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Siam Commercial Bank considers partnerships to strengthen units

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Siam Commercial Bank considers partnerships to strengthen units

Siam CommercialBank PCL is considering bringing on partners to help strengthen itssubsidiaries, The Nation reported May4, citing Arthid Nanthawithaya, the bank's CEO and deputy chairman.

The CEO stressed that taking on a partner does not mean the bankis walking away from its four subsidiaries — SCB Securities, SCB Asset Management,SCB Life Assurance PCLand Digital Venture.

The Thai bank is not making any moves to sell stakes in its units,including SCB Life Assurance, the CEO said, referring to recent rumors that thebank was considering sellingits stake in the insurance unit.