervisory Commission for the investment, CTBC spokeswoman Chiu Ya-ling (邱雅玲) told a news conference in Taipei. The deal, which would cost CTBC Financial NT$3.9 billion (US$136.7 million), would raise its stake in the Thai company from 35.6 percent to 46.6 percent, making it the largest shareholder, Chiu said. A sign displaying the logo of CTBC Bank is pictured outside the company’s headquarters in Taipei on April 13 last year. LH Financial Group focuses on the banking business, with its banking unit, LH Bank, ranking 13th in terms of assets among Thai banks, Chiu said.

Source: Taipei Times March 31, 2021 15:56 UTC