Krung Thai Bank
Encyclopedia
Krung Thai Bank Public Company Limited is the state-owned bank under the license issued by the Ministry of Finance
.
Krungthai Bank thus became a large bank after the merger and conducted banking business with good performance and sound financial standing as well as wider range of services through time. As a result, the existing Head office was not spacious enough for the expanding operation in 1982, the Bank relocates its Head Office to No.35 Sukhumvit Road, Watthana District, Bangkok and this headquarters has been used to date.
The bank has succeeded well in business operation and enjoyed stable and rapid growth while making improvement and broadening its organization to better respond to the customer needs. Back in 1988, Krungthai bank was the only commercial bank having branch network and ATMs in all provinces nationwide.
Furthermore, Krungthai Bank was the first state enterprise that listed its share on the Stock Exchange of Thailand
on August 2, 1989 . Its major shareholder is currently the Ministry of Finance through shareholding of 6,184 billion shares by the Financial Institutions Development Fund (FIDF) accounting for 55.31% of the total shares.
Apart from conducting commercial banking business like other commercial banks in general, Krungthai Bank has served as the government’s channel to render financial services in response to the government policies through lending to businesses of certain type, such as, One-Tambon-One-Product (OTOP) loan, ICT Computer loan, Education loan. Moreover, the Bank is the top choice for most government agencies, for example, the Revenue Department, refunding tax by Krungthai Cheque, and disbursement of government budget including payment of pension to pensioners.
During Thailand economic crisis, the Bank has supported the government policy in stimulating national economy by providing the “Thai Khem Kheng stimulus package 2012” to boost Thai entrepreneurs’ liquidity.
The Bank’s office hours are different from other commercial banks, which are adjusted to suited the economic environment and commercial operations. However, Krungthai Bank’s office hours are more in line with working hours of state enterprises and government agencies. Currently, the Bank is open until 4.30 pm. while other banks close before that time.
• KTB Leasing Company Limited (เคทีบี ลิซซิ่ง)
• Krungthai card Public Company Limited (KTC)
• Krungthai IBJ Leasing Company Limited
Capital Market and financial advisory business
• KT ZMICO Securities Company Limited
• Krungthai Asset Management Public Company Limited (KTAM)
• KTB Advisory Company Limited (KTBA)
Insurance business
• Krungthai –AXA Life insurance Company Limited
• Krungthai Panich Insurance Company Limited (KPI)
Supporting business
• Krungthai Computer Services Company Limited (KCS)
• Krungthai General Services Company Limited (KGS)
• Krungthai Legal Services Company Limited (KLS)
Krungthai Bank’s status of founder or shareholder of its subsidiaries companies is considered as state enterprise business in general but in the form of subsidiaries of a state enterprise.
Transferred Banks and Business Transfer
After the Thai government’s majority shareholding, the two bank below had their former name as follows:
• Agriculture Bank Company Limited, established in 1950
• Mondhon Bank Company Limited, established in 1942, formerly named Thai Bank Limited
These two banks were merged into Krungthai Bank Limited under the Royal Thai Government policy on March 14, 1966.
Other Bank’s Businesses Transferred to Krungthai Bank
• Sayam Bank Company Limited, formerly named was Asia Trust Bank Limited, founded in 1965 with its name changed in 1984. It transferred the business on August 17, 1987. , certain part of which became Thippayasin Co, Ltd to oversee debtors of Sayam Bank Limited.
• Bangkok Bank of Commerce Public Company Limited ceased operation in 1998. In this very year, Krungthai Bank accepted the transfer of only quality assets, liabilities, and budgets form BBC.
• First Bangkok City Bank Public Company Limited (FBCB) transferred its business to KTB November 2. 1998.
Krungthai Bank as Transferrer of Business to Other Bank
• Krungthai Bank’s financial service under Shariah principle, also known as Krungthai Shariah Bank is the financial service in accordance with the Islamic principle. The service managed the service itself and transferred it on on November 9, 2005 to the Islamic Bank of Thailand..
Ministry of Finance (Thailand)
The Ministry of Finance of the Kingdom of Thailand is a Cabinet Ministry in the Government of Thailand. It is considered to be one of the country's most important Ministry...
.
History
The bank was incorporated on March 14, 1966 through the merger of Agriculture Bank Limited and Mondhon Bank Limited, which the government was their major shareholder. The merged banks was then named ‘Krungthai Bank Limited’, bearing its logo as an image of Vayupaksa Bird that is also the Ministry of Finance’s with the head office on Yawaraj Road in the early stage..Krungthai Bank thus became a large bank after the merger and conducted banking business with good performance and sound financial standing as well as wider range of services through time. As a result, the existing Head office was not spacious enough for the expanding operation in 1982, the Bank relocates its Head Office to No.35 Sukhumvit Road, Watthana District, Bangkok and this headquarters has been used to date.
The bank has succeeded well in business operation and enjoyed stable and rapid growth while making improvement and broadening its organization to better respond to the customer needs. Back in 1988, Krungthai bank was the only commercial bank having branch network and ATMs in all provinces nationwide.
Furthermore, Krungthai Bank was the first state enterprise that listed its share on the Stock Exchange of Thailand
Stock Exchange of Thailand
The Stock Exchange of Thailand is the national stock exchange of Thailand. It is located in Bangkok. As of 31 December 2007, the Stock Exchange of Thailand had 541 listed companies with a combined market capitalization of $280 billion. The indices of the stock exchange are SET Index, SET50 Index...
on August 2, 1989 . Its major shareholder is currently the Ministry of Finance through shareholding of 6,184 billion shares by the Financial Institutions Development Fund (FIDF) accounting for 55.31% of the total shares.
Apart from conducting commercial banking business like other commercial banks in general, Krungthai Bank has served as the government’s channel to render financial services in response to the government policies through lending to businesses of certain type, such as, One-Tambon-One-Product (OTOP) loan, ICT Computer loan, Education loan. Moreover, the Bank is the top choice for most government agencies, for example, the Revenue Department, refunding tax by Krungthai Cheque, and disbursement of government budget including payment of pension to pensioners.
During Thailand economic crisis, the Bank has supported the government policy in stimulating national economy by providing the “Thai Khem Kheng stimulus package 2012” to boost Thai entrepreneurs’ liquidity.
The Bank’s office hours are different from other commercial banks, which are adjusted to suited the economic environment and commercial operations. However, Krungthai Bank’s office hours are more in line with working hours of state enterprises and government agencies. Currently, the Bank is open until 4.30 pm. while other banks close before that time.
Financial business group of companies
Credit- related business• KTB Leasing Company Limited (เคทีบี ลิซซิ่ง)
• Krungthai card Public Company Limited (KTC)
• Krungthai IBJ Leasing Company Limited
Capital Market and financial advisory business
• KT ZMICO Securities Company Limited
• Krungthai Asset Management Public Company Limited (KTAM)
• KTB Advisory Company Limited (KTBA)
Insurance business
• Krungthai –AXA Life insurance Company Limited
• Krungthai Panich Insurance Company Limited (KPI)
Supporting business
• Krungthai Computer Services Company Limited (KCS)
• Krungthai General Services Company Limited (KGS)
• Krungthai Legal Services Company Limited (KLS)
Krungthai Bank’s status of founder or shareholder of its subsidiaries companies is considered as state enterprise business in general but in the form of subsidiaries of a state enterprise.
Transferred Banks and Business Transfer
After the Thai government’s majority shareholding, the two bank below had their former name as follows:
• Agriculture Bank Company Limited, established in 1950
• Mondhon Bank Company Limited, established in 1942, formerly named Thai Bank Limited
These two banks were merged into Krungthai Bank Limited under the Royal Thai Government policy on March 14, 1966.
Other Bank’s Businesses Transferred to Krungthai Bank
• Sayam Bank Company Limited, formerly named was Asia Trust Bank Limited, founded in 1965 with its name changed in 1984. It transferred the business on August 17, 1987. , certain part of which became Thippayasin Co, Ltd to oversee debtors of Sayam Bank Limited.
• Bangkok Bank of Commerce Public Company Limited ceased operation in 1998. In this very year, Krungthai Bank accepted the transfer of only quality assets, liabilities, and budgets form BBC.
• First Bangkok City Bank Public Company Limited (FBCB) transferred its business to KTB November 2. 1998.
Krungthai Bank as Transferrer of Business to Other Bank
• Krungthai Bank’s financial service under Shariah principle, also known as Krungthai Shariah Bank is the financial service in accordance with the Islamic principle. The service managed the service itself and transferred it on on November 9, 2005 to the Islamic Bank of Thailand..