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BULLETIN: Singapore's DBS Thai Unit Merger Likely to Be Positive for TMB's Franchise Jan 04
Standard & Poors, Jan 2004
Abstract
SINGAPORE (Standard & Poor's) Jan. 30, 2004--Standard & Poor's Ratings Services said today that the recent announcement by DBS Bank Ltd. (DBS Bank; A+/Stable/A-1) to merge its 51.7% Thai subsidiary, DBS Thai Danu Bank (DTDB) with Thai Military Bank Public Co. Ltd. (TMB; Bpi) is likely to have a positive influence on TMB's franchise. Standard & Poor's had affirmed the ratings on DBS Bank (A+/Stable/A-1) on Jan. 29, 2004, after the announcement. The proposed merger is subject to approvals from the relevant local authorities as well as shareholders of TMB and DTDB. However, upon the merger completion, the combined TMB-DTDB entity (with an estimated asset size of Thai baht [THB] 486 billion [US$12.4 billion]) is expected to emerge as the...
Companies mentioned in this report are: DBS Bank Ltd.,TMB Bank Public Co. Ltd.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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