ICBC still interested in buying ACL's stake from Bangkok Bank

Industrial and Commercial Bank of China (ICBC)<601398><1398>, the nation's largest lender, is still interested in acquiring a maximum stake in ACL Bank PCL from Bangkok Bank Ltd, sources reported, citing Singh Tangtatswas, Managing Director of Bangkok Bank, as saying.

The Ministry of Finance (MOF) of Thailand and Bangkok Bank hold 30.6% and 19.3% stake in the local lender respectively.

According to Tangtatswas, both sides are sill in talks on the share sale. However, the deal is subject to final approval from the Thailand's MOF.

Last December, Bangkok Bank agreed to sell all its shareholdings in ACL Bank to ICBC. However, detailed financial figures were not disclosed.

Bangkok Bank is the largest commercial bank in Thailand by assets.