SCB New Joint Venture, Investing ฿660M for Digital Business Growth
SCB to incorporate a new joint venture company with Abakus, aims to develop its digital business in long term growth.
The Siam Commercial Bank Public Company Limited (SCB) released an announcement on 9 January 2020 that the bank has established a new joint venture with Abakus , the technology developer including AI and machine learning for financial business. The company registered capital was 20,000 baht with a future plan to increase to 660,000,000 baht, SCB will hold 60% and Abakus holds 40% of total share. The new company targets to accomplish digital lending business due to the bank’s main objective to effort long term growth with digital lending.