The Industrial Finance Corporation of Thailand (IFCT) is likely to become a commercial bank next year, focusing on long-term industrial investment, president Anothai Techamontrikul has said.
This year, some 15 bn baht will be earmarked for small- and medium-sized enterprises (SMEs). IFCT aims to increase new lending to 36 bn baht from 30 bn baht last year.
Mr Anothai said the bank would focus on long-term investor clients. ``Offering a variety of flexible structures will be our key strategy to attract customers and strengthen the institution's position as a recognised industrial bank.''
IFCT initially planned to increase capital to 21 bn baht from 11 bn baht after the Finance Ministry approved its five-year business plan, he said.
The new capital would enable IFCT to lend at least 100 bn baht, he said, adding the new shares would be placed with both institutional and retail investors as well as strategic partners.
