Thailand’s Siam Commercial Bank inks online lending JV with telco AIS

Shares in Thailand’s third largest lender, Siam Commercial Bank Pcl (SCB) jumped in morning trading on Wednesday, following its announcement of a joint venture with the country’s top mobile network, Advanced Info Service Pcl (AIS).

SCB and AIS late on Tuesday announced the creation of AISCB, to provide online lending via online platforms.

The announcement sent SCB‘s shares up nearly 5% when markets opened. AIS shares rose nearly 3% against a benchmark index gain of 0.1%.

“The joint venture will create financial products meeting wide-ranging demand with digital technology as the key driver,” they said in a statement.

Analysts were positive on the partnership.

“This is the only digital lending proposition that has a chance of success in the long term,” said Maria Lapiz, head of institutional research at Maybank Kim Eng, citing the…