TMB has been the topic of M&A speculation for months, ever since the Finance Ministry encouraged consolidation of Thai commercial banks. (File photo)TMB Bank has received multiple merger and acquisition (M&A) offers from financial institutions such as Thanachart Bank (TBank) and Krungthai Bank (KTB), says Finance Minister Apisak Tantivorawong. Mr Apisak's comments came after local media reported that ING (which holds a 25% stake in TMB), TBank and TBank major shareholder Bank of Nova Scotia (Scotiabank) would soon talk with Mr Apisak about a plan to merge TMB with TBank. The Finance Ministry is now the largest shareholder in TMB, with a 25.9% stake. The Finance Ministry said recently that it was exploring potential partners, both local and foreign, for TMB Bank, but KTB president Payong Srivanich had dismissed speculation over a potential consolidation of his bank with TMB.

Source: Bangkok Post December 19, 2018 21:55 UTC