Question 1

What is Krungthai Bank?

Accepted Answer

Krungthai Bank is a state-owned commercial bank and one of Thailand's largest financial institutions. Operating as a public company limited, it serves millions of customers across personal, commercial, and institutional banking segments. The bank is majority-owned by the Thai Ministry of Finance through the Financial Institutions Development Fund, which holds approximately 55.31 percent of total shares.

As of May 2024, Krungthai Bank operates 924 domestic branches throughout Thailand, the largest branch network of any commercial bank in the country. The bank also maintains 7,200 ATM machines nationwide.

Question 2

When was Krungthai Bank founded?

Accepted Answer

Krungthai Bank was established on March 14, 1966, following the merger of two government-owned banks: Kaset Bank and Monton Bank. The merged entity was named "Krungthai Bank Limited" and bore the logo of the Vayupaksa bird, a mythical creature that feeds on winds, which is also used by the Ministry of Finance.

The bank's first branch was located on Yaowarat Road, which was Bangkok's financial center at the time. On August 2, 1989, Krungthai Bank became the first state enterprise to list its shares on the Stock Exchange of Thailand. It was later converted to a public company limited on March 24, 1994, with the official name "Krungthai Bank Public Company Limited."

Question 3

Where is Krungthai Bank headquartered?

Accepted Answer

Krungthai Bank is headquartered in Bangkok, Thailand. The bank's head office is located at 35 Sukhumvit Road, Khlong Toei Nuea, Watthana District, Bangkok.

The institution maintains significant operational presence throughout the greater Bangkok metropolitan area, with numerous branches and service centers serving the capital city and surrounding provinces.

Question 4

Where does Krungthai Bank operate?

Accepted Answer

Krungthai Bank operates throughout Thailand with comprehensive nationwide coverage. As of May 2024, the bank maintains 924 branches across all provinces in Thailand, making it the bank with the largest domestic branch network in the country.

The bank achieved full provincial coverage in 1988 and has maintained its position as the most geographically accessible bank in Thailand. Its network extends from major urban centers like Bangkok, Chiang Mai, and Phuket to smaller provincial cities and rural communities throughout the country.

Question 5

What services does Krungthai Bank offer?

Accepted Answer

Krungthai Bank offers a comprehensive range of banking services including retail banking, commercial banking, corporate banking, and investment services. Personal banking services include savings and current accounts, loans, mortgages, credit cards, and wealth management.

For businesses, the bank provides commercial lending, trade finance, cash management, and treasury services. The institution is recognized as a leader in trade finance, having been selected as "Best Trade Finance Provider in Thailand 2016" by Global Finance magazine.

Digital services are a major focus, with the bank launching Krungthai NEXT mobile banking app and PaoTang digital wallet in January 2018. PaoTang is an open application available to all Thai citizens for mobile payments and serves as a platform for receiving government disbursements. The bank also serves as a channel for various government initiatives, including One Tambon One Product (OTOP) loans, ICT computer loans, educational loans, pension payments, and tax refund disbursements.

Question 6

What makes Krungthai Bank unique?

Accepted Answer

Krungthai Bank stands out as Thailand's most accessible bank with the largest branch network of any commercial bank in the country. Its state ownership allows it to serve as a key channel for government financial initiatives and social programs, distinguishing it from purely private sector competitors.

The bank played a crucial role during the 1997 Asian financial crisis, participating in the "4th April Campaign" initiated by the Bank of Thailand and absorbing the assets and debts of the troubled Siam Bank, which established Krungthai as the second-largest bank by assets in Thailand.

In 2003, Krungthai became the first commercial bank able to pay dividends to shareholders following the 1997 financial crisis. The institution's combination of commercial banking excellence with social responsibility is exemplified by its contribution of 100 million Baht to tsunami relief efforts in 2004 and its continued support for financial inclusion initiatives throughout Thailand.

Question 7

What type of financial institution is Krungthai Bank?

Accepted Answer

Krungthai Bank is a Universal Bank and State-Owned Enterprise operating under a commercial banking license issued by the Ministry of Finance of Thailand. It is registered as a public company limited and listed on the Stock Exchange of Thailand, where it is included in the SET50 index.

As a universal bank, Krungthai provides the full spectrum of financial services including retail, commercial, corporate, and investment banking. Its state-owned status gives it a unique dual mandate: operating as a competitive commercial bank while also serving as an instrument for government policy implementation and financial inclusion initiatives. The bank operates under Thailand's Banking Act and is supervised by the Bank of Thailand.

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