Krungthai Bank

Krungthai Bank (Thai: ธนาคารกรุงไทย; RTGS: Thanakhan Krung Thai), officially Krungthai Bank Public Company Limited, and sometimes known by its initials KTB, is a state-owned bank under license issued by the Ministry of Finance. KTB's Swift code is KRTHTHBK.

Krungthai Bank
Native name
ธนาคารกรุงไทย
TypePublic
SET: KTB
IndustryBanking
Founded14 March 1966 (1966-03-14)[1]
Headquarters
Wattana, Bangkok
,
Thailand[2]
Area served
Thailand, Cambodia, Laos, India[3]
Key people
Areepong Bhoocha-oon, Chairman
Vorapak Tanyawong, President[4]
Revenue 117,221.1 million baht (2018)[3]
31,089.3 million baht (2018)[3]
Total assets 2,739,203.2 million baht (2018)[3]
Total equity 314,1413.1 million baht (2018)[3]
Number of employees
29,226 (2018)[3]
Websitekrungthai.com

History

The bank came into being on 14 March 1966 following the merger of two government-owned banks, Kaset Bank and Monton Bank.[5] The merged banks were then named "Krungthai Bank Limited", bearing its logo as an image of the Vayupaksa bird, which is also used by the Ministry of Finance.

On 2 August 1989, Krungthai Bank was the first state enterprise to list its shares on the Stock Exchange of Thailand (SET).[6] Its major shareholder is the Ministry of Finance through a shareholding of 6,184 billion shares by the Financial Institutions Development Fund (FIDF), accounting for 55.31 percent of total shares.

In addition to commercial banking activities, Krungthai Bank has served as a channel for financial services in support of governmental initiatives. It does this by lending to businesses of certain types, such as One Tambon One Product (OTOP) loans, ICT computer loans, and educational loans. Moreover, the bank is used by most government agencies for disbursements. For example, the revenue department issues tax refunds via Krungthai cheque and it handles disbursement of government funds such as pension payments.

During Thailand's economic crisis, the bank supported the government policy of stimulating the national economy by providing the "Thai Khem Kheng Stimulus Package 2012" to boost liquidity.

In 2016, Krungthai was selected as "Best Trade Finance Provider in Thailand 2016" by Global Finance magazine based on input from industry analysts, corporate executives and technology experts. Criteria for choosing the winners included: transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.[7]

As of February 2017, Krungthai has the largest number of domestic branches of any Thai bank, 1,210.[8]

Overseas branches

The bank has branches in Phnom Penh and Siem Reap (sub-branch) in Cambodia, Vientiane in Laos, and Mumbai in India.[3] The bank also has wholesale banking branches in Kunming, Los Angeles and Singapore.[3]

References
  1. Krungthai Bank (2011). 2010 Annual Report (PDF). Retrieved 17 November 2011.
  2. Krungthai Bank. "Contact us". Archived from the original on 26 November 2011. Retrieved 17 November 2011.
  3. "Annual Report 2018" (PDF). Krungthai Bank. Retrieved 13 September 2019.
  4. Krungthai Bank Annual Report 2014 (PDF). Bangkok: Krungthai Bank. 2015. Retrieved 29 December 2015.
  5. "About KTB: Roots of Stability". Krungthai Bank. Retrieved 29 December 2015.
  6. Stock Exchange of Thailand. "Company Summary". Retrieved 17 November 2011.
  7. "Global Finance Names The World's Best Trade Finance Providers 2016". Global Finance. 2016-01-20. Retrieved 8 May 2016.
  8. "FI_CB_060_S2 Number of All Branches of Commercial Banks". Bank of Thailand (BOT). Retrieved 24 March 2017.
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