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Krung
Thai Bank Public Company Limited came into existence on the 14th March
1966 through the merger of "Agricultural Bank Limited" and
"Provincial Bank Limited" with the Ministry of Finance
as its major shareholder. The bank was formed as a state enterprise
under the management of the Ministry of Finance and was named, Krung Thai Bank Limited.
The "Wayupak bird", the official seal of the Ministry of Finance, was therefore adopted as the bank's official logo.
Upon formation, the bank had Bt 4,442.2 million in deposits, Bt 4,582.1 million worth of assets, Bt 105 million
in registered capital, 81 branches and 1,247 personnel.
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The
headquarters were originally located on Yawaraj Road in Bangkok, but because
of increased expansion of operation, the head office was relocated
to 35, Sukhumvit Road on the 26th November 1982, where it remains today.
Also in 1982, the Krung Thai Bank was the first Thai bank to open a foreign branch
in New York, with the aim of expanding it's international business
network in response to customer demands. In March 1987, the
bank was entrusted, by the Government, to administer the "4th of April
Project" with the |
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by some Thai financial institutions. Later the same year, on the 17th August,
the administration of the assets and liabilities of "Sayam
Bank Limited" were transferred to Krung Thai Bank Limited in
accordance with the Ministry of Finance's policies and as a result
of financial problems encountered by "Sayam Bank Limited". As a result,
by 1988, the Krung Thai bank was the only commercial bank with 288 branches
located throughout all the provinces of Thailand. As the economy continued to expand,
the bank remained focussed on opening new branches in unserviced areas , and in June 1988,
became the first commercial bank to have installed ATMs in all 73 provinces, nationwide. |
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On the 26th June 1989, the bank was listed on the Stock Exchange of Thailand,
with shares available for trading from the 2nd August. This was yet another
"first" for the bank; the first of Thailand's state
enterprises to ever be listed on the stock exchange.
On the 24th March 1994, The bank was registered as a public
limited company, under the name (in English) of "Krung Thai Bank Public
Company Limited."
Because of its commitment to providing quality services to its customers
compared to other leading commercial banks in Thailand, the bank was granted
the status of "Group 1 State Enterprise" on the 1st October 1995.
By the end of 1996, Krung Thai Bank PCL's largest shareholders
were from the public sector with the Ministry of Finance
holding 30.80%, the Financial Institutions Development
Fund, 29.97%, and the remainder held by legal entities,
individuals and the Crown Property Bureau at 35.70%, 3.26% and
0.97% respectively.
Currently the bank operates 511 domestic and 12 foreign
branches & representative offices. It pursues key policies,
focusing on valued services to clients, quality credit
extension, efficient budget management, and the care and concern
for the lives of its employees.
Today, Krung Thai Bank PCL. does not just provide
financial assistance to businesses, both large and small,
but also to other state enterprises, whether business oriented or
public utilities. As the government's only commercial bank, Krung Thai Bank
pays the benefits earned from its business transactions to the government in the form
of taxes, and dividends paid to the Ministry of Finance. They also
engage in many aspects of social, educational and religious
life.
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