KDB keen on buying a Southeast Asian bank
KDB pulled out stake sale in Siam City citing regulatory uncertainties in the global banking industry.
A Southeast Asian bank that South Korea's Korea Development Bank (KDB) is in talks to buy would be similar in value to an estimated $900 million deal for Siam City Bank that KDB walked away from, KDB's chief executive was quoted as saying.
In an interview with online news outlet E-daily, Chief Executive Min Euoo-sung reiterated that the company was in talks to buy a Southeast Asian bank, but he gave few details.
"It is similar with Thailand's Siam City Bank but healthier," Min said in reference to the size of the new takeover target.
"We will be able to make a visible outcome as early as this month," Min said.
Min's remarks come as the state-run bank tries to move ahead with acquisitions, especially in the Asian market, to boost its deposit base.
Last year, KDB joined in the stake sale in Siam City Bank but later pulled out, citing regulatory uncertainties in the global banking industry.
View the full story in Reuters.
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Tags: KDB Southeast Asia bank acquisition, KDB Southeast Asia
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