BOT: Gulf's KBank Shares Below 10%, No Control, No Report Needed

Khaosod•Economy•1d ago

Reader Briefing

The Bank of Thailand has clarified that Gulf's shareholding in Kasikornbank does not exceed 10% according to its regulations, thus not requiring prior approval.

•The Bank of Thailand (BOT) clarified that Gulf's shareholding in Kasikornbank (KBank) is below the 10% threshold that requires reporting.
•The calculation method for shareholding percentages differs between the SEC and BOT, with BOT basing it on total issued shares.
•Gulf previously reported its shareholding to the BOT when it reached 5% of total issued shares.
•The Financial Institutions Business Act requires BOT approval for shareholdings exceeding 10% to prevent business domination.

Overview

•The Bank of Thailand (BOT) clarified the methodology for calculating shareholding percentages in financial institutions.
•The clarification addresses reports of Gulf holding 10.03% of Kasikornbank (KBank) shares, as reported to the SEC.
•The BOT's calculation excludes treasury stock, unlike the SEC's method, resulting in a different percentage for Gulf's KBank holdings.
•Under the BOT's regulations based on total issued shares, Gulf's shareholding in KBank remains below the 10% threshold.
•Gulf has previously reported its shareholding to the BOT when it reached 5% of the total issued shares.
•The Financial Institutions Business Act stipulates that shareholdings exceeding 10% of total issued shares require prior BOT approval.
•Prior approval for shareholdings exceeding 10% is mandated by law to prevent domination of financial institutions.
•The BOT's regulations permit shareholdings over 10% under specific circumstances to enhance financial institution stability or the overall financial system.

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Key Quotes

Vipa win Phromboon

"Regarding Gulf's report to the SEC that it holds 10.03% of Kasikornbank (KBank) shares, the calculation of shareholding ratios differs between the SEC and BOT regulations."

ตามที่บริษัทกัลฟ์รายงานต่อสำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์ (ก.ล.ต.) ว่าได้เข้าถือหุ้นธนาคารกสิกรไทย (KBank) ที่ 10.03% นั้น การนับสัดส่วนการถือหุ้นตามหลักเกณฑ์ของ ก.ล.ต. และ ธปท. มีความแตกต่างกัน

Vipa win Phromboon

"Specifically, the SEC deducts treasury stock from the calculation base, while BOT regulations are based on the total issued shares. Gulf's KBank shareholding is below 10% under BOT criteria."

กล่าวคือ ก.ล.ต. จะหักหุ้นที่ KBank จำหน่ายแล้วและซื้อคืนมา (Treasury Stock) ออกจากฐานการคำนวณ ขณะที่หลักเกณฑ์ของ ธปท. คำนวณจากจำนวนหุ้นที่จำหน่ายแล้วทั้งหมด ซึ่งการถือหุ้นใน KBank ของบริษัทกัลฟ์ยังไม่ถึง 10% ภายใต้เกณฑ์ของ ธปท.

Key Entities

Organization

Bank of Thailand (BOT)(ธปท.)ℹ️

The central bank of Thailand responsible for regulating financial institutions.

Gulf Energy Development(กัลฟ์)ℹ️

A company involved in energy and infrastructure development, reported to be a shareholder in Kasikornbank.

Kasikornbank (KBank)(กสิกรไทย)ℹ️

A major commercial bank in Thailand, the subject of shareholding scrutiny.

Securities and Exchange Commission (SEC)(ก.ล.ต.)ℹ️

The regulatory body responsible for overseeing the securities market in Thailand.

Person

Vipa win Phromboon(น.ส.วิภาวิน พรหมบุญ)

Assistant Governor of the Financial Institutions Policy Group at the Bank of Thailand, providing clarification.

Law

Financial Institutions Business Act(พ.ร.บ.ธุรกิจสถาบันการเงิน)

Legislation governing shareholding and operational requirements for financial institutions in Thailand.