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Finance

Two Thai banks swung to trouble

By admin ⋅ May 8, 2008 ⋅ Email this post Email this post ⋅ Print this post Print this post ⋅ Post a comment

Prime Minister Samak Sundaravej told the NBT on Thursday that a foreign ambassador had approached him with a bidding offer to buy two Thai troubling banks during his visit at a neighboring country.

He said he was rather surprised as he himself never heard of such thing.

“They happened to know. They want to buy both the banks,” the PM said. “It is useless to inject them fresh money from the Financial Institutions Development Fund (FIDF) to see we finally have to sell them. This is unusual.”

Mr. Samak admitted that there are two banks on the for-sale listed. Preparation processes had been done long before his office and are just ready.

A news source reported that, after the program, the FIDF lines got hot fired from being received huge public calls in seeking clearer information.

FIDF manager Tong-urai Limpiti declined to give comment on Mr. Samak interview saying she personally doubted which the banks Mr. Samak was talking about.

Bank of Thailand assistant governor Sorasit Soontornkes admitted that this is a very sensitive issue and affects the whole financial market, which would result to huge banks’ deposit accounts withdrawal.

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