Asset acquisition to fuel expansion for RHB Thailand
(23 May 2013 – Thailand) Malaysia’s RHB Bank Bhd Thailand is currently raising more capital through asset acquisition to fuel expansion.
The Thai unit of Malaysia’s fourth-largest lender intends to boost capital to continue an aggressive expansion plan.
RHB Bank Thailand country head Thiti Musuwan said the Bangkok branch as paid-up capital of US$67 million (A$67 million) with plans to raise its capital base for growth.
RHB is aiming for total asset growth of 45 percent to US$388 million this year.
Plans call for expanding the total loan portfolio by 50 percent to US$201 million this year, by targeting medium-sized Thai and foreign companies.
RHB also plans to open two branches upcountry pending approval by the Malaysian central bank. The Bank of Thailand allows offshore banks to open up to 20 branches nationwide under the second phase of the country's financial sector master plan.
With a commercial banking license, RHB Thailand can provide a full range of financial services such as retail banking. It now offers only wholesale banking.