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WHOLESALE BANKING | Cesar Tordesillas, Thailand
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Kiatnakin Bank's merger with Phatra to be finalised by August

Kiatnakin Bank plans to complete its merger with Phatra Capital by August, with revenue from the integrated business to be recognised by the fourth quarter.

 

According to Kiatnakin Bank's president and CEO, Tawatchai Sudtikitpisan, Phatra Capital will be delisted following completion of business integration.

KK and Phatra last December agreed to a merger deal worth 7 billion baht.

The transaction involves swapping one Phatra share for 0.9135 Kiatnakin shares pending shareholder approval next month.

"The integration will raise our share of the capital market," said Mr Tawatchai.

"Phatra will oversee all capital market business while Kiatnakin Bank remains in banking. As a result, we have focused on both financial markets and banking," he notes.

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