TMB Wants To Be One Of Thailand's Leading Banks

[Jai Dee]

TMB wants to be one of Thai leading banks

Mr. Somchainuk Engtrakul, the Chairman of the Board of the Thai Military Bank (TMB) Public Company Limited, plans for the TMB to become one of the leading banks in Thailand by next year. Earlier today (May 18), he led a team of TMB executives to propose the company’s business plan to Financial Minister Chalongphob Sussangkarn.

Mr. Somchainuk said the TMB’s business plan has been improved, and it has a clear mission statement on how the bank will operate its business in the future. He says the plan has adjusted the capital and credit structures, and it also explains on how the bank will be profitable in the future.

The Finance Minister told the TMB executives to hold talks on further cooperation with the DBS Bank of Singapore as it is one of the major shareholders. The DBS Bank has supported the TMB’s plan to increase its capital, but the amount is still undisclosed.

Mr. Somchainuk says the TMB currently has a satisfactory and stable status, but the bank still has to increase its capital in order to strengthen the organization. He says once the capital has been increased, the management structure will be fine-tuned.

Source: Thai National News Bureau Public Relations Department - 18 May 2007