TMBThanachart Bank Public Company Limited (SET: TTB) has informed the Stock Exchange of Thailand regarding the share sale by one of the bank’s shareholders, ING Bank N.V. (ING). TTB indicated that the transaction is part of the shareholder’s portfolio management, as it is expected to have no impact on the bank’s operations.
On August 18, 2026, ING announced the sale of TTB’s ordinary shares through a private placement to institutional investors, with a transaction value of approximately EUR 475 million. ING stated that the transaction forms part of its ongoing active capital management strategy and reflects its disciplined approach to optimizing its investment portfolio.
After the settlement and delivery of the securities, which are expected to be completed on August 21, 2026, ING expects its shareholding in TTB to decrease from 19.5% to 11.6% of the bank’s total issued and outstanding shares, excluding treasury shares held by the Bank.
Following ING’s announcement, TTB has clarified the facts and provided its views on the transaction to the Stock Exchange of Thailand as follows:
1) Direct shareholder portfolio management: The transaction is a portfolio management decision undertaken directly by the shareholder in accordance with its own investment policy and strategy. TTB had no prior knowledge of, nor any involvement in, the shareholder’s decision-making process regarding this transaction.
2) Positive impact on liquidity and free float: ING’s decision to conduct the share sale through an off-market private placement to institutional investors helps mitigate the risk of substantial selling pressure in the secondary market and limits any potential impact on the trading price of TTB shares on the main board. In addition, the transaction provides institutional and other interested investors with an opportunity to invest directly in TTB shares and enhances the bank’s free float, which is expected to support the long-term trading liquidity of TTB shares.
3) No impact on TTB’s operations and core strategy: The reduction of ING’s shareholding does not affect the bank’s governance structure, operations, corporate governance framework, or execution of its core strategic initiatives. The bank has continuously advanced its transformation and has proactively prepared the organization to effectively respond to changes arising from both internal and external factors.
4) No impact on business independence and management: TTB has established a strong foundation and developed internal capabilities that enable its management team to effectively drive operations across all dimensions. The bank is managed by an experienced Thai management team, while ING’s current role is limited to representation at the board of directors level. Therefore, the transaction will not affect the bank’s business operations or management.
TTB remains committed to its mission of improving the financial well-being of Thai people while delivering sustainable returns to shareholders. This commitment to shareholders is supported through maintaining an appropriate and sustainable dividend payout ratio, as well as the implementation of its share repurchase program for financial management purposes, with a total authorization of THB 35 billion over a four-year period (2025 to 2028).
To date, TTB has completed share repurchases with a cumulative value of THB 21 billion, leaving THB 14 billion available under the program. As the bank has been able to execute the share repurchase program faster than originally planned, it now has greater flexibility regarding the timing of future repurchase activities. The bank will determine the most appropriate structure and method for future share repurchases by taking into consideration relevant factors, including capital market conditions and trends, to ensure that each repurchase generates maximum value for shareholders.
