Siam Commercial Bank

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Siam Commercial Bank
Type Public
Traded as SETSCB
Industry Banking
Real estate
Founded 1904 (1904)
Founder(s) King Rama V
Headquarters Bangkok, Thailand
Revenue Increase BT฿ 164.96 Billion (2013)
Net income Increase BT฿ 50.23 Billion (2013)
Total assets Increase BT฿ 2,534.20 Billion (2013)
Total equity Increase BT฿ 246.27 Billion (2013)
Owner(s) Crown Property Bureau
Thai Ministry of Finance

Siam Commercial Bank (Thai: ธนาคารไทยพาณิชย์) is the first bank of Thailand, informally established in 1904 as Book Club. Nowadays it is a universal banking group in Thailand.


Established by Royal Charter in 1907, Siam Commercial Bank PCL (SCB) was Thailand's first bank. At the time of its establishment, the only banks in the country (then known as Siam) were branch offices of foreign banks. SCB currently provides a comprehensive range of financial products and services through its branch, exchange booth, ATM network, and Business Relationship Centers (BRC) nationwide.

Market Capitalization and Asset Data

At the end of December 2011, SCB's market capitalization stood at 396 billion baht, the highest among Thailand's financial institutions, with assets of 1,878 billion baht. SCB's branch, exchange booth, and ATM networks totaled 1,100, 114, and 7,678 units respectively, the highest in the banking sector.[citation needed]


Garuda at a branch in Khon Kaen, signifying the royal warrant given by the King of Thailand

SCB was founded as the “Book Club” on October 4, 1904 by HRH the Prince Mahisara Rajaharudaya, a brother of King Chulalongkorn (Rama V), who was convinced that the time was ripe for Siam to have its own banking system to help foster the country’s economic development, rather than rely solely on the efforts of foreign banks operating branches in the country. The name “Book Club” was chosen in an effort to keep the project sub rosa as it was something of an experiment. After the success of the “Book Club”, King Chulalongkorn granted royal approval for it to officially operate as a commercial bank under the name “The Siam Commercial Bank” on January 30, 1907.

SCB opened its headquarters in Bangkok’s Talad Noi District in 1910. In 1911, it was granted approval to display the royal Garuda symbol as a royal warrant by King Vajiravudh (Rama VI).[1]

Some significant developments:

  • 1912: SCB opened its first branch in the Ratchawong pier area of Sampeng District.
  • 1920: SCB opened its first regional branch in Thung Song District, Nakhon Si Thammarat province.
  • 1927–1930: SCB established its first branches in the Northern Region in Chiang Mai and Lampang.
  • 27 Jan 1939: SCB changed its name to “Siam Commercial Bank” in English, and “Thanakarn Thai Panich” in Thai.
  • 1971: SCB’s head office moved from Talad Noi District to Petchburi Road to support the growth of its operations.
  • 1983: SCB introduced Thailand’s first ATM service[2] and established the Thai Bank Museum
  • 19 Feb 1993: SCB registered as a public company and was henceforth known as “Siam Commercial Bank Public Company Limited”.
  • 29 Jan 1996: SCB moved its headquarters to SCB Park Plaza on Ratchadaphisek Road in the Jatujak District of Bangkok and recorded assets of over 500 billion baht.
  • 30 Jan 2007: the Bank celebrated its 100th anniversary; HRH Princess Maha Chakri Sirindhorn presided over the celebrations at SCB headquarters.


SCB exchange booth at Suvarnabhumi Airport, Bangkok

The Bank provides financial products and services through SCB core business groups:

  • The Retail Banking Group provides home loans, personal credit, car hire purchase, credit cards, ATM cards, debit cards, currency exchange facilities, and overseas remittance, as well as investment and bank assurance.
  • The Corporate Banking Group offers loans and consultancy and advisory services to organizations.
  • The Business Banking Group delivers financial products and services to businesses in the small-to-medium enterprise (SME) sector through Business Relationship Centers (BRCs) nationwide, providing banking advice and managing customer financial needs.
  • Global Transaction Services provides financial transaction products for larger corporations and SME customers. Its products include business cash management, trade finance, and corporate trust.
  • The Special Assets Group manages the bulk of the Bank’s portfolio of non-performing loans (NPLs) and non-performing assets (NPAs).
  • The Treasury Group offers a range of treasury products covering liquidity, interest rates, and exchange rate instruments.

Board of directors[edit]

  • Mr. Anand Panyarachun, Chairman of the Board
  • Dr. Vichit Suraphongchai, Chairman of the Executive Committee
  • Mrs. Kannikar Chalitaporn, President


  1. ^ "1904-1932 Laying the Foundation of Thai Banking". Siam Commercial Bank. 2010. Retrieved January 12, 2011. 
  2. ^ National Science and Technology Development Agency (1993). "A chairman's view on the Thai economy". Scientific American Supplement on Thailand. Retrieved 2008-12-31. 

External links[edit]