Thai bank plans to join big regional players

Singapore

KRUNG Thai Bank Pcl (KTB), Thailand's second-largest lender by assets, is cleaning up its balance sheet and preparing to make acquisitions in a bid to join the ranks of the biggest Southeast Asian banks.

After making large provisions last year for Thailand's largest default since the 1997 Asian financial crisis, Bangkok-based KTB is boosting profits and positioning itself to buy another Thai bank, according to chief executive officer Vorapak Tanyawong.