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Thailand may offer incentives to encourage consolidation among local banks

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Thailand may offer incentives to encourage consolidation among local banks

Thailand's finance ministry is considering offering domestic commercial banks tax incentives to merge in order to gain scale and compete with overseas banks, Reuters reported Dec. 15, citing Apisak Tantivorawong, the country's finance minister.

The finance minister said Thai banks are small compared with Singaporean and Malaysian ones, and their small size is preventing them from doing business outside of Thailand.