IFC proposes $150m investment in Thai bank

The development finance institution said in a proposal that the investment would help increase access to financial services for Thailand’s underserved small and medium-sized enterprises (SMEs). IFC would also assist TMB with risk management.

TMB was established in 1957 as Thai Military Bank to offer financial services to members of the Thai military. It became a fully commercial bank in 1973. In 2004, Thai Military Bank merged with DBS Thai Danu Bank and the Industrial Finance Corporation of Thailand to form TMB Plc. in 2004. Thailand’s Ministry of Finance and ING between them own just over 50% of the lender.

TMB is headquartered in Bangkok and had 455 branches, 2,763 ATMs and ADMs, 31 exchange booths and more than 9,000 employees nationwide as of September 2016. Total deposits stood at THB697 billion ($19 billion), while the loan book was worth THB574 billion. SMEs account for approximately one third of TMB’s loans.

The bank had total assets of THB838.9 billion at the end of 2015, up from THB809.2 billion the previous year. Net profit fell to THB9.3 billion from THB9.5 billion over the same period.

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• Topics
• Southeast Asia
• PIPEs
• Financials
• Thailand
• IFC