BANKING
BAY likely to acquire HSBC retail loans pending approval
- Published: 27/12/2011 at 03:36 AM
- Newspaper section: Business
UK-based HSBC is reported to have succeeded in divesting its retail banking business here _ worth 30-40 billion baht _ to the Bank of Ayudhya (BAY).
According to a source in the banking industry, BAY is seeking approval from the Bank of Thailand to acquire HSBC's retail business.
The deal is expected to be complete early next year, said the source.
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About the author
- Writer: Somruedi Banchongduang
- Position: Business Reporter
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