Siam Commercial Bank ( th, ธนาคารไทยพาณิชย์; ) is a Thai bank that was founded on 30 January 1907.

History

SCB was founded as the "Book Club" on 4 October 1904 by Prince Jayanta Mongkol, a brother of King

Chulalongkorn Chulalongkorn ( th, จุฬาลงกรณ์, 20 September 1853 – 23 October 1910) was the fifth monarch of Siam under the House of Chakri, titled Rama V. He was known to the Siamese of his time as ''Phra Phuttha Chao Luang'' (พร ...

(Rama V), who was convinced that the time was ripe for Siam to have its own banking system to help foster the country's economic development, rather than rely on foreign banks operating branches in the country. The name "Book Club" was chosen in an effort to keep the project

sub rosa ''Sub rosa'' (New Latin for "under the rose") denotes secrecy or confidentiality. The rose has an ancient history as a symbol of secrecy. History In Hellenistic and later Roman mythology, roses were associated with secrecy because Cupid ga ...

as it was something of an experiment. After the success of the "Book Club", King Chulalongkorn granted royal approval for it to officially operate as a commercial bank under the name "The Siam Commercial Bank" on 30 January 1907. SCB opened its headquarters in Bangkok's Talat Noi District in 1910. In 1911, it was granted approval to display the royal

Garuda Garuda ( Sanskrit: ; Pāli: ; Vedic Sanskrit: गरुळ Garuḷa) is a Hindu demigod and divine creature mentioned in the Hindu, Buddhist and Jain faiths. He is primarily depicted as the mount (''vahana'') of the Hindu god Vishnu. Garu ...

symbol as a royal warrant by King

Vajiravudh Vajiravudh ( th, วชิราวุธ, , 1 January 188126 November 1925) was the sixth monarch of Siam under the Chakri dynasty as Rama VI. He ruled from 23 October 1910 until his death in 1925. King Vajiravudh is best known for his efforts ...

(Rama VI).

Milestones

*1939: SCB changed its name to "Siam Commercial Bank" in English, and "Thanakarn Thai Panich" in Thai. *1983: SCB introduced Thailand's first

automated teller machine An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, fund ...

s. and established the

Thai Bank Museum The Thai Bank Museum ( th, พิพิธภัณฑ์ธนาคารไทย) was established by Siam Commercial Bank with the objective of gathering and collecting documents and tools that demonstrate the evolution and development of the ...

*1993: SCB registered as a public company and was henceforth known as "The Siam Commercial Bank Public Company Limited".

Management

*Mr Anand Panyarachun, Chairman of the Board *Dr Vichit Suraphongchai, Chairman of the Executive Committee *Mr Arthid Nanthawithaya, Chief Executive Officer

References

{{Authority control Thai Royal Warrant holders Banks established in 1904 Companies listed on the Stock Exchange of Thailand Companies based in Bangkok 1904 establishments in Siam Thai brands Vajiralongkorn