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Economy

King Vajiralongkorn becomes major shareholder in Thailand's third-largest bank

Crown Property Bureau has transferred 3.3% stake in Siam Commercial Bank worth $500m

BANGKOK -- King Maha Vajiralongkorn Bodindradebayavarangkun has personally become a major shareholder in Siam Commercial Bank (SCB) following the transfer this week of shares held by the Crown Property Bureau (CPB) valued at about $500 million. 

The CPB manages assets owned by the Thai crown, including prime real estate in Bangkok and upcountry, and shareholdings in major listed companies such as SCB and Siam Cement Group (SCG).

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