December 22, 2016 / 3:12 AM / 8 months ago

BRIEF-Thailand's TISCO Bank to transfer retail banking business from Standard Chartered Bank (Thai)

Dec 22 (Reuters) - Thailand's TISCO Financial Group Public Co Ltd says in a notification to the Stock Exchange of Thailand (SET):

* TISCO Bank Public Company Limited and All-Ways Company Limited, subsidiaries of TISCO Financial Group, have agreed to transfer retail banking business from Standard Chartered Bank (Thai)

* Net asset value of the acquired business is about 5,500 million baht ($152.8 million)

* Transfer will be conducted once approved by the Bank of Thailand, shareholders of TISCO and All-Ways and shareholders of Standard Chartered Bank (Thai) Public Company Limited ($1 = 36.0000 baht) (Reporting by Amy Sawitta Lefevre; Editing by Gopakumar Warrier)

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