Out of 35 banks in Thailand, here is a list of 10 of the most well-known and largest in terms of assets. So if you’re visiting Thailand, and need to make some money transaction, you know where to go.
1. Bangkok Bank
Bangkok Bank is the largest bank in Thailand in terms of assets, with a total of US $78 billion. The bank consists of 1,238 branches locally, 9,211 ATM machines, and has 26 international branches in 13 nations, making them the top Thai bank with the largest overseas branch network.
Founded on October 8, 1999, the bank is a publicly listed company and among the top 5 companies in terms of size in the Stock Exchange of Thailand.
2. Kasikorn Bank
Formerly known as the Thai Farmers Bank, its total assets amount to US$ 70.8 billion. Established on June 8, 1945, the bank offers consumer banking, commercial banking, and corporate banking services among others.
Kasikorn is the 4th largest commercial bank in the country in terms of total assets, loans, and deposits. They were also the first bank in the country to offer credit card services back in 1973. In 2011, the bank was the first in the world to offer a secured system of payment via the use of mobile phones. They were also the first in the country to become an escrow agent for house buyers and sellers.
Today, there are 1,054 Kasikorn branches in Thailand, 9,460 ATM machines, and 5 international branches.
3. Siam Commercial Bank (SCB)
Known as Thailand’s first domestic bank, the Siam Commercial Bank was established unofficially in 1904, and officially in 1907. A universal banking group, they were the first to introduce ATM machines in the country in 1983.
Its industries include banking, insurance, real estate, and leasing, and has a total asset of US $82.1 billion.
4. Krungthai Bank
The Krungthai Bank has a total asset of US $83.4 billion, and 56% of the company is owned by the Thai government. Established on March 14, 1966, the bank was formed following a merger of two banks that were operated by the government.
On August 2, 1989, Krungthai was the first state enterprise to enter the Stock Exchange of Thailand. Its services include commercial banking and serves as a government channel for financial services.
5. TMB Bank
TMB Bank is 30% owned by ING, 26% owned by the Thai Ministry of Finance, 7% owned by the DBS, and 2% by the Thai military. Its total assets is US$ 24.6 billion.
The bank is a brainchild of Field Marshal Sarit Tanarat, who wanted to establish a commercial bank to provide financial services for military personnel exclusively. In 1973, it became a full commercial bank open to the general public.
On April of 2015, TMB’s CEO was awarded “Best CEO in Asia Pacific 2015” at the Asian Banker Leadership Achievement Award. The bank was also awarded “Best Managed Bank in Asia Pacific.
6. Bank of Ayudhya
Also known as Krungsri, the bank’s total assets is US $35.2 billion. It has been operating as a commercial bank for more than 60 years and is considered to be the 5th largest bank in the country in terms of loans, deposits, and assets.
Founded in 1945, it has 657 domestic branches, 3 overseas branches, and 5,311 ATM machines in the country. Its industries include banking, investment, consumer finance, asset management, and other financial services.
7. Thanachart Bank
Scotiabank of Canada owns 49% of Thanachart Bank, and is merged with the Siam City Bank. Their total assets is US $31.2 billion.
Considered to be the 6th largest bank in the country in terms of assets, it currently serves 4 million customers in its 600 domestic branches.
Thanachart was formerly known as Ekachart Finance Public Company Limited, which was originally a finance company. The bank is also known as the country’s leading automobile lender.
8. Kiatnakin Bank
Founded in 2005, Kiatnakin is a full-service bank with a total asset of US $18.1 billion. It currently has 52 branches nationwide, and serves 3 business segments, which are: capital market business, commercial banking, and debt restructuring segments.
Listed in the Stock Exchange of Thailand, the bank also offers depository services.
9. CIMB Bank
Previously known as Bank Thai, CIMB Bank has a total asset of US $8.2 billion. It is a subsidiary of the CIMB Group, which is Malaysia’s 2nd largest financial services provider.
Thailand’s 10th largest bank in terms of assets, they offer comprehensive banking solutions for both consumers and businesses in the country. Among these services are commercial banking, consumer banking, investment banking, Islamic banking, and insurance products.
10. Standard Chartered Thailand
A subsidiary of Standard Chartered Bank, its total assets is US $6.1 billion. A banking and financial services company, the company has been in Thailand since 1894.
In 1999, Standard Chartered acquired 75% of the shares of the Nakornthon Bank, which had 67 domestic branches nationwide.