The state-run Islamic Bank of Thailand has set a goal to be among the top three Islamic banks in Asia with asset size of 300 billion baht within the next five years, said president Dheerasak Suwanyos.
The target is ambitious considering it has been in business for only 10 years. At present, Maybank Group is the largest Islamic bank in Asia with assets of 200 billion baht, followed by CIMB Bank and RHB Bank. All three are based in Malaysia.
Mr Dheerasak said to achieve the target, the IBank hopes to increase its assets by 25 billion baht a year until 2017 from 114 billion baht today.
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