Siam Commercial Bank raises funds for expansion

Thailand's third-largest bank by assets is raising its outstanding bond ceiling by US$3.2 billion.

Siam Commercial Bank Pcl said the shareholder approved plan will go to business expansion, and will give the bank flexibility in choosing means of funding.

"Over the past two years, SCB has expanded its business continuously in retail, SME and wholesale banking,” said Vichit Suraphongchai, Executive Committee Chairman.

“Therefore, we need more funds to support our business, and issuing bonds would allow us to manage liquidity more effectively.”