Important Changes in the Last 2010 - 2011 2013 Merger between TBANK and SCIB Reaching Life Assurance Brokerage Service Agreement with Prudential The Company came up with a merger plan for TBANK to buy a 47.58 percent equity stake in SCIB from the FIDF and to also make a tender to buy remaining ordinary shares from minority shareholders of SCIB in 2010. As a result, the total equity stake held by TBANK in SCIB amounted to 99.95 percent. In this connection, SCIB completed the Entire Business Transfer (EBT) to TBANK on 1 October 2011. This represented a historical merger in Thailand’s commercial banking industry. The merger was also in line with the authorities’ policy aimed at encouraging mergers among commercial banks to form a large bank. The objective of the policy was to strengthen the country’s financial system and overall economy. The merger helped equip TBANK with higher capital and additional channels for giving services to both institutional and individual customers in more diverse business areas. As a result, TBANK was in the position most conducive for ensuring stability of income management as well as future growth. Years The Company allowed TBANK to enter into a cooperation agreement with Prudential, which enabled TBANK to offer life assurance products and services thru its branches. In this connection, TBANK sold its 100 percent equity stake in Thanachart Life Assurance Company Limited to Prudential, the world’s leading financial group which offered insurance and financial services. As a result, TBANK was provided with a great opportunity not only to offer a diverse range of life assurance products to customers of Thanachart Group’s member companies but also to significantly expand TBANK’s life assurance brokerage business. 10
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