(Thailand) A change of image is on the cards for Thai Military Bank as the bank – which recently failed to secure investment from ANZ – tries to become more marketable.According to deputy permanent secretary of the finance ministry, Sommai Phasee, the bank is considering changing its working title to TMB Bank.
The bank admitted it is copying Singapore’s DBS Bank, which reverted to the acronym from its full name of Development Bank of Singapore.
The bank is also attempting to become leaner by restructuring its processes and procedures and moving to a similar salary base as other private banks.
Its major shareholders have said they will exercise their rights to new shares during September’s subscription period. Following ANZ’s decision not to invest in the bank, the local Finance Ministry announced it may sell its shares in the bank at a discount price.