Siam Commercial Bank

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The Siam Commercial Bank Public Company Limited
Traded asSETSCB
Real estate
FoundedOctober 4, 1904; 115 years ago (1904-10-04) (unofficial)
January 30, 1907; 112 years ago (1907-01-30) (official)
FounderPrince Jayanta Mongkol
King Rama V
RevenueIncrease 168,620 million baht (2018) [1]
Decrease 40,068 million baht (2018)[1]
Total assetsIncrease 3,187,340 million baht (2018)[1]
Total equityIncrease 380,027 million baht (2018)[1]
Number of employees
SubsidiariesSCB Asset Management
SCB Securities
SCB Life Assurance
Cambodia Commercial Bank

Siam Commercial Bank (Thai: ธนาคารไทยพาณิชย์; RTGSThai Phanit) was established on 30 January 1907 by royal charter as the first Thai bank.[2] According to information filed with the Bank of Thailand, SCB was Thailand's largest commercial bank (in total assets), as of 31 December 2018.[3] King Vajiralongkorn is the largest single shareholder, owning 23.35 percent of SCB shares.[3]


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 4 October 1904 by Prince Jayanta Mongkol, 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 on 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 30 January 1907.

SCB opened its headquarters in Bangkok's Talat 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).[4]


  • 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.
  • 1939: SCB changed its name to "Siam Commercial Bank" in English, and "Thanakarn Thai Panich" in Thai.
  • 1971: SCBs head office moved from Talad Noi District to Petchburi Road to support the growth of its operations.
  • 1983: SCB introduced Thailand's first ATMs in 1983.[5] and established the Thai Bank Museum
  • 1993: SCB registered as a public company and was henceforth known as "The Siam Commercial Bank Public Company Limited".
  • 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.
  • 2007: SCB celebrated its 100th anniversary. Princess Maha Chakri Sirindhorn presided over celebrations at SCB headquarters.
  • 2017: SCB became the first sleeve sponsor of English Premier League club Leicester City, which is owned by a Thai businessman close to the Thai royal family.


SCB's total market capitalization as of 31 December 2018 was 453,813 million baht.[3] As of April 2018, SCB had 1,154 branches. It plans to reduce the number of branches to 400 by 2020 as it moves to digital banking. The workforce is to be reduced also, from 27,000 to 15,000.[6] As of 2013 it had 108 foreign exchange kiosks and 9,142 ATMs.[7]


SCB exchange booth. Suvarnabhumi Airport

According to SCB, "The Bank provides a full range of financial services, including corporate and personal lending, retail and wholesale banking, foreign currency operations, international trade financing, cash management, custodial services, credit and charge card services and investment banking services, through its head office and its extensive branch network."[3]

Credit ratings[edit]

SCB's credit worthiness is rated by Fitch Ratings, Moody's, and S&P.[8]


  • Mr Anand Panyarachun, Chairman of the Board[9]
  • Dr Vichit Suraphongchai, Chairman of the Executive Committee[10]
  • Mr Arthid Nanthawithaya, Chief Executive Officer[10]


  1. ^ a b c d "SCB: THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED". The Stock Exchange of Thailand. Retrieved 21 March 2019.
  2. ^ "About Us". The Siam Commercial Bank Public Company, Ltd. Retrieved 21 March 2019.
  3. ^ a b c d "Company information; At a Glance". The Siam Commercial Bank Public Company, Ltd. Retrieved 21 March 2019.
  4. ^ "1904-1932 Laying the Foundation of Thai Banking". Siam Commercial Bank. 2010. Archived from the original on 26 December 2010. Retrieved 2 January 2011.
  5. ^ "A chairman's view on the Thai economy". National Science and Technology Development Agency. n.d. Retrieved 29 March 2018.
  6. ^ Banchongduang, Somruedi (9 April 2018). "SCB to close 200 branches". Bangkok Post. Retrieved 14 April 2018.
  7. ^ "Annual Report 2013". The Siam Commercial Bank Public Company, Ltd. Archived from the original on 26 March 2018. Retrieved 29 March 2018.
  8. ^ "Credit Ratings". The Siam Commercial Bank Public Company, Ltd. Retrieved 21 March 2019.
  9. ^ "Independent Directors". The Siam Commercial Bank Public Company, Ltd. Retrieved 21 March 2019.
  10. ^ a b "Senior Executive Officers". The Siam Commercial Bank Public Company, Ltd. Retrieved 29 March 2018.