Bank of Ayudhya
Make Life Simple
|Type||Public Company Limited|
|Traded as||SET: BAY|
|Founded||January 27, 1945|
|Headquarters||1222 Rama III Road Yan Nawa Bangkok 10120|
Mr. Veraphan Teepsuwan (Chairman)
Mr. Philip Tan (President)
|Revenue||94,043 million baht (2013) |
|Net income||11,867 million baht (2013) |
|Total assets||1,179,582 million baht (2013) |
|Total equity||121,369 million baht (2013) |
|Employees||19,471 Krungsri Group|
Bank of Ayudhya Public Company Limited (Thai: ธนาคารกรุงศรีอยุธยา จำกัด (มหาชน)) is a commercial bank based in Thailand. The bank has been operating as a commercial bank for more than 60 years. The Head Office is located on Rama III Road and was officially reopened on May 30, 1997. The bank ranks as the fifth largest bank in Thailand in terms of assets, loans and deposits. KRUNGSRI provides banking, consumer finance, investment, asset management and other financial products and services to individual customers, SMEs, and large corporations through its branches and service outlets nationwide.
The bank was established on 27 January 1945 in Phra Nakhon Si Ayutthaya Province, the old capital of Thailand back in 1350. Bank of Ayudhya officially opened its door on April 1, 1945 with a registered capital of one million baht. During the same year, the Bank's Head Office was founded on Rajawongse Road in Bangkok.
The Bank's Head Office was relocated to the corner of Anuwongse Road in 1948 and to Lampoonchai Road in 1950. The official inauguration ceremony was conducted in 1951 to mark business growth of the Bank and accommodate an augmented number of customers. In 1970, the Bank's Head Office was relocated to Ploenchit Road, coinciding with the Bank's celebration of the Royal Appointment (Garuda) Emblem, granted by His Majesty the King, to the Bank on 15 May 1970. The Bank listed on the Stock Exchange of Thailand on September 28, 1977. (SET: BAY)
In December 1996, the Bank relocated the Head Office to Rama III Road. The new Head Office of the Bank was officially opened on May 28, 1997.
On 3 January 2007, BAY and GE Capital became strategic partners. GE Capital and Ratanarak Group were major shareholders with a 33% and a 25% stake in BAY, respectively.
On December 18, 2013, The Bank of Tokyo - Mitsubishi UFJ, Ltd. (BTMU), which is the wholly owned subsidiary of Mitsubishi UFJ Financial Group (MUFG), Japan’s largest banking group and one of the world’s largest and most diversified financial groups, replaced GE Capital as the major strategic shareholder of Krungsri.
- Domestic Branches: 610
- Overseas Branches: 4
- Exchange Booths: 81
- ATMs: 4,779
- Krungsri Centres: 55
- Exclusive Banking Zone: 19
- First Choice Branches + Dealers: 53 + 12,749
- Krungsri Auto Branches + Dealers: 43 + 6,300
- Micro Finance Branches: 295
As of March 2014
Major Developments / Acquisitions
- On January 3, 2007, Bank of Ayudhya (KRUNGSRI) and GE Money, a global consumer financial services firm, have become strategic partners.
- On February 14, 2008, Krungsri 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, Krungsri 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, Krungsri completed the acquisition of CFG Services Company Limited (CFGS), a subsidiary of American International Group, Inc. CFGS, better known as "Srisawad Money on Wheels", is one of Thailand's leading providers of microfinance with strong presence in the title loan market.
- On November 5, 2009 Krungsri completed acquisition of GE Capital's Consumer 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.
- In March 2012, Krungsri completed acquisition of HSBC Thailand's retail banking businesses - including credit cards, personal loans, mortgages, and deposits with an estimated consideration of THB 3.6 billion. As a result of the transaction, Krugnsri Group's assets grew by roughly THB 17.5 billion or 1.8%, increasing retail loans from 45% to 46% of total loans.
Subsidiaries & Related Companies
|Name of Subsidiaries||Ownership %|
|Credit Cards, Personal Loan & Sale Finance|
|Ayudhya Card Services Company Limited (AYCS) *||99.99%|
|Ayudhya Capital Services Company Limited (AYCAP)||99.99%|
|General Card Services Limited (GCS)||99.99%|
|Krungsriayudhya Card Company Limited (KCC)||99.99%|
|Tesco Card Services Limited (TCS)||50.00%|
|Auto Hire Purchase and Leasing|
|Ayudhya Capital Auto Lease Public Company Limited (AYCAL)||99.99%|
|Ayudhya Total Solutions Public Company Limited (AYTS) *||99.81%|
|CFG Services Company Limited (CFGS)||99.99%|
|Total Services Solutions Public Company Limited (TSS)||99.99%|
|Krungsri Asset Management Company Limited (KSAM)||76.59%|
|Krungsri Ayudhya AMC Limited (KAMC)||99.99%|
|Krungsri Securities Public Company Limited (KSS)||98.71%|
|Krungsri Factoring Company Limited (KSF)||99.99%|
|Ayudhya Development Leasing Company Limited (ADLC)||99.99%|
|Siam Realty and Services Company Limited (SRS)||99.99%|
|Life Insurance Broker|
|Krungsri Life Assurance Broker Limited (KLAB)||99.99%|
|Tesco Life Assurance Broker Limited (TLAB)||50.00%|
|Non-life Insurance Broker|
|Krungsri General Insurance Broker Limited (KGIB)||99.99%|
|Tesco General Insurance Broker Limited (TGIB)||50.00%|
- * Company under dissolution and liquidation process
|Rank||Major Shareholders||Shares #||Shares %|
|1||The Bank of Tokyo-Mitsubishi UFJ, Ltd. BAY Account||4,373,714,120||72.01%|
|2||Stronghold Assets Company Limited||168,536,980||2.74%|
|3||The Great Luck Equity Company Limited||166,478,940||2.74%|
|4||GL Asset Company Limited||166,414,640||2.74%|
|5||BBTV Satelvision Company Limited||166,151,114||2.74%|
- As of 13 March 2014
- Stock Exchange of Thailand. "Company Summary". Retrieved 17 November 2011.
- Stock Exchange of Thailand. "Company Highlights". Retrieved 17 November 2011.
- Annual Report 2012, p. 16.
- Stock Exchange of Thailand. "Major Shareholders". Retrieved 16 May 2012.
- Bank of Ayudhya (20 March 2012). 2011 Annual Report. Retrieved 16 May 2012.
- Bank of Ayudhya (30 March 2012). Annual Registration Statement (Form 56-1) As of December 31, 2011. Retrieved 16 May 2012.