Major banks

In what may be the biggest deal in Cambodia’s financial sector history, Thailand-based Bank of Ayudhya has reached an agreement to acquire the local microfinance institution (MFI) Hattha Kaksekar, with the deal expected to be valued at upwards of $140 million. In a statement released on ...

The Thai cabinet approved a budget of 52.82 billion baht on 26 January to join the China-led Asian Infrastructure Investment Bank seen as a rival to the US-led World Bank, government spokesman Sansern Kaewkamnerd said. Keep reading ...

The Thai government’s megaproject investment is likely to use domestic lending sources in the initial phase with foreign lenders joining in the later stage, says the Asian Development Bank (ADB). Based on discussions with the Finance Ministry, Yasushi Negishi, the country director for the ADB’s Thailand ...

Though it’s extremely early days, experts this week welcomed Cambodia’s membership to the nascent China-led Asian Infrastructure Investment Bank, saying it would provide much-needed diversity of funding for the nation’s infrastructure and connectivity needs. Keep reading ...

Chinese President Xi Jinping launched a new international development bank seen as a rival to the U.S.-led World Bank at a lavish ceremony on 17 January, as Beijing seeks to change the unwritten rules of global development finance. Despite opposition from Washington, U.S. allies including Australia, ...

Despite the fact that the Bank of the Laos recently declared a lower interest rate for deposits and loans, many banks in Laos believe the number of depositors and borrowers will not decrease in the years to come. ACLEDA Bank Lao Ltd. is one of several ...

Thailand’s Board of Investment said on 12 January it approved applications worth about 800 billion baht last year, missing its target of 1.4 trillion baht, but up from 724.7 billion baht in 2014. The investment agency did not meet its target in 2015 as some applications were submitted ...

The State Bank of Vietnam reduced the dong’s reference rate for the first time since August, after saying over the weekend that it is moving to a more market-based methodology in setting a daily reference rate versus the dollar.   It lowered the fixing by 0.03 percent ...

The Bank of Thailand trimmed its 2016 economic growth forecast on Friday, reflecting expectations of zero export growth and suggesting the military government will continue to struggle with a sluggish economy. At the same time, the central bank nudged its growth estimate for this year up ...

The China-backed Asian Infrastructure Investment Bank has been formally established and is expected to be operational early next year, and its head reaffirmed the lender will be “lean, clean and green”, Xinhua news agency said on 25 December. The setting up of the bank came after ...