TMB Bank and Thanachart Bank to form TMBThanachart Bank in a $47m deal.

TMB Bank, a commercial banking firm, and Thanachart Bank, a provider of banking services, agreed to form TMBThanachart Bank in a $47m deal. The merger is bring about the unique strengths of TMB and Thanachart to raise financial well-being for Thai people. In this regard, the company is one of the major shareholders of TTB with the equity stake of more than 20 percent and at the level which allows the Company to participate in the conduct of business of TTB.