KRUNG THAI BANK TO TAKE OVER SAYAM BANK The state-owned Krung Thai Bank Ltd will start taking over state-owned Sayam Bank Ltd and complete the process in a year, Finance Minister Suthee Singhasaneh told a press conference. He said the takeover decision was made this week to stem the current heavy losses of Sayam and to avoid competition between the two state-owned institutions. The minister said some of the existing 30 Sayam Bank branches will be merged with their Krung Thai counterparts, while others will continue operating but under Krung Thai's name. Sayam Bank has existed since August 1984 when the Finance Ministry took over and re-named the Asia Trust Bank Ltd. Sayam president Waree Havanonda told reporters last month her bank posted a loss of more than 400 mln baht in 1986. At the end of 1985 the bank, with 13.8 billion baht of assets, was ranked 12th among Thailand's 16 local commercial banks. Waree said Sayam Bank was trying to recall about six to seven billion baht of loans extended by its previous private management and was taking legal action to collect another four to five billion baht of doubtful debts. Krung Thai is Thailand's third largest bank.