SCB awaits court orders to proceed with the asset seizure

By k on February 27, 2010

BANGKOK, 27 February 2010 (NNT) — As the main bank that services the accounts and investment unit of the assets involved in the court confiscation of the 43.6 billion THB, Siam Commercial Bank (SCB) is awaiting for the court directions on how to proceed with the amount handed to state.

The SCB however ensures that the transaction of the large sum will not affect the liquidity of the bank or put the bank at a high risk, due to SCB’s high stability. Currently, SCB has 1.3 trillion THB in assets, with 900 billion THB worth of deposits and 153 million THB in funds. According to SCB, the transaction will not put the bank at any risk for the future, as it can still maintain its capabilities to issue bonds.

Meanwhile, it is reported that SCB has a total of 39 billion THB worth of the Shinawatra family’s savings.

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