Thailand's Siam Commercial Bank (SCB) is planning to issue loan up to USD $ 214 million over the next five years in Myanmar

Thailand’s Siam Commercial Bank Pcl (SCB) is looking to issue loans up to 7 billion baht ($214 million) over the next five years in Myanmar after receiving a preliminary approval to set up a subsidiary there, it said on Friday.

The license allows Thailand’s third-largest lender by assets to open up to 10 branches in business areas. It will focus on Thai clients with investments in Myanmar in the first phase, Chief Executive Arthid Nanthawithaya said.

The bank has over 100 Thai business clients in Myanmar across consumer goods, energy and agro-industry sectors.

(Mizzima: mizzima.com/article/thailands-siam-commercial-bank-set-myanmar-subsidiary )

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