Bangkok--29 Nov--TCRB
TCRB shareholders completed the sale of 25% shareholding stake in TCRB to Northstar Group, a Southeast Asia private equity firm which manages US$1.2 billion (36,000 million Baht) in committed equity capital. To-date, Northstar Group has invested in more than 20 companies across various sectors, including banking, insurance, retail, oil and gas, coal and mining services, oil palm and telecom.
The bank has also raised a total of Baht 500 million of new capital from its shareholders. This is part of the plan laid out by TCRB’s major shareholder, Thai Life Group, to inject Baht 1 billion of capital into the bank to strengthen its financials to support future growth. This brings the total paid-up capital of the bank to Baht 2,500 million. The bank plans to raise the remaining Baht 500 million in 2013.
Further, TCRB has recently added several senior banking professionals to its management team. Mr.Roy Gunara was appointed as Managing Director. Miss Sanannart Kulpaisantham was appointed as Head of Small Business Group.
Mr.Winyou Chaiyawan, CEO of TCRB, said, “The addition of Northstar Group, capital increase and new management team will significantly enhance TCRB’s long-term growth and financial stability. TCRB has adopted a new strategy to grow the bank as a niche player focusing on small business and micro segment in Thailand. We hope to tap into Northstar Group’s successful experience investing in institutions that focus in this segment such as Bank BTPN and BFI Finance in Indonesia. We are also hopeful that the new management team provide the relevant expertise to help the bank grow.”
TCRB targets to triple its total assets from Baht 22.4 billion to more than Baht 65 billion in the next 3 years. With the new capital injection, TCRB’s Capital Adequacy Ratio (CAR) will increase to 16%, which makes it one of the best capitalized banks in Thailand. This will provide the bank with a strong balance sheet to fund future loan growth, and further invest in its people, risk management system and branch network.
Additional information
Bank BTPN is a mass-market bank and the fifth largest commercial bank in Indonesia by branches with over 1,000 branches across Indonesia. As of September 2012, Bank BTPN’s total gross loans and book value are US$4 billion(122,000 million Baht)and US$750 million(23,000 million Baht) , respectively.
BFI Finance is one of the largest independent multi-finance companies in Indonesia. It provides consumer finance and leasing activities with ~200 branches and kiosks operating across Indonesia. As of September 2012, BFI Finance has approximately US$720 million(22,000 million Baht) of gross managed receivables and US$280 million(8,500 million Baht) of book value.
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www.tcrbank.com