Bangkok--4 Apr--Thanachart
National Finance Public Company Limited returns its finance business to the Finance Ministry and changes its name to Thanachart Capital Public Company Limited, which will now serve as a holding company of an integrated financial service group, responsible for overseeing Thanachart Group’s business policies with Thanachart Bank being the main distribution channel for the Group’s numerous products and services. The Bank aims to have 250-300 branches by 2008.
Suphadej Poonpipat, President and Chief Executive Officer of Thanachart Capital Public Company Limited, said that the shareholders’ meeting adopted a resolution approving National Finance Plc and Thanachart Bank to submit their business structure reorganizing plan in line with the ‘One Presence’ policy in the Financial Sector Master Plan to the Finance Ministry. In response, the Ministry gave its approval to Thanachart Group to proceed with the proposed plan. In this regard, Thanachart Group has already transferred deposit-taking service and lending service from National Finance Plc to Thanachart Bank. The Bank will now be Thanachart Group’s only one financial institution that takes deposits from the public. National Finance Plc already returned the finance business license to the Finance Ministry on March 31, 2006. National Finance Plc was also ready for registering the change of its name with the Commerce Ministry on April 3, 2006.
Supported by a resolution adopted at the shareholders’ meeting, the Company’s new Thai name after returning the finance business license would be ‘บริษัท ทุนธนชาต จำกัน (มหาชน)’ with a corresponding abbreviated name of ‘บมจ. ทุนธนชาต’ and its
English name would be ‘Thanachart Capital Public Company Limited’ with a corresponding abbreviated name of ‘TCAP.’ In this regard, Thanachart Capital Public Company Limited will serve as a financial holding company of Thanachart Group, responsible for overseeing the business operation policies of the Group, managing the Group’s overall image as well as giving support to various business operations of the Group’s member companies.
Mr. Suphadej said that, as regards the direction of Thanachart Group’s future business operations, the Group will go full steam ahead and will be ready for creating growth in its existing businesses with Thanachart Bank being the main distribution channel for the Group’s various products or services. Thanachart Bank plans to open about 100 new branches in 2006 and by 2008, it will have 250-300 branches.