TMBThanachart Bank (ttb) has denied rumours of a merger with Krungthai Bank (KTB) following reports in local media about a potential merger.
In an internal memo on Friday, ttb chief executive officer Piti Tantakasem reassured employees that the rumours are untrue. He emphasised that the bank is not in discussions regarding a merger with KTB or any other financial institutions.
Mr Piti said the bank's board of directors has neither considered nor instructed management to pursue a merger. He also confirmed that no merger plans are included in ttb’s five-year strategic roadmap.
"At present, ttb's key mission is to 'Make Real Change' — creating meaningful financial improvements for our more than 10 million customers. We are executing this through our Ecosystem Play growth strategy, focusing on customer segments where we have deep expertise," the CEO stated.
ttb is undergoing a comprehensive organisational transformation to enhance capabilities, strengthen competitiveness and improve the overall financial experience for customers. This transformation is designed to support sustainable growth alongside customers, partners and stakeholders, he said.
Mr Piti also called on employees to collaborate in driving this mission forward.