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||99,157 million baht (2013) |
|Net income||14,138 million baht (2013) |
|Total assets||1,181,734 million baht (2013) |
|Total equity||121,369 million baht (2013) |
|Employees||19,471 (2013)Krungsri Group|
Bank of Ayudhya Public Company Limited (Thai: ธนาคารกรุงศรีอยุธยา จำกัด (มหาชน)), commonly referred to as Krungsri (กรุงศรี), 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 on Bangkok's Rama III Road and was officially opened on 30 May 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, small and medium enterprises (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. The Bank of Ayudhya officially opened its doors on 1 April 1945 with registered capital of one million baht. During the same year, the bank's head office was established 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 the growth of the bank and to 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 28 September 1977. (SET: BAY)
On 3 January 2007, Krungsri 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 18 December 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 shareholder of Krungsri.
% Share / Market Position
- Personal Loan 27% / #1
- Credit Card 15 % #1
- Auto (HP) 18% / #2
- SME 8% / #5
- Corporate 7% / #5
Retail Loan Breakdown
- Domestic Branches: 612
- Overseas Branches: 4
- Exchange Booths: 83
- ATMs: 4,969
- Krungsri Centres: 55
- Exclusive Banking Zone: 19
- First Choice Branches + Dealers: 78 + 13,244
- Krungsri Auto Branches + Dealers: 43 + 6,300
- Micro Finance Branches: 315
As of September 2014
Major Developments / Acquisitions
- On 3 January 2007, Bank of Ayudhya (Krungsri) and GE Money, a global consumer financial services firm, became strategic partners.
- On 14 February 2008, Krungsri completed its acquisition of GE Capital Auto Lease Public Company Limited (GECAL). On the transfer date, GECAL recorded THB78.01 billion in assets and THB75.28 billion in outstanding loans, resulting in a 17% increase in the bank's portfolio on that date. GECAL was later renamed Ayudhya Capital Auto Lease Company Limited (AYCAL).
- On 8 April 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 was THB1.6 billion. Krungsri's acquisition of both entities resulted in an increase of THB32.8 billion in the bank's assets, THB21.9 billion in loans, THB18.6 billion in deposits, and approximately 222,000 credit cards.
- On 9 September 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 micro-finance with a strong presence in the title loan market.
- On 5 November 2009 Krungsri completed acquisition of GE Capital's Consumer Finance Businesses in Thailand. The acquisition of GEMT accelerates the growth of Krungsri's consumer banking portfolio by increasing its retail lending portfolio from 36% to 42% of Krungsri's 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 THB3.6 billion. As a result of the transaction, Krugnsri Group's assets grew by roughly THB17.5 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 11 September 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 (7 March 2014). 2013 Annual Report. Retrieved 21 Jul 2014.
- Bank of Ayudhya (30 March 2012). Annual Registration Statement (Form 56-1) As of December 31, 2011. Retrieved 16 May 2012.