ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Economy

Taiwan's CTBC buys into Thai bank to bolster Asia presence

Thailand’s Land and Houses Bank is linking up with Taiwan’s CTBC Bank after searching for a suitable expansion partner.

BANGKOK -- Taiwan's CTBC Bank has agreed to acquire 35.6% of LH Financial Group, the parent of Thailand's smallest commercial lender, Land and Houses Bank, for 16.6 billion baht ($465 million).

     LH Financial Group, which controls 99.99% of LH bank, will offer 7.5 billion new ordinary shares through a private placement to CTBC Bank at 2.2 baht per share. The transaction is due for completion by the end of the third quarter.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more