Sunday, June 23, 2024

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Four major Thai banks will close branches in Laos

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Four major Thai banks, including Thai Military Bank, Bank of Ayudhya, CIMB Thai Bank, and Bangkok Bank, have decided to close their branches in Laos. The branches to be closed are Thai Military Bank’s Vientiane branch, Bank of Ayudhya’s Savannakhet branch, CIMB Thai Bank’s Vientiane branch, and Bangkok Bank’s Pakse branch in Champasak province. The banks cited stricter regulations and decreased business activities as the primary reasons for their withdrawal. The Lao authorities imposed tighter regulations on lending and foreign exchange management, making it difficult for the banks to conduct business. However, Bangkok Bank, Bank of Ayudhya, Krungthai Bank, Siam Commercial Bank, and Kasikornbank continue to do business in Laos with their other branches.

Source link : Four major Thai banks will close branches in Laos by Bahar Karaman

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