Malaysian investment bank CIMB and China's top bank Industrial and Commercial Bank of China (ICBC) and are considering buying a stake in Thailand's ACL Bank, the Thai finance minister said today.

Chalongphob Sussangkarn said he met with CIMB officials on Thursday to discuss a purchasing plan, and confirmed that ICBC had also shown interest in the 19.26 percent stake currently held by Bangkok Bank.

"Other banks interested in buying ACL Bank shares, including Chinese ICBC, have also approached me," he said.

Smallest Thai bank

ACL Bank, which the Thai finance ministry holds a 30.61 percent stake in, is the smallest of Thailand's 14 commercial banks.

Its assets total US$1.87 billion and its market share is 0.77 percent, with 11 branches across the country.

ICBC, China's top lender, made its first foreign acquisition in December when it bought a 90 percent stake in small Indonesian lender Bank Halim.

It is reportedly planning ventures in the US and Russia as it seeks to expand internationally.