M&A transactions in Thailand on the road to recovery thaipr.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thaipr.net Daily Mail and Mail on Sunday newspapers.
Mazars in Thailand reports that M&A transactions in Thailand are beginning to recover as COVID-19 eases. Thai listed companies are actively entering M&A deals in both Thailand and Southeast Asia as a whole, while international private equity and venture capital investors are active in the Thai market
Jokowi introduces directors of Indonesian Investment Authority 16th February 2021
President Joko Widodo. (Rangga Pandu Asmara Jingga) Jakarta (ANTARA) - President Joko Widodo (Jokowi), at the Merdeka Palace, here Tuesday, introduced members of the board of directors of the Indonesia Investment Authority (INA) tasked with collecting alternative financing and endowments for infrastructure development.
In the INA board of directors, Ridha Wirakusumah, the former president director of PT Bank Permata Tbk, was appointed as president director or CEO of INA. I introduce Ridha as the CEO of INA. He is very experienced, a senior executive in banking and financial services, investment, and most recently the CEO at Bank Permata, President Jokowi remarked.
Listed banks report 32% dip in profits
published : 23 Jan 2021 at 04:00
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The average of 10 SET-listed commercial banks and subsidiaries is a 32% decline in combined net profit based on unaudited financial statements for 2020, largely attributed to higher loan-loss reserves.
Aggregate net profit stood at 138 billion baht last year. The double-digit year-on-year reduction in combined net profit was mainly due to higher loan-loss reserves allocated in preparation for economic uncertainties from the Covid-19 impact.
Bangkok Bank (BBL) reported the biggest decrease in net profit, tumbling by 52% year-on-year to 17.2 billion baht, as the bank allocated a substantial amount of expected credit losses (ECLs) as a buffer against bad debts.