Financial and Banking News


ABC Takes 25% of Thai Bank

Arab Banking Corporation (ABC) last week announced that it had acquired approximately one quarter of Thailand's 12th largest commercial bank, the Union Bank of Bangkok ABC did not reveal details of the price, but said that Union Bank had end-1986 shareholders' funds of 733mn baht ($28mn) and total assets of 14bn baht ($550mn), with 83 branches in Thailand. According to the ABC statement, it intends to take an...