Bank of Ayudhya shareholders yesterday approved its acquisition of the assets of GE Capital in five financial businesses covering credit card and insurance services, worth a combined Bt13.97b. The meeting also approved the bank’s purchase of auto leasing assets of the AIG Consumer Finance unit, CFG Service Ltd, worth Bt18m. The acquisition would expand the bank’s retail loan portfolio from 32% of total outstanding loans currently to 42%. The bank aims to expand its consumer loan ratio to 50%by the end of 2010. (Bangkok Post)
GE deals approved
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The Thaivest Editorial Team is a dedicated group of writers and editors with a passion for Thailand's vibrant economy, culture, and lifestyle. With diverse backgrounds in finance, economics, and journalism, we provide valuable insights into living well in Thailand, making money online, and practical tools for navigating its dynamic market. Our mission is to keep our readers informed about the latest developments, opportunities, and challenges in Thailand's economic and cultural landscape. Stay connected with Thaivest for reliable, well-rounded coverage of all things Thai.
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