The Small and Medium Enterprise Development Bank of Thailand (SME Bank) has made its formal debut with the proclamation yesterday in the Royal Gazette of the new law governing the bank.
Formerly the Small Industry Finance Corporation (SIFC), the bank will initially increase its capital by three billion baht to 5.8 billion early next year, and eventually to 10 billion baht.
President Samran Bhuanantanondh said the SME Bank planned to seek foreign banks from Japan and Germany next year as strategic partners, with a combined stake of no more than 30%.
He said the bank planned to expand its services and have up to 65 branches next year, compared with 44 at present. It expects to lend up to 30 billion baht next year, almost double this year's total of 16 billion baht.
The SIFC made loans totalling 6.5 billion last year and 1.6 billion in 2000.
Source Bangkok Post
