BOT extends its reach
Officials from the Bank of Thailand will conduct on-site examinations of the foreign branches of eight commercial banks this month.
The audits are aimed at improving the central bank's supervision of Thai banks to meet new standards set by the World Bank and International Monetary Fund, BOT deputy governor Bandid Nijathaworn said yesterday. The on-site examinations will be conducted annually. Previously, the BOT monitored foreign branches of Thai banks indirectly, through the banks' headquarters. First on the list of 41 foreign branches are several that conduct huge transactions. The combined assets of the foreign branches of Thai banks were Bt481.43 billion, or 7.3 per cent of total assets, as of last year. Bandid said the audits would be in-depth and would focus on branches in financial centres. He said BOT officials would examine each branch's deposits, lending and off-balance-sheet transactions, as well as asset assessment and risk management. Anoma Srisukkasem The Nation
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