Krungthai Bank

Krung Thai Bank

File:Krung Thai Bank (logo).jpg
Company type	Public
Traded as	SET: KTB
Industry	Banking
Founded	March 14, 1966 (1966-03-14)
Headquarters	35 Sukhumvit Road, Khlong Toei Nuea, Wattana, Bangkok , Thailand
Area served	Thailand
Key people	Mr. Areepong Bhoocha-oon, Chairman Mr Vorapak Tanyawong, President
Revenue	฿139.44 billion (2014)
Net income	฿33.19 billion (2014)
Total assets	฿2,739.36 billion (2014)
Total equity	฿232.14 billion (2014)
Owner	Bank of Thailand
Number of employees	23,014 (31 Dec 2014)
Website	www.ktb.co.th

Krung Thai (or Krungthai) Bank Public Company Limited (KTB) (Thai: ธนาคารกรุงไทย) is a state-owned bank under license issued by the Ministry of Finance. KTB's Swift code is KRTHTHBK.

History

The bank came into being on 14 March 1966 following the merger of two government-owned banks, Kaset Bank and Monton Bank. The merged banks were then named "Krungthai Bank Limited", bearing its logo as an image of the Vayupaksa bird, which is also used by the Ministry of Finance. KTC's head office was originally located on Yawaraj Road.

On 2 August 1989, Krungthai Bank was the first state enterprise to list its shares on the Stock Exchange of Thailand (SET). Its major shareholder is the Ministry of Finance through a shareholding of 6,184 billion shares by the Financial Institutions Development Fund (FIDF), accounting for 55.31 percent of total shares.

In addition to commercial banking activities, Krungthai Bank has served as a government channel for financial services in support of governmental initiatives. It does this by lending to businesses of certain types, such as One Tambon One Product (OTOP) loans, ICT computer loans, and educational loans. Moreover, the bank is used by most government agencies for disbursements. For example, the revenue department issues tax refunds via Krungthai cheque and it handles disbursement of government funds such as pension payments.

During Thailand's economic crisis, the bank supported the government policy of stimulating the national economy by providing the "Thai Khem Kheng Stimulus Package 2012" to boost liquidity.

Subsidiaries

Credit-related businesses

• KTB Leasing Company Limited (เคทีบี ลิซซิ่ง)
• Krungthai card Public Company Limited (KTC)
• Krungthai IBJ Leasing Company Limited

Capital market and financial advisors

• KT ZMICO Securities Company Limited
• Krungthai Asset Management Public Company Limited (KTAM)
• KTB Advisory Company Limited (KTBA)

Insurance

• Krungthai –AXA Life insurance Company Limited
• Krungthai Panich Insurance Company Limited (KPI)

Support services

• Krungthai Computer Services Company Limited (KCS)
• Krungthai General Services Company Limited (KGS)
• Krungthai Legal Services Company Limited (KLS)

Krungthai Bank's status of founder or shareholder of its subsidiaries companies is considered as state enterprise business in general, but in the form of subsidiaries of a state enterprise.

Businesses absorbed by Krungthai Bank

• Sayam Bank Company Limited, formerly named was Asia Trust Bank Limited, founded in 1965 with its name changed in 1984. It transferred the business on 17 August 1987, certain part of which became Thippayasin Co. Ltd. to oversee debtors of Sayam Bank Limited.
• Bangkok Bank of Commerce Public Company Limited (BBC) ceased operations in 1998. Krungthai Bank accepted the transfer of quality assets, liabilities, and budgets from BBC.
• First Bangkok City Bank Public Company Limited (FBCB) transferred its business to KTB on 2 November 1998.

Krungthai Shariah Bank

• Krungthai Bank's financial service under Sharia law, also known as Krungthai Shariah Bank, provided financial services in accordance with Islamic law. It was transferred to the Islamic Bank of Thailand on 9 November 2005.