Bank of Ayudhya Plc is spending 14.0 billion baht in acquiring the majority stakes of the country’s seven leading credit card and insurance companies, according to data filing with the Stock Exchange of Thailand by the firm’s president for legal Pavana Nienloi.

The companies being acquired by the bank include;

1. Ayudhaya Card Co., Ltd.
2. Tesco Card Services Co., Ltd.
3. GE Capital (Thailand) Co., Ltd.
4. Total Services Solutions Plc.
5. General Card Services Co., Ltd.
6. Tesco Life Assurance Broker Co., Ltd.
7. Quality Life Assurance Broker co., Ltd.

GE Group has a customer-base of more than three million accounts with over six thousand service points nationwide.

The group entered Thailand’s market 15 years ago and is the industry leading credit card service provider.