The Thai Credit Retail Bank (TCRB) will increase its capital by 50% to 3 billion baht in a bid to strengthen its financial position and accommodate future business expansion.
In a statement on the capital increase plan, it said half the 1-billion-baht increase will be raised this year and the other half next year.
The TCRB is also in close talks about selling its shares to certain potential investors, but details have not been disclosed.
As of Sept 30, it had total assets of 24 billion baht.
The TCRB also reported it has restructured its management team and improved risk management in preparation for an aggressive new business strategy.
The new focus will be on lending services.
They will be geared towards mainly merchants, given the high potential and lower competition in this area compared with housing, car and SME loans and gold-backed credit.