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Bank of Ayudhya's securities unit raises registered capital

Bank of Ayudhya PCL unit Krungsri Securities PCL increased its registered capital to 1.35 billion Thai baht from 600 million baht.

The capital increase aims to strengthen Krungsri Securities' financial position in supporting its three-year business expansion, the bank said Oct. 4. The company aims to expand its investment banking business, targeting foreign and domestic institutional customers, as well as individual clients.

Udomkarn Udomsab, managing director of Krungsri Securities, said the increase in capital reflects a significant increase in average monthly trading transactions. The securities firm also received a credit line worth 750 million baht from Bank of Ayudhya in case it needs extra funding to support its business, he added.

Bank of Ayudhya is a unit of Japan-based Mitsubishi UFJ Financial Group Inc.

As of Oct. 4, US$1 was equivalent to 33.35 Thai baht.