Bank of Ayudhya to Buy HSBC’s Retail Business in Thailand

Bank of Ayudhya Pcl (BAY) said it will acquire the retail banking business of HSBC Holdings Plc (HSBA) in Thailand for 3.56 billion baht plus any net asset value of the business, the Thai bank said.

HSBC’s retail business in Thailand includes credit cards, consumer loans and mortgage loans, Bank of Ayudhya said in a regulatory filing.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Tony Jordan at tjordan3@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.