ING trimmed its holding in TMBThanachart Bank, lowering its stake from 23.1% to 19.5% through the Thai lender's recent share buyback programme, and will receive about €243 million in gross proceeds, according to Fintech News Singapore.
TRANSACTION DETAILS
The reduction in ING's stake occurred under TMBThanachart Bank's latest share repurchase initiative, which allowed the Dutch bank to sell shares back to the Thai institution. The deal reduced ING's shareholding to below 20 percent.
TMBThanachart said on 12 June that it had completed its fourth buyback in full, buying back 9.245 billion baht of shares and bringing its repurchases across four programmes to 21 billion baht.
ING framed the sale as part of its efforts to manage capital and review its investment portfolio, and said it would remain a significant shareholder in TMBThanachart, with which it has a longstanding partnership.
MARKET AND STRATEGIC IMPLICATIONS
TMBThanachart chief executive Piti Tantakasem said the change in ING's shareholding would not affect the bank's shareholder structure or management structure, and that ING remains among its major shareholders alongside Thanachart Capital and the Ministry of Finance.
ING said the transaction was not expected to have a material impact on its profit and loss account, shareholders' equity or capital ratios.
Piti said the programme was designed to enhance shareholder returns amid economic and capital market volatility. The buyback forms part of TMBThanachart's 35 billion baht share buyback plan for 2025 to 2028; its fourth round, a general offer at 2.26 baht per share, ran from 25 May to 9 June 2026.
TMBThanachart estimated its capital adequacy ratio at around 19% after the buybacks and its 2025 dividend payment, well above the Bank of Thailand's 12.0% minimum.
Sources: Fintech News Singapore; The Nation (Thailand)
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