Knock, knock… Thai Military Bank is coming back !
After massives losses, massive recapitalization (ING bought 30 % for 460 millions euros) during the third quarter… Here we go again.
The fifth bank of Thailand “ended 2007 on a grim note, reporting an unaudited consolidated net loss of Bt22.97 billion for the fourth quarter.
TMB said in a filing with the Stock Exchange of Thailand late yesterday that it had suffered a net loss of Bt43.65 billion for the year, compared with a Bt12.29-billion net loss in 2006” (Nation) …
Again, we wish good luck to the dutch bank ING… The deal was already risky (TMB has… a strange… military culture 
) … but now it seems that the timing was wrong.
Even in a global environment of strong growth, TMB had bad results (datas here)… What will happen with the global slowdown ?
Remember when the got their new logo? I couldn’t believe it! Surely the company that designed it was pulling their leg, but they went ahead and bought it : The Mickeymouse Bank! Complete with Mickey Mouse Ears!!