The Malaysian Insider

KUALA LUMPUR, Dec 14 — Maybank is not making any bid for a stake in Thailand’s Siam City Bank (SCIB), as speculated in recent news reports.

In a statement today, Maybank said its regional growth strategy remains focused on organic growth in key markets while creating synergies to extract the best value from regional acquisitions.

The news reports indicated that Maybank, HSBC Plc, Standard Chartered Plc, Australia & New Zealand Banking Group, Thanachart Capital and Bank of Nova Scotia, are among those, expected to bid for a stake in SCIB.

SCIB was established in 1941. It is at present the seventh largest bank (asset size) in the Thai commercial banking industry. As at the end of September this year, SCIB had 411 branches nationwide. — Bernama

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