BANGKOK and TORONTO--30 Mar--CNW-AsiaNet/InfoQuest
CAPTION :SCOTIABANK - Victory Drum Dance. Executives from Scotiabank and Thanachart Bank participate in a victory drum dance in Bangkok earlier today after Scotiabank announced that it has reached an agreement to acquire 24.99 per cent of Thanachart Bank, Thailand's eighth-largest bank and leading automobile lender.
From left to right: Arthur Scace, Scotiabank Chairman of the Board; Michele Kwok, Senior Vice-President, Asia-Pacific and the Middle East, Scotiabank; Rob Pitfield, Scotiabank Executive Vice-President, International Banking; Denis Comeau, Canadian Ambassador; Suphadej Poonpipat, Chief Executive Officer, Thanachart Bank; and Banterng Tantivit, Chairman, Thanachart Bank. (CNW Group/Scotiabank)
SOURCE: Scotiabank
--Distributed by AsiaNet ( www.asianetnews.net )--
Click for photo release at www.thaipr.net
As part of a strategic shift in the direction of Scotiabank's Asia Pacific operations, led by the realignment of regional operations under the Global Banking and Markets business line, Scotiabank (TSX:BNS) (NYSE:BNS) may consider strategic options for its 49% stake in Thanachart Bank Public Company Limited ("TBank"). No final decision has been made with respect to this investment. Scotiabank continues to maintain a good working partnership with Thanachart Capital Public Company Limited ("TCap"),