... six foreign banks rated by Fitch Ratings in Thailand have Issuer Default Ratings (IDRs) or National Ratings that are driven by institutional support. We see a high probability that their parent institutions would give them extraordinary support, if needed. Fitch classifies all six banks as being strategically important subsidiaries to their parents due to majority ownership, management and operational integration, and a track record of providing support. None of the banks are cited as being core subsidiaries (which would imply equalised ratings with the parent) due to the relatively small contribution of the Thai operations, and Fitch's view that the banks are not of fundamental importance to their parents. Significant Role in Sector: The market position of foreign banks in Thailand has grown sharply, due primarily to more acquisitions in recent years. Foreign banks accounted for 22.2% of total lending amongst commercial banks as of end-2014...
