History
The bank was incorporated on March 14, 1966 through the merger of Agriculture Bank Limited and Mondhon Bank Limited, which the government was their major shareholder. The merged banks was then named ‘Krungthai Bank Limited’, bearing its logo as an image of Vayupaksa Bird that is also the Ministry of Finance’s with the head office on Yawaraj Road in the early stage..
Krungthai Bank thus became a large bank after the merger and conducted banking business with good performance and sound financial standing as well as wider range of services through time. As a result, the existing Head office was not spacious enough for the expanding operation in 1982, the Bank relocates its Head Office to No.35 Sukhumvit Road, Watthana District, Bangkok and this headquarters has been used to date.
The bank has succeeded well in business operation and enjoyed stable and rapid growth while making improvement and broadening its organization to better respond to the customer needs. Back in 1988, Krungthai bank was the only commercial bank having branch network and ATMs in all provinces nationwide.
Furthermore, Krungthai Bank was the first state enterprise that listed its share on the Stock Exchange of Thailand on August 2, 1989. Its major shareholder is currently the Ministry of Finance through shareholding of 6,184 billion shares by the Financial Institutions Development Fund (FIDF) accounting for 55.31% of the total shares.
Apart from conducting commercial banking business like other commercial banks in general, Krungthai Bank has served as the government’s channel to render financial services in response to the government policies through lending to businesses of certain type, such as, One-Tambon-One-Product (OTOP) loan, ICT Computer loan, Education loan. Moreover, the Bank is the top choice for most government agencies, for example, the Revenue Department, refunding tax by Krungthai Cheque, and disbursement of government budget including payment of pension to pensioners.
During Thailand economic crisis, the Bank has supported the government policy in stimulating national economy by providing the “Thai Khem Kheng stimulus package 2012” to boost Thai entrepreneurs’ liquidity.
The Bank’s office hours are different from other commercial banks, which are adjusted to suit the economic environment and commercial operations. However, Krungthai Bank’s office hours are more in line with working hours of state enterprises and government agencies. Currently, the Bank is open until 4.30 pm. while other banks close before that time.
Read more about this topic: Krung Thai Bank
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