The Small and Medium Enterprise Development Bank of Thailand (SME Bank) has appointed a new board of directors as part of the military junta's efforts to shake up the boards of state enterprises.
The new appointments were approved at a shareholders' meeting yesterday.
The meeting heard that the appointments had already gained National Council for Peace and Order endorsement.
Bank of Thailand assistant governor Salinee Wangtal was named chairwoman of the board.
The eight others named included representatives from the Finance Ministry along with Anusorn Muttaraid, executive director of the private company Delta Electronics (Thailand).
Mrs Salinee will retire from her current position on Sept 30.
During her tenure, she led the rehabilitation of Nakornthon Bank, one of the hardest hit local banks during the 1997 financial crisis.
SME Bank is one of the loss-making state agencies that the State Enterprise Policy Office has required to submit a business rehabilitation plan.
In the rehabilitation process since 2012, it needs to address its high level of non-performing loans, which stood at 31.5 billion baht or 33.7% of outstanding loans at the end of 2013.
Past loan approvals by former SME Bank executives are also under investigation, as some unusual approvals have been discovered, with speculation that this is evidence of undue influence by politicians.