SCB logo

SCB logo

1904 – 1932 Laying the Foundation of Thai Banking

The most important change in Thailand’s financial system was engineered under the visionary and wise leadership of Prince Mahisara Rajaharudaya (H.R.H. Prince Mahisorn), a brother of King Chulalongkorn Rama V. He realized that it would be difficult for Thailand to develop its economy without the firm foundation of a national banking system. His approach was to cautiously set up a small commercial bank as a pilot project, naming it the “Book Club”.

The Book Club began its life on 4 October 1904 in a shophouse on Ban Moh Road. After the heartening performance of the Book Club, on 30 January 1907, H.M. King Rama V granted royal permission to set up the bank with an initial capital of 3,000,000 baht. The decree was announced in Royal Gazette, Siam Commercial Bank Limited thus officially began operations as a full-fledged commercial bank. In the realization of H.R.H. Prince Mahisara’s vision, the Bank would soon grow to become a “prototype for Thai bank”, and help to achieve Thailand’s financial independence, immensely benefiting the Kingdom and its people.

1932 – 1957 The Strength to Overcome Obstacles

The devaluation of the pound sterling in 1931 was a factor in the closure of the Thung Song branch and caused difficulties for the bank as a whole. SCB immediately saw its pound-deno- minated assets (hard currency and negotiable notes) decline in value.

With its assets now being of less worth, it was difficult to continue operating. The pound devaluation along with the weak economic conditions resulted in SCB’s suffering a 3 million baht loss.

To save the bank, H.M. King Rama VII Prajadhipok, instructed the Privy Purse to lend SCB 3 million baht at no interest.

In 1939, World War II erupted in Europe. Shortly thereafter, the Thai government proclaimed its “nationalistic” policies with their focus on Thai ethnic identity. As part of this effort, the names of the country and its people were changed from “Siam” to “Thailand”.

Siam Commercial Bank’s Board of Directors voted to changethe Bank’s Thai name to “Siam Commercial Bank”, pronounced as “Thanakhan Thai Phanit, Limited.” while the English name was modified to “Thai Commercial Bank Limited.” The name it uses today and, after World War II reverted to its original English name, “Siam Commercial Bank.”

1957 – 1973 Supporting Thailand’s Development

Between 1957 and 1973, internal security – primarily to counter the threat from Communism was given highest priority by the Thai government. This period also saw the extensive expansion of infrastructure and public utilities to backstop the country’s economic advancement, as well as the bolstering of organizations designed to facilitate industrial development. Financial institutions were also strengthened, initially through the passage of the Commercial Banking.

Business activities in this period, the Bank supported Thailand’s development by expansion of branch offices. Most of the branches were in Bangkok but many were in major provincial centers to served customers throughout Thailand. The bank also aware of the importance of human resources and the admission of new personnel, including social contributions by fostering the growth of buddhism, supporting health.

1973 – 1988 Growth through Innovation

By introducing advanced technology to serve its customers, Siam Commercial Bank opened a new chapter for Thai banking and for itself, ushering in the age of electronic banking for the convenience of its customers. It was in line with the Bank’s newborn slogan “A Firm Foundation with Heartfelt Service”.

In this period, the Bank was broadening the branch network by adding both domestic and international branches, also stepped forward to the advent of the technology era. In 1983, Siam Commercial Bank opened a new dimension in Thailand’s electronic banking by becoming the first to introduce Automatic Teller Machine (ATMs); the Bank also offered the first telephone banking service. Taken as a whole, this service led to enormous changes in Thailand’s finance and banking industry.

1988 – 1997 Expansion through Collaboration

The expansion of Siam Commercial Bank’s deposit base, credit, business, and its range of transaction activities were in keeping with the growth of the Thai economy. Siam Commercial Bank’s ability to make good and steady progress was due to several factors: a market-oriented reorganization, the systematic resolution of poor-quality assets, the revision of the operating system, and the constant monitoring and timely analysis of events. The Bank’s operational effective- ness was recognized by Money & Banking Magazine, which named it “Bank of the Year” for four straight years (1989 to 1992) for the best all-around performance, notably its market share, net profit per share, social welfare activities, and organizational development.

In 1997, the Thai economy was struggling to keep its head above water. Although there was a general lack of public confidence in Thai financial institutions, Siam Commercial Bank continues to enjoy tremendous customer loyalty. Also in this year, Siam Commercial Bank had to recapitalize because the Bank of Thailand required that banks increase their reserves as a provision for doubtful debts and because of the increasing number of problematic loans.

1998 – 1999 Weathering the Storm

In 1997 the Asian Financial Crisis hits Thailand and the region. Siam Commercial Bank found its NPL, figure rising from 4.9 percent in 1995 to 42.4 percent in 1998. Some poor-quality loans were from troubled accounts and others derived from new and stricter loan classifications announced by the Bank of Thailand. This was a difficult period for the Bank, which implemented several measures to deal with its most pressing problems. The Bank decided to sell new shares to existing shareholders and overseas investors.

In 1999, SCB’s issue of shares offered between 31 March and 10 May is oversubscribed and, with matching funds from the Thai government per its economic recovery measure of 14 August 1998, raises capital amounting to 65 billion baht. SCB is the first Thai commercial bank to have successfully recapitalised by selling preferred stock, and the capital raised is the largest in Thailand and Asia (excluding Japan).

1999 – Quality and Integrity Pave the way to the Future

Siam Commercial Bank has stated its mission as being The Premier Universal Bank of Thailand. Thus, it seeks to provide not only the traditional commercial banking services but a full range of financial services, and aided by continual organization and personnel development to meet international standards – in part, through the Change Program – Siam Commercial Bank has experienced continuous growth.

Siam Commercial bank website.

Siam Comercial Bank Website in English



The KASIKORNBANK Public Company Limited was established on June 8, 1945, with registered capital of Baht 5 Million and only 21 employees. Its first office is now the Thanon Sua Pa Main Branch. The Bank showed healthy performance after only six months in operation. As of December 31, 1945, or at the end of its first accounting period, the Bank recorded total deposits of Baht 12 Million, assets of Baht 15 Million.

Since its inception, the Bank has grown healthily. As of June 30, 2011, the Bank, with registered capital of Baht 30,486 Million, had total assets of Baht 1,672,341 Million, total deposits of Baht 1,202,505 Million, and total loans of Baht 1,167,157 Million. The Bank operates 808 branches across the country, comprising 284 Bangkok Metropolitan branches and 524 upcountry branches. The Bank has eight overseas offices, including the Los Angeles International Branch, Hong Kong Branch, Cayman Islands Branch, Shenzhen Branch and the Representative Offices in Beijing, Shanghai, Kunming and Tokyo, which greatly facilitate international trade and financial service transactions between Thailand and our trade partners worldwide.

Throughout the past 66 years, the Bank has always strived to develop our organization and offer financial product initiatives plus excellent service delivery to match our slogan, “Towards Service Excellence”

Kasikornbank Logo


  • The Circle symbolizes balance, continuity and complete perfection
  • Sheaves of rice the symbol of growth and prosperity
  • Water ( waves ) The element needed for growth and prosperity in nature and a symbol for money
  • 6 Waves correspond to the 6th Star, the Money Star

Kasikorn bank colors.

  • Green represents the element of wood. The bank was founded in the ‘Year of the Element of Wood’
  • Grey represents the element of water; dark gray to represent deep water and signify the depth and strength of the bank’s financial resources
  • Red represents the element of fire, the element which completes the dynamic synergy in nature with the elements of water and wood

Kasikorn bank website.

Kasikornbank Website in English


Bank of Ayudhya Public Company Limited was established on January 27, 1945, and its ordinary shares were listed on the Stock Exchange of Thailand in 1977. The Bank is currently the fifth largest bank in Thailand in terms of loans and deposits. KRUNGSRI provides a full range of banking services to both commercial and individual customers.


Krungsri logo
Krungsri logo 2

Major Development

  • On January 3, 2007, KRUNGSRI and GE Money, a global consumer financial services firm, have successfully become strategic partners, reflecting GE’s commitment and confidence in KRUNGSRI . The goal is to leverage the synergy of the two organizations enabling KRUNGSRI to become a leading universal bank in Thailand.
  • On February 14, 2008, the Bank completed its acquisition of GE Capital Auto Lease Public Company Limited (GECAL). On the transfer date, GECAL recorded THB 78.01 billion in assets and THB 75.28 billion in outstanding loans, resulting in a 17% increase in the Bank’s portfolio size on that date. GECAL has later been renamed as Ayudhya Capital Auto Lease Company Limited (AYCAL).
  • On April 8, 2009, the Bank completed the acquisition of AIG Retail Bank Public Company Limited (AIGRB) and AIG Card (Thailand) Company Limited (AIGCC). The value of the transaction is THB 1.6 billion. KRUNGSRI ‘s acquisition of both entities resulted in an increase of THB 32.8 billion in the Bank’s assets, THB 21.9 billion in loan, THB 18.6 billion in deposit, and approximately 222,000 credit cards.
  • On September 9, 2009, the Bank completed the acquisition of CFG Services Company Limited (CFGS), a subsidiary of American International Group, Inc. CFGS, better known as “Sriwad Mondy on Wheels”, is one of Thailand’s leading providers of microfinance with strong presence in the title loan market. It had 163 branches nationwide.
  • On November 5, 2009 Bank of Ayudhya Completes Acquisition of GE Capital’sConsumer Finance Businesses in Thailand. The acquisition of GEMT accelerates the growth of KRUNGSRI consumer banking portfolio by increasing its retail lending portfolio from 36% to 42% of KRUNGSRI total loans. The acquisition of GEMT will enhance KRUNGSRI competitiveness, adding significant scale and diversity to KRUNGSRI core consumer banking business. With the addition of GEMT’s current portfolio, KRUNGSRI is now the largest card issuer in Thailand with over 3 million cards in circulation and serving over 8 million customers.

Shareholding Structure as of September 2011 : Issued and paid-up share capital: 60,741 million Baht



Krungsri bank website.

Krungsribank Website in English