Krung Thai Bank

Krung Thai Bank
Public
Traded as SET: KTB
Industry Banking
Founded 14 March 1966 (1966-03-14) [1]:221
Headquarters 35 Sukhumvit Road, Khlong Toei Nuea, Wattana, Bangkok, Thailand [2]
Area served
 Thailand
Key people
 Mr. Areepong Bhoocha-oon, Chairman
Mr Vorapak Tanyawong, President[3]:5
Revenue Increase 160,758.35 million baht (2015)
Decrease 28,493.77 million baht (2015)
Total assets Increase 2,815,329.65 million baht (2015)
Total equity Increase 245,882.75 million baht (2015)
Owner Bank of Thailand
Number of employees
 23,014 (31 Dec 2014)[3]:137
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.[4] 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. KTB'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).[5] 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.

Krung Thai finished its fiscal year 2015 (31 December 2015) with assets of 2,815,329.65 million baht, revenue of 160,758.35 million baht, a net profit of 28,493.77 million baht, and total equity of 245,882.75 million baht.[6]

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]

Subsidiaries

Credit-related businesses

Capital market and financial advisors

Insurance

Support services

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

Krungthai Shariah Bank

References

  1. ↑ Krung Thai Bank (2011). 2010 Annual Report (PDF). Retrieved 17 November 2011.
  2. ↑ Krung Thai Bank. "Contact us". Retrieved 17 November 2011.
  3. 1 2 Krungthai Bank Annual Report 2014 (PDF). Bangkok: Krungthai Bank. 2015. Retrieved 29 December 2015.
  4. ↑ "About KTB: Roots of Stability". Krungthai Bank. Retrieved 29 December 2015.
  5. ↑ Stock Exchange of Thailand. "Company Summary". Retrieved 17 November 2011.
  6. ↑ Companies/Securities in Focus; KTB: KRUNG THAI BANK PUBLIC COMPANY LIMITED Stock Exchange of Thailand
  7. ↑ "Global Finance Names The World's Best Trade Finance Providers 2016". Global Finance. 2016-01-20. Retrieved 8 May 2016.
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