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Published on March 19, 2008

Devadason was appointed to the bank's top position last month, replacing the chief, who had finished his term. Before moving to Thailand, Devadason was CEO of the Tokyo branch of Standard Chartered.

All Standard Chartered branches, including the Thailand branch, have an open opportunity to acquire stakes in other banks, in order to expand business, Devadasom said.

Asked if he had any interest in acquiring shares in BankThai or Siam City Bank from the Financial Institutions Development Fund, Devadason said the bank had to study each case.

"The bank branches over the globe have been expanding through both organic and inorganic growth, and the Thailand branch will also follow this. We hope to be a good-quality medium-sized bank," he said.

The new CEO plans to grow both corporate banking and consumer finance in Thailand. The bank plans to concentrate on mortgages, wealth management and SME loans this year. This is on the basis of the high growth potential of these areas.

Somruedi Banchongduang

The Nation