Announcement on the Dissolution of Banking Business of ANZ Bank (Thai) Public Company Limited
published : 29 Nov 2022 at 09:00
Pursuant to the approval letter of the Bank of Thailand ("BOT") dated 18 August 2022, which approved the dissolution of the banking business as a subsidiary of a foreign commercial bank of ANZ Bank (Thai) Public Company Limited ("Company"), and the resolutions of the Extraordinary General Meeting of Shareholders No. 2/2565 held on 16 September 2022 which resolved to approve the dissolution of the Company's banking business as a subsidiary of a foreign commercial bank with effect on 30 November 2022, and the return of commercial banking and authorised juristic person licenses to the Minister of Finance on 1 December 2022, which is in accordance with the approval requirements of the BOT.
The Company would like to announce that the Company will dissolve its banking business as a subsidiary of a foreign commercial bank with effect on 30 November 2022.
In line with ANZ Banking Group’s strategy to build a simpler, better capitalised bank, ANZ Banking Group has been working closely with the BOT to change its presence in Thailand from a subsidiary of a foreign commercial bank to a representative office of a foreign financial institution. The BOT has approved ANZ Banking Group’s application to set up the representative office which will be proceeded in accordance with the approval from the BOT.
ANZ Banking Group remains committed to its strong footprint across Asia supporting multinational customers with trade and capital flows throughout the region and its home markets of Australia and New Zealand.
Please be informed accordingly.
Announced on 27 November 2022