SCB–Publicis Sapient Successfully Reach a JV Agreement for Providing Technology Services

The Siam Commercial Bank Public Company Limited (SET: SCB) announced that on 15 December 2021, SCB Tech  X Co., Ltd., a company formed in April, 2021, has agreed and entered into a joint venture agreement with Publicis Sapient, a Publicis Groupe company that specializes in digital business transformation. SCB has a plan to proceed with the registration of the capital increase of the joint venture company with the Department of Business Development, Ministry of Commerce, which shall cause the joint venture company to have the total registered capital of Baht 850 million within 1st quarter of 2022, in accordance with the joint venture agreement. 

The main objective of this joint venture is to strengthen the capability of SCB to engage in the business of providing specialized technology services and create sustainable growth. The joint venture company is under SCB’s Financial Group. After the completion of the registration of the capital increase, SCB shall hold 60% and Publicis Groupe Holdings B.V. shall hold 40% of the total issued shares in the joint venture company.