The Bank for Agriculture and Agricultural Cooperatives (BAAC) ( th, ธนาคารเพื่อการเกษตรและสหกรณ์การเกษตร (ธ.ก.ส.)) was established in 1966. The bank is 99.79 percent owned by the
Thai Ministry of Finance
The Ministry of Finance ( Abrv: MOF; th, กระทรวงการคลัง, ) is a cabinet ministry in the Government of Thailand.
Considered to be one of the country's most important ministries, the Ministry of Finance has many respo ...
.
BAAC's
Swift code
ISO 9362 is an international standard for Business Identifier Codes (BIC), a unique identifier for business institutions, approved by the International Organization for Standardization (ISO). BIC is also known as SWIFT-BIC, SWIFT ID, or SWIFT code, ...
is BAABTHBK.
BAAC's
fiscal year
A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many ...
runs from 1 April to 31 March.
History
BAAC was established on 1 November 1966 as a government-owned bank to provide affordable credit to agricultural producers, either directly or through
agricultural cooperatives and farmers' associations. BAAC assumed the functions of the Bank for Cooperatives (which had been established in 1947). In March 1993, BAAC was also authorized to lend to farmers for agriculturally-related activities, e.g., cottage industries, and more recently, for non-agricultural activities.
Performance
For the fiscal year 2014 ending 31 March 2015, BAAC reported total assets of 1,431,040 million baht and a net profit of 10,368 million baht.
The bank had 1,327 branches, 1,074 service bureaus, 2,001 ATMs, and 18,372 employees.
References
External links
BAAC Savings Mobilization, GTZ-CGAP Working Group on Savings Mobilisation, January 2010
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Banks of Thailand
Companies based in Bangkok
State enterprises of Thailand
Banks established in 1966