...secluded, but not isolated, the estate is self-contained, with beautifully landscaped tropical gardens and lakes....
Visit Falcon Hill, Hua-Hin
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Land & Houses Retail Bank Plc, an affiliate of the country's largest housing developer Land & Houses Plc), plans to upgrade into a full-service commercial bank and list on the Stock Exchange of Thailand around the end of 2008.
The bank is also planning to increase its registered and paid-up capital to 2.6 billion baht ($63.6 million) by the end of 2006 from 1.5 billion baht at present to meet growing demand for credit - mostly housing loans, bank President Anant Asavabhokin, pictured, said Monday, the first day of the bank's operation.
The bank was established from the merger of Land & Houses Credit Foncier Plc, a 43 percent affiliate of Land & Houses, and Book Club Finance Plc, in line with the government's financial master plan. The master plan adopted last year requires that the licenses of local finance companies and smaller credit institutions be revoked and that they either merge or raise sufficient funds to meet the capital requirements to become full-service commercial banks or restricted retail banks.
Full-service banks must have a minimum capital of 5 billion baht, and retail banks a minimum of 250 million baht.
Land & Houses Retail Bank aims to focus on providing housing loans, while also offering loans to small and medium-sized enterprises and providing factoring facilities.
The bank has said it plans to open five branches, mostly in Bangkok, in its first year of operations.
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