CIMB focuses on Thai unit
(15 August 2012 – Thailand) Malaysia’s CIMB is looking to expand in Laos through its Thai unit, as the two countries share a historical and trade relationship.
Subhak Siwaraksa, president and chief executive officer of CIMB Thai, said that the bank had been asked by the Malaysia-based CIMB Group to study the Laos market in order to open branches there.
Siwaraksa said CIMB Thai plans to set up the first branch in Vientiane and another branch in Savannakhet, which is an important trading location as it borders Mukdaharn in Thailand, Vietnam and China.
At the beginning in Laos, CIMB Thai branch would provide financial services for consumer banking before expanding to trade finance and investment banking to corporate customers.
Siwaraksa said CIMB Thai plans to set up the first branch in Vientiane and another branch in Savannakhet, which is an important trading location as it borders Mukdaharn in Thailand, Vietnam and China.
At the beginning in Laos, CIMB Thai branch would provide financial services for consumer banking before expanding to trade finance and investment banking to corporate customers.
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