The Siam Commercial Bank Public Company Limited (SCB) announces that the company has agreed and entered into a joint venture agreement with Advanced Info Service Public Company Limited (ADVANC) whereby the company and ADVANC shall jointly establish a company under the name AISCB Co., Ltd. (AISCB).
AISCB’s key objective is to provide digital lending via online platforms to enhance the access to financial service. The company together with ADVANC plans to register the establishment of AISCB with the Ministry of Commerce, with a registered capital of Baht 600,000,000. The company will inform accordingly when there is a significant update.
The AISCB shall be under SCB’s financial group in which the company shall hold 50 percent and ADVANC shall hold 50 percent of the total issued shares in the AISCB.
Meanwhile, ADVANC stated that the establishment of this joint venture company corresponds to its business direction in providing digital life services and aims to leverage from the core business to offer a new digital experience in accessing financial service to AIS customers as well as to create a new source of revenue.