Thai commercial banks may get incentives to merge, says finance minister

Photo: Reuters

Thailand’s finance minister on Friday said the ministry was considering a plan to offer tax incentives to encourage mergers among the country’s commercial banks to create institutions able to compete with foreign banks, including regional competitors.

“Our policy is not to force but to give incentives to motivate them into thinking… because Thailand does not have a bank that can be called a champion bank that can compete with overseas,” Finance Minister Apisak Tantivorawong told reporters in Bangkok.

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