Bank of Ayudhya

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Bank of Ayudhya
Public Company Limited
Traded as SETBAY
Founded 27 January 1945; 72 years ago (1945-01-27)[1]
Headquarters 1222 Rama III Rd, Yan Nawa, Bangkok 10120
Key people
Veraphan Teepsuwan
Noriaki Goto
(President and CEO)
Services Banking
Revenue Increase 106,784 million baht (2015)[2]
Increase 18,852 million baht(2015)[1]
Total assets Increase 1,705,517 million baht (2015)[1]
Total equity Increase 190,748 million (2015)[1]
Number of employees
22,834 (2015)[1]
Parent The Bank of Tokyo - Mitsubishi UFJ, Ltd. (BTMU)[1]

Bank of Ayudhya Public Company Limited (Thai: ธนาคารกรุงศรีอยุธยา จำกัด (มหาชน)), commonly—and confusingly—referred to as Krungsri (กรุงศรี), is a commercial bank based in Thailand. The bank ranks as the fifth largest bank in Thailand in terms of assets, loans, and deposits.[1] 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 and abroad.


The bank was established on 27 January 1945 in Phra Nakhon Si Ayutthaya Province, the old capital of Thailand. The Bank of Ayudhya 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.[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[3]

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 and one of the world's largest and most diversified financial groups, replaced GE Capital as the major shareholder of Krungsri.

Distribution network[edit]

  • Domestic branches: 673 (636 are banking branches; 37 are auto business branches)
  • Overseas branches: 3 (Hong Kong, Vientiane, Savannakhet)
  • Exchange booths: 93
  • ATMs: 5,635
  • Krungsri business centers: 55
  • Krungsri Exclusive : 19
  • Krungsri First Choice branches plus dealers: 112 + 16,689
  • 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 Limited (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 Public Company Limited (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 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.[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 and related companies[edit]

Name of Subsidiary Ownership %
Credit card, personal loan, and 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
Krungsri Leasing Services Company Limited (KLS) 70.00
Micro finance
CFG Services Company Limited (CFGS) 99.99
Collection services
Total Services Solutions Public Company Limited (TSS) 99.99
Investment management
Krungsri Asset Management Company Limited (KSAM) 76.59
Asset management
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
Support business
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 brokers
Krungsri General Insurance Broker Limited (KGIB) 99.99
Tesco General Insurance Broker Limited (TGIB) 50.00
* Company under dissolution and liquidation process

Major shareholders[1][edit]

Rank Major Shareholders 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 11 September 2015


  1. ^ a b c d e f g h i j "Factsheet: Bank of Ayudhya Public Company Limited". Bank of Ayudhya. Retrieved 3 March 2016. 
  2. ^ "BAY: BANK OF AYUDHYA PUBLIC COMPANY LIMITED; Company Highlights". The Stock Exchange of Thailand (SET). Retrieved 3 March 2016. 
  3. ^ Stock Exchange of Thailand. "Major Shareholders". Retrieved 16 May 2012. 

External links[edit]

See also[edit]

List of banks in Thailand