A bank merger in Thailand may finally give Bank of Nova Scotia a path to retreat from the Southeast Asian nation after three years of trying. Thai lenders Thanachart Bank PCL and TMB Bank PCL are in talks to merge in a deal supported by Thailand’s government. A bank merger in Thailand may finally give Bank of Nova Scotia a path to retreat from the Southeast Asian nation after three years of trying. In 2010, the Toronto-based lender contributed about $650 million in capital to Thanachart Bank as part of a takeover of Siam City Bank that year. Thanachart Bank is the sixth-largest bank in Thailand and is 51 per cent owned by Thanachart Capital PCL, a publicly traded company in Bangkok.

Source: thestar January 08, 2019 14:37 UTC