BankThai Plc (BT) has officially changed its name to “CIMB THAI Bank Plc” after Malaysia’s CIMB Group fully took control of the Thai bank in early January.
CIMB, Malaysia’s second largest financial services provider which is owned by Bumiputra-Commerce Holdings Bhd, became the single largest shareholder in BankThai with 93.15 percent of the stake after purchasing of a 42.13 percent stake in the Thai bank from the Financial Institutions Development Fund (FIDF) for 5.9 billion baht on November 5 last year and the additional shares from a tender offer closed on …

Dr.Subhak Siwaraksa has become the new president and chief executive officer of BankThai, currently controlled by Malaysia’s CIMB Group, since March 17, 2009.

The appointment of Dr.Subhak, former chief executive officer of TMB Bank, was reported to the Stock Exchange of Thailand (SET) after its board of directors’ proposal had received an approval from the Bank of Thailand.
Dr.Subhak, 52 years old, received a Bachelor’s degree in English literature and economics from Georgetown University, USA, and a Master’s degree from Fletcher School of Law and Diplomacy, Tufts University, USA, and a PhD …

Malaysia’s CIMB Group yesterday announced it controls 92.04 percent of BankThai after shareholders holding 49.91 percent of BankThai shares, or 3.33 billion shares in total, accepted its tender offer which had closed on January 6.
CIMB, Malaysia’s second largest financial services provider which is owned by Bumiputra-Commerce Holdings Bhd, became the single largest shareholder in BankThai after completing its purchase of a 42.13 percent stake in BankThai from the Financial Institutions Development Fund (FIDF) for 5.9 billion baht on November 5 last year. Later, on November 20, CIMB made a tender …