$

SCB

SIAM COM BANK
SCB.BK
Last Price
135.00
09:35 GMT / 22 MAR 2019
Value Change [%]
4.00
[(3.05%)]
Volume
18,117,500
Open
131.50
Day's High
135.00
Year's High
151.00
Previous Close
131.00
Day's Low
131.00
Year's Low
117.00
Earnings Per Share
11.79
P/E Ratio
11.12
Lot Size
100
Div. Yield (%)
4.20
Dividend
5.50
Div. Pay Date
03 MAY 2019
Ex-Div. Date
12 APR 2019
Last Trade
135.00
Last Trade Time (GMT)
09:35
Last Trade 2
135.00
Last Trade 3
134.00
Volume
18,117,500
Turnover
2,420,110
Bid
134.50
Bid Size
800
Ask
135.00
Ask Size
389,700
Close Bid
134.50
Close Ask
135.00
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The Siam Commercial Bank PCL is a Thailand-based company engaged in the retail and corporate banking businesses. Its financial services include retail services, which consist of home loans, personal credit, car hire purchase, credit cards, automated teller machine (ATM) cards, debit cards, currency exchange facilities, overseas remittances, as well as investment and bancassurance products. Its commercial services include cash-management related services, international trade financing, treasury products, debt and capital market products, corporate advisory and investment banking, among others. It provides securities trading, asset management and financial consulting to both retail and corporate clients. As of December 31, 2010, the Bank had 13 subsidiaries, as well as 1,019 operating branches throughout the country. On September 23, 2011, the Company acquired 60.90% additional shares of The Siam Industrial Credit Plc. On March 9, 2012, the Company divested its shares in SCB Leasing PCL.

  • Market News
UPDATE 1-Thailand's Siam bank in talks again with FWD for insurance unit sale
22 March 2019
source: reuters.com
    * Talks also involve long-term product distribution pact
    * Talks between the two failed in 2017 over valuation -
sources
    * FWD aggressively expanding Asia footprint

 (Adds background on FWD)
    By Chayut Setboonsarng
    BANGKOK, March 22 (Reuters) - Thailand's Siam Commercial
Bank Pcl (SCB)  SCB.BK  has entered into exclusive talks with
Hong Kong-based insurer FWD Group for the sale of its life
insurance business, nearly two years after previous talks broke
off. 
    The memorandum of understanding for potential partnership in
life insurance also involves a long-term product distribution
pact, SCB CEO Arthid Nanthawithaya said in a statement on
Friday.   
    The companies are in exclusive negotiations to finalise
terms and agreements, SCB said, adding that the agreements were
not binding and subject to approval. No financial details were
given.
    An FWD Group spokesman confirmed that the company was in
talks with "SCB to explore the possible acquisition of its life
insurance business".
    SCB and FWD were in talks two years ago about a potential $3
billion sale of SCB's life insurance unit, SCB Life Assurance,
but the talks failed on valuation disagreements, Reuters had
reported.
    FWD, owned by tycoon Richard Li, has been aggressively
expanding its Asian footprint in the last couple of years,
mainly through acquisitions as it seeks to grab a bigger share
of the market from large global as well as local insurers.
    In August last year, it got regulatory approval to buy HSBC
Holdings'  HSBA.L  49 percent stake in the London-headquartered
lender's Malaysian life insurance joint venture, HSBC Amanah
Takaful Malaysia Bhd.  urn:newsml:reuters.com:*:nL3N1YQ1R3
    FWD's Asia presence includes Indonesia, Japan, Singapore,
the Philippines, Thailand, and Vietnam. The company is also
awaiting regulatory approval in China to launch a life insurance
joint venture.
    In 2018, SCB Life and FWD were ranked fifth and eighth,
respectively, in terms of market share of total premiums in
Thailand, according to Thai Life Assurance Association data.  
    SCB, Thailand's second-largest bank by assets, signed a
bancassurance deal last year with the Thai unit of UK-based
Prudential Plc  PRU.L .  urn:newsml:reuters.com:*:nL4N1P5343 

 (Reporting by Chayut Setboonsarng in Bangkok; Additional
reporting by Sumeet Chatterjee in Hong Kong; Editing by
Muralikumar Anantharaman)
 ((Chayut.Setboonsarng@thomsonreuters.com; +6626506126; Reuters
Messaging: chayut.setboonsarng.thomsonreuters.com@reuters.net))
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