Rutt Phanijphand, chairman of executive directors, fourth right, and executives of Land and Houses Bank, welcome James Chen, president of CTBC Bank, fifth right, and CTBC’s management team last week.
Rutt Phanijphand, chairman of executive directors, fourth right, and executives of Land and Houses Bank, welcome James Chen, president of CTBC Bank, fifth right, and CTBC’s management team last week.

CTBC and LH Bank executives discuss joint action plan

Corporate June 06, 2017 16:40

By The Nation

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Taiwan-based CTBC Bank’s management team visited their opposite numbers at Land and Houses Bank (LH Bank) last week to discuss the institutions’ joint action plan.



Rutt Phanijphand, LH Bank chairman of executive directors, along with executives of the Thai bank, and James Chen, president of CTBC Bank, accompanied by the bank’s management team, met to discuss the action plan and operational process for their partnership following CTBC’s acquisition of a 35.6-per-cent stake in LH Financial Group (LHFG), the holding company of LH Bank. 

The funds for the acquisition are expected to be injected into LHFG by the end of July.

LHFG and LH Bank are seeking a new chairman to succeed Anant Asavabhokin, who resigned from his position after recently being issued with a Department of Special Investigation summons over alleged money laundering.