Former TMB Bank chief executive Boontuck Wungcharoen has won Bank of Thailand approval to sit on the Siam Commercial Bank (SCB) board.
The appointment took effect on Tuesday, SET-listed SCB said in a filing with the Stock Exchange of Thailand yesterday.
SCB's board of directors resolved at an April 19 meeting to appoint Mr Boontuck as director to fill a vacancy after the resignation of Kulpatra Sirodom, the bank said.
The bank dismissed an online media outlet's report that the Bank of Thailand sent Mr Boontuck to sit on the board and examine SCB's lending practices.
The report said the central bank played a role in recommending Mr Boontuck to sit on the board and probe the bank's heavy lending to three companies: Sahaviriya Steel Industries Plc, Pace Development Corporation Plc and Wind Energy Holdings.
SCB shares closed yesterday on the SET at 139 baht, down one baht, in brisk trade worth 1.12 billion baht.