ING Bank sold 6.99 billion TTB shares worth 18.4 billion baht through 77 block trades at an average price of 2.64 baht to institutional investors, reducing ING's stake from 19.5% to 11.6% of shares excluding treasury stock. TTB confirmed that the reduction in ING's shareholding does not affect the bank's management structure, operations, or core strategy, since ING is only a board member, and the sale increases free float, which is positive for TTB share trading liquidity in the long term. Chief Executive Officer Piti Tantakasem said TTB remains committed to maintaining an appropriate and sustainable dividend payout ratio while proceeding with a share buyback program under a total budget of 35 billion baht over four years. To date, the bank has bought back 21 billion baht worth of shares, leaving 14 billion baht remaining. President Thakorn Piyapan disclosed that fee income in the first seven months grew 12 to 13 percent, with mutual fund income up nearly 20 percent and card spending up 10 percent, compared with market growth of only 1 percent. This gives confidence that return on equity in 2026 will meet the plan of no less than 9 percent, a level already achieved in the first half. The bank aims to increase the share of revenue from wealth customers from the current 14 percent to 30 percent by 2028, launching the ttb superior service for mass affluent customers with combined financial products of at least 1 million baht. It targets growing this customer base to 160,000 to 180,000 accounts and assets under management in this segment to 360 billion baht by 2028, lifting retail customer assets under management to 1.3 trillion baht from the current 1.1 trillion baht.
TMBThanachart Bank Public Company LimitedING's stake sale increases free float, positive for liquidity, and TTB's buyback program and fee income growth support ROE target.
ING Groep NVING sells 6.99 billion TTB shares, reducing its stake from 19.5% to 11.6%, a significant divestment.
