More than a decade after its establishment, the Small Industry Finance Corporation has finally achieved its goal and upgraded itself to become a bank for small and medium-sized enterprises.
The SIFC, a 50:50 joint venture between the government and private sector, will be renamed the SME Development Bank, with operations to begin in January. The SME Development Bank Bill will be announced in the Royal Gazette next week.
Samran Bhuanantanondh, the SIFC president, said the bank would initially increase its capital by three billion baht to 5.8 billion early next year, and eventually to 10 billion baht.
The bank plans to seek foreign banks from Japan and Germany next year as strategic partners next year, with a combined stake of no more than 30%.
