Bank of Ayudhya

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Bank of Ayudhya PCL
Native name
ธนาคารกรุงศรีอยุธยา จำกัด มหาชน
Public Company Limited
Traded asSETBAY
Founded27 January 1945; 73 years ago (1945-01-27)[1]
Headquarters1222 Rama III Rd, Yan Nawa, Bangkok 10120
Key people
Veraphan Teepsuwan
Noriaki Goto
(President and CEO)
RevenueIncrease 111,840 million baht (2016)[2]
Increase 21,404 million baht(2016)[3]:19
Total assetsIncrease 1,833,188 million baht (2016)[3]:19
Total equityIncrease 208,768 million baht(2016)[3]:19
Number of employees
22,834 (2015)[1]
ParentBank of Tokyo-Mitsubishi UFJ[1]

Bank of Ayudhya Public Company Limited, branded and commonly referred to as Krungsri (sometimes stylized as krungsri), is the fifth largest bank in Thailand in terms of assets, loans, and deposits.[4]:5 Through its branches and service outlets in Thailand and abroad, the company provides banking, consumer finance, investment, asset management, and other financial products and services to small and medium enterprises, large corporations and individual customers.


The Bank of Ayudhya was established on 27 January 1945 in Phra Nakhon Si Ayutthaya Province, the old capital of Thailand. The bank opened its doors on 1 April 1945 with registered capital of one million baht.

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 the king to the bank on 15 May 1970. The bank was listed on the Stock Exchange of Thailand on 26 September 1977, trading symbol, "BAY".[1]

On 3 January 2007, Krungsri and GE Capital became strategic partners. GE Capital and Ratanarak Group were major shareholders with a 33 percent and a 25 percent stake in BAY, respectively.

In September 2012, GE announced the sale of 7.6 percent of its stake in Krungsri via a number of block trades, reducing their ownership to 25.33 percent.[5]

On 18 December 2013, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), the wholly owned subsidiary of Mitsubishi UFJ Financial Group (MUFG), Japan's largest banking group, replaced GE Capital as the major shareholder of Krungsri.

Name and brand[edit]

After having undergone many changes in the late 2000s, including the acquisition of GE Money Thailand, and in order to reach its goal of becoming one of the top three banks in Thailand, Bank of Ayudhya felt the need to visually unify its subsidiaries. Also, the company was perceived as an "old lady bank".[6] Therefore, in 2014, Bank of Ayudhya rebranded to "Krungsri" (shortened from กรุงศรีอยุธยา, "capital city/revered city Ayutthaya"), a name the bank was already colloquially known as.

In news articles, the formal and colloquial names are used interchangeably, while for the bank's own marketing (such as logos, URL, storefronts, ATMs, bank cards and promotional material) "Krungsri" is used.

Distribution network[edit]

  • Domestic branches: 695 (658 banking branches and 37 auto-business branches)[4]:7
  • Overseas branches: 3 (Hong Kong, Vientiane, Savannakhet)[4]:7
  • Exchange booths: 95[3]:348
  • ATMs: 6,250[4]:7
  • Krungsri business centers: 83[4]:7
  • Krungsri Exclusive Banking Zones : 29[3]:348
  • Krungsri First-Choice branches and dealers: 112 and 16,689 respectively
  • Krungsri Auto Dealers: >7,000
  • Micro finance branches: 382[1]

Major developments and acquisitions[edit]

  • On 3 January 2007, Bank of Ayudhya (Krungsri) and GE Money, a global consumer financial services firm, became strategic partners.[citation needed]
  • On 14 February 2008, Krungsri completed its acquisition of GE Capital Auto Lease Public Company, Ltd. (GECAL). On the transfer date, GECAL recorded 78.01 billion baht in assets and 75.28 billion baht in outstanding loans, resulting in a 17 percent increase in the bank's portfolio on that date. GECAL was later renamed Ayudhya Capital Auto Lease Company Limited (AYCAL).[citation needed]
  • On 8 April 2009, Krungsri completed the acquisition of AIG Retail Bank PCL (AIGRB) and AIG Card (Thailand) Company Limited (AIGCC). The value of the transaction was 1.6 billion baht. Krungsri's acquisition of both entities resulted in an increase of 32.8 billion baht in the bank's assets, 21.9 billion baht in loans, 18.6 billion baht in deposits, and approximately 222,000 credit cards.[citation needed]
  • On 9 September 2009, Krungsri completed the acquisition of CFG Services Co., Ltd. (CFGS), a subsidiary of American International Group. 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.[citation needed]
  • On 5 November 2009 Krungsri completed the acquisition of GE Capital's consumer finance businesses in Thailand. The acquisition of GEMT accelerated the growth of Krungsri's consumer banking portfolio by increasing its retail lending portfolio from 36 percent to 42 percent of Krungsri's total loans. With the addition of GEMT's current portfolio, Krungsri is the largest card issuer in Thailand with over three million cards in circulation, serving over eight million customers.[citation needed]
  • In March 2012, Krungsri completed the acquisition of HSBC Thailand's retail banking businesses, including credit cards, personal loans, mortgages, and deposits with an estimated consideration of 3.6 billion baht. As a result of the transaction, Krugnsri Group's assets grew by roughly 17.5 billion baht or 1.8 percent, increasing retail loans from 45 to 46 percent of total loans.[citation needed]
  • On 5 January 2015, the Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) Bangkok Branch was successfully integrated into Krungsri, in accordance with the One Presence Policy of the Bank of Thailand. Krungsri issued 1,281,618,026 ordinary shares to BTMU for the transfer of the business of BTMU Bangkok Branch.[citation needed]

Subsidiaries, associates and joint ventures[edit]

Bank of Ayudhya's investments in subsidiaries, associates and joint ventures net as of 31 December 2016 and 2015.[3]:286-288

Major shareholders[edit]

Rank Major Shareholders[3]:341 Shares # Shares %
1 The Bank of Tokyo-Mitsubishi UFJ, Ltd. BAY Account 5,655,332,146 76.88
2 Stronghold Assets Company Limited 166,536,980 2.26
3 The Great Luck Equity Company Limited 166,478,940 2.26
4 GL Asset Company Limited 166,414,640 2.26
5 BBTV Satelvision Company Limited 166,151,114 2.26
As of 9 September 2016


  1. ^ a b c d e "Factsheet: Bank of Ayudhya Public Company Limited". Bank of Ayudhya. Retrieved 3 March 2016.
  2. ^ "BAY: BANK OF AYUDHYA PUBLIC COMPANY LIMITED". Stock Exchange of Thailand (SET). Retrieved 1 April 2017.
  3. ^ a b c d e f g KRUNGSRI ANNUAL REPORT 2016. Bangkok: Bank of Ayudhya PLC. 2017. Retrieved 1 April 2017.
  4. ^ a b c d e "Bank of Ayudhya PCL: Corporate Profile". Bank of Ayudhya. December 2016. Retrieved 1 April 2017.
  5. ^ Stock Exchange of Thailand. "Major Shareholders". Retrieved 16 May 2012.
  6. ^ "Krungsri". Rebrand. Retrieved 1 April 2017.

External links[edit]

See also[edit]

List of banks in Thailand