Bank Of Asia Now Uob

[Ling Kae]

Hi, last year when I was in Thailand I was mostly changing my money at Bank of Asia but this year they are called UOB. Who are they and what happened to Bank of Asia? The rates this year are not as competitive as they use to be.

[jbaldwin]

Bank of Asia was sold by its former owner to UOB, a bank based in Singapore. The name was changed to UOB (Thailand).

[stumonster]

bank of asia used to have the best exchange rates so it is sad to see them gone.

not sure who now has the best rates.

[Rinrada]

Bank of Asia was bought out by the Dutch outfit ABM following on to the bad old days when all the Thai banks were almost skint and up for grabs.

Seem to remember that Standard Charter and some others did the same thing...bought cheap...sell...

Few years up the line and after turning them round they flogged them off at a nice profit.

They was also a bit of confusion at the time about foreign banks not being allowed to use their own names in LOS...had to be Thai/related hence No Barclays-Nat West -Bank of Jockland...Citi-B is US (Gota deal) and HSBC although really Scottish has heavy Honkers/Shankers connections...so mai pen rai and all that.. krup..

Bit like Tescos which did a deal with Lotus and held onto the name just to keep the Thais happy (they think of it as a Thai Company but its about 99% UK)...Compromise..innit

Makro-Carr4-Tops-Lobinsons are so unusual that no body really knows where they are based (in LOS)