Siam Commercial plans opening China operations in 2011

Lender targets profiting from Chinese small and medium enterprises as it ventures in the country.

SCB executive chairman and chief executive Vichit Suraphongchai said the bank's Chinese strategy will use Hong Kong operation "as a springboard to penetrate into China market which offers vast business opportunity.

"We are studying the possibilities and hope to apply for a licence this year, with a launch possibly taking place next year," Vichit said in a report in Bangkok Post.

SCB, Thailand's third-largest bank by assets, currently has operations in Hong Kong, Vietnam, Cambodia, Singapore and Laos.

The bank has outstanding loans to Chinese clients of around 10 billion baht, primarily through its Hong Kong branch to Thai businesses operating in China.

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