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BoT: GULF's KBank Shareholding Under 10%

BoT: GULF's KBank Shareholding Under 10%

Prachachat•Economy•1d ago

Reader Briefing

The Bank of Thailand has clarified that Gulf Energy Development's (GULF) shareholding in Kasikornbank (KBank) is still below the 10% threshold according to the BOT's regulations, despite a report to the SEC indicating a higher percentage.

  • •The Bank of Thailand (BOT) stated that Gulf Energy Development's (GULF) stake in Kasikornbank (KBank) is under 10% by BOT's calculation method.
  • •This differs from the calculation method used by the Securities and Exchange Commission (SEC), which led to GULF reporting 10.03% ownership.
  • •Holding over 10% of a financial institution requires prior approval from the BOT to prevent dominance.

Overview

  • •The Bank of Thailand (BOT) clarified the shareholding percentage of Gulf Energy Development (GULF) in Kasikornbank (KBank) in order to address public concern.
  • •Gulf Energy Development (GULF) reported a 10.03% shareholding in Kasikornbank (KBank) to the Securities and Exchange Commission (SEC).
  • •The calculation of shareholding ratios differs between the SEC and the BOT, with the SEC excluding Treasury Stock while the BOT calculates based on all issued shares.
  • •According to the BOT's criteria, Gulf Energy Development's (GULF) shareholding in Kasikornbank (KBank) is still below 10%.
  • •The BOT confirmed that Gulf Energy Development (GULF) had previously reported its shareholding to the BOT upon reaching 5% ownership.
  • •The Financial Institutions Business Act stipulates that holding over 10% of issued shares in a financial institution requires prior permission from the BOT.
  • •Prior BOT permission for shareholding exceeding 10% is required to prevent business dominance of financial institutions.
  • •The BOT may permit shareholdings exceeding 10% in specific cases beneficial to the financial institution's stability or the overall financial system.

Full article content is available on the original source.

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Source: Prachachat (Original)

Key Quotes

Vipavin Phrombun
"Regarding Gulf's report to the SEC that it acquired 10.03% of KBank shares, the calculation of shareholding ratios differs between the SEC and BOT."
ตามที่บริษัทกัลฟ์รายงานต่อสำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์ (ก.ล.ต.) ว่าได้เข้าถือหุ้นธนาคารกสิกรไทย (KBank) ที่ 10.03% นั้น การนับสัดส่วนการถือหุ้นตามหลักเกณฑ์ของ ก.ล.ต. และ ธปท. มีความแตกต่างกัน
Vipavin Phrombun
"Gulf's shareholding in KBank has not yet reached 10% under the BOT's criteria."
การถือหุ้นใน KBank ของบริษัทกัลฟ์ยังไม่ถึง 10% ภายใต้เกณฑ์ของ ธปท.

Key Entities

Organization

Bank of Thailand(แบงก์ชาติ)ℹ️
The central bank of Thailand responsible for financial and monetary policy, clarifying shareholding regulations.
Gulf Energy Development(GULF)ℹ️
A company that has increased its shareholding in Kasikornbank and reported it to regulatory bodies.
Kasikornbank(กสิกรไทย)ℹ️
A major Thai bank in which Gulf Energy Development is increasing its shareholding.
Kasikornbank(KBank)ℹ️
Abbreviation for Kasikornbank, a Thai bank.
SEC(ก.ล.ต.)ℹ️
Regulatory body (Securities and Exchange Commission) to which Gulf Energy Development reported its shareholding.
BOT(ธปท.)ℹ️
Abbreviation for the Bank of Thailand, which has different shareholding calculation criteria.

Person

Vipavin Phrombun(นางสาววิภาวิน พรหมบุญ)
Assistant Governor of the Financial Institutions Policy Group at the Bank of Thailand, providing clarification on shareholding rules.

Law

Financial Institutions Business Act(พ.ร.บ.ธุรกิจสถาบันการเงิน)
The law that governs shareholding limits and approval processes for financial institutions in Thailand.