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 A ministry of finance is a part of the government in most countries that is responsible for matters related to the finance. Lists of current ministries of finance Named "Ministry" * Ministry of Finance (Afghanistan) * Ministry of Finance and Eco ...

. 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 city, capital and List of cities and towns in Cambodia, most populous city of Cambodia. It has been the national capital since the French protectorate of Cambodia and has grown to become ...

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 Cambodia (; also Kampuchea ; km, កម្ពុជា, UNGEGN: ), officially the Kingdom of Cambodia, is a country located in the southern portion of the Indochinese Peninsula in Southeast Asia, spanning an area of , bordered by Thailand ...

Vientiane Vientiane ( , ; lo, ວຽງຈັນ, ''Viangchan'', ) is the capital and largest city of Laos. Vientiane is divided administratively into 9 cities with a total area of only approx. 3,920 square kilometres and is located on the banks of ...

Laos Laos (, ''Lāo'' )), officially the Lao People's Democratic Republic ( Lao: ສາທາລະນະລັດ ປະຊາທິປະໄຕ ປະຊາຊົນລາວ, French: République démocratique populaire lao), is a socialist ...

, and

Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second-m ...

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

. The bank also has wholesale banking branches in Kunming,

Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world' ...

and

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borderin ...

References

{{authority control 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