DBS Group Holdings will not participate in the proposed recapitalisation of Thailand’s TMB Bank, although it will continue to be a shareholder. DBS, which had earlier indicated interest in playing a greater role in improving TMB’s performance, said however, that after months of discussions with Thailand’s Ministry of Finance and TMB, DBS “did not receive adequate assurance on its position going forward”, the Singapore bank said in a statement.
DBS owns 16 per cent of TMB and said it “remains committed as a significant shareholder”. — DOW JONES
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