Krung Thai Bank

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Krung Thai Bank
Public
Traded asSETKTB
IndustryBanking
Founded14 March 1966; 53 years ago (1966-03-14) [1]
Headquarters,
Area served
Thailand, Cambodia, Laos, India[3]
Key people
Mr. Areepong Bhoocha-oon, Chairman
Mr Vorapak Tanyawong, President[4]
RevenueDecrease 117,221.1 million baht (2018)[3]
Increase 31,089.3 million baht (2018)[3]
Total assetsDecrease 2,739,203.2 million baht (2018)[3]
Total equityIncrease 314,1413.1 million baht (2018)[3]
Number of employees
29,226 (2018)[3]
Websitewww.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[edit]

The bank came into being on 14 March 1966 following the merger of two government-owned banks, Kaset Bank and Monton Bank.[5] 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.

On 2 August 1989, Krungthai Bank was the first state enterprise to list its shares on the Stock Exchange of Thailand (SET).[6] 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 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.[citation needed]

In 2016, Krungthai was selected as "Best Trade Finance Provider in Thailand 2016" by Global Finance magazine based on input from industry analysts, corporate executives and technology experts. Criteria for choosing the winners included: transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.[7]

As of February 2017, Krung Thai has the largest number of domestic branches of any Thai bank, 1,210.[8]

Overseas branches[edit]

The bank has branches in Phnom Penh and Siem Reap (sub-branch) in Cambodia, Vientiane, Laos, and Mumbai, India.[3] The bank also has wholesale banking branches in Kunming, Los Angeles and Singapore.[3]

References[edit]

  1. ^ Krung Thai Bank (2011). 2010 Annual Report (PDF). Retrieved 17 November 2011.
  2. ^ Krung Thai Bank. "Contact us". Archived from the original on 26 November 2011. Retrieved 17 November 2011. Cite uses deprecated parameter |deadurl= (help)
  3. ^ a b c d e f g h "Annual Report 2018" (PDF). Krung Thai Bank. Retrieved 13 September 2019.
  4. ^ Krungthai Bank Annual Report 2014 (PDF). Bangkok: Krungthai Bank. 2015. Retrieved 29 December 2015.
  5. ^ "About KTB: Roots of Stability". Krungthai Bank. Retrieved 29 December 2015.
  6. ^ Stock Exchange of Thailand. "Company Summary". Retrieved 17 November 2011.
  7. ^ "Global Finance Names The World's Best Trade Finance Providers 2016". Global Finance. 2016-01-20. Retrieved 8 May 2016.
  8. ^ "FI_CB_060_S2 Number of All Branches of Commercial Banks". Bank of Thailand (BOT). Retrieved 24 March 2017.