Thanachart reacts to possible Scotiabank divestment
THANACHART Capital yesterday said it still had a good working relationship with the Bank of Nova Scotia and understood and appreciated the changing strategy of Scotiabank and its policy of doing business in the Asia-Pacific region.
Scotiabank holds 48.99 per cent of Thanachart Capital, but reportedly has been considering a divestment of all or part of that stake.
Thanachart Capital said it would cooperate fully with the Canadian bank on the understanding that should Scotiabank ultimately proceed with the divestment, it would offer its stake to large, financially strong and reputable international financial institutions acceptable to Thanachart Capital with approval from the Bank of Thailand.
The new shareholder partner should also have the capacity to co-manage with Thanachart Capital in positioning Thanachart Bank as a first-tier financial institution, said Somjate Moosirilert, executive vice president of Thanachart Capital.
