Krungthai Bank ( th, ธนาคารกรุงไทย; ), officially Krungthai Bank Public Company Limited, and sometimes known by its initials KTB, 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. The merged banks were then named "Krungthai Bank Limited", bearing its logo as an image of the Vayupaksa bird — a mythical creature that feeds on winds — which is also used by the Ministry of Finance.
On 2 August 1989, Krungthai Bank was the first state enterprise to list its shares on the
Stock Exchange of Thailand
The Stock Exchange of Thailand ( th, ตลาดหลักทรัพย์แห่งประเทศไทย), or SET, is the only stock exchange in Thailand. Founded on 30 April 1975, it is ASEAN’s 2nd largest after Singapore and the ...
(SET).
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 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.
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.
, Krungthai has the largest number of domestic branches of any Thai bank, 1,210.
In January 2018,
Pao Tang was set its first launch and this service was made by Krungthai NEXT from Krungthai Bank. Pao Tang is a mobile payment and digital wallet. It lets the users make payments by using compatible phones and other devices. Moreover, it is an online platform that can help Thai receive money in all projects from the Thai Government.
Overseas branches
The bank has branches in
Phnom Penh
Phnom Penh (; km, ភ្នំពេញ, ) is the capital and most populous city of Cambodia. It has been the national capital since the French protectorate of Cambodia and has grown to become the nation's primate city and its economic, indus ...
and
Siem Reap
Siem Reap ( km, សៀមរាប, ) is the second-largest city of Cambodia, as well as the capital and largest city of Siem Reap Province in northwestern Cambodia.
Siem Reap has French colonial and Chinese-style architecture in the Old F ...
(sub-branch) in
Cambodia,
Vientiane in
Laos
Laos (, ''Lāo'' )), officially the Lao People's Democratic Republic ( Lao: ສາທາລະນະລັດ ປະຊາທິປະໄຕ ປະຊາຊົນລາວ, French: République démocratique populaire lao), is a socialist ...
, and
Mumbai in
India.
The bank also has wholesale banking branches in
Kunming
Kunming (; ), also known as Yunnan-Fu, is the capital and largest city of Yunnan province, China. It is the political, economic, communications and cultural centre of the province as well as the seat of the provincial government. The headquar ...
,
Los Angeles and
Singapore.
References
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Banks of Thailand
Companies based in Bangkok
Government-owned companies of Thailand
Banks established in 1966
Companies listed on the Stock Exchange of Thailand
1966 establishments in Thailand