State-owned Siam City Bank (SCIB) will become a full service bank within the next three years, adding subsidiaries during that period, and an asset-management company this year, its president said yesterday. The bank already operates a securities firm and an insurance firm as subsidiaries.
SCIB president Apisak Tantivorawong said the bank also aimed to start leasing and factoring operations. SCIB is 80 per cent towards its goal of becoming a universal bank, he said.
In its response to the Finance Ministry's master plan to consolidate the banking sector around a few big institutions, SCIB has said repeatedly that it would not merge with any other lenders. But Apisak said yesterday that the bank might consider a merger or acquisition to expand its size.
