Overview of Banks in Thailand
Banks in Thailand are governed by the country’s central bank, the Bank of Thailand, which was established in 1942. This independent entity supervises local financial institutions and provides banking facilities, prints and issues banknotes and security documents, promotes monetary stability, and sets monetary policies.
Moody’s Investors Service gives a stable outlook to banks in Thailand, as of April 2020. The ratings agency’s outlook can be attributed to the country’s strong public and external finances that provide Thailand with significant room to counter shocks, including those currently emanating from the coronavirus.
Thailand’s past record of solid fiscal metrics suggests that fiscal repair is likely after a marked increase in the government’s debt burden in the next few years. In addition, Moody’s expects that Thailand’s large and diverse economy will absorb the current shock to economic growth without a lasting impact on its growth potential.
For anyone considering a banking career in Thailand, this list of top banks in Thailand is a helpful guide on where to start. See our list of financial institutions to learn more.
The Top Banks in Thailand Include:
Bangkok Bank is the largest of the banks in Thailand in terms of assets. It was founded in 1944, and is also the country’s top bank in terms of the number of overseas branches, with 26 international offices in 13 countries. It operates through 1,128 branches.
Bangkok Bank is also a publicly listed company and is one of the top five largest companies traded on the Stock Exchange of Thailand.
Net income: THB 17.18 billion (2020)
Total assets: THB 3.95 trillion (3/2021)
Kasikorn Bank was founded in 1945 as Thai Farmers Bank. It is one of the largest banks in Thailand in terms of total assets, loans, and deposits. It provides a range of products and services, including consumer, commercial, and corporate banking.
Kasikorn was the first of the banks in Thailand to provide credit card services, starting in 1973. It was also the first bank in the world to utilize mobile phones as a secure payment system. It operates through 860 branches locally and six offices in other countries.
Net income: THB 29.49 billion (2020)
Total assets: THB 3.77 trillion (3/2021)
Siam Commercial Bank (SCB)
Siam Commercial Bank, founded in 1906 under a Royal Charter, was the first domestic bank in Thailand. It became listed on the Stock Exchange of Thailand in 1976. It was the first bank to introduce ATMs in the country, in 1983.
SCB is headquartered in Bangkok and offers a range of banking products and services across industries, such as insurance, real estate, and leasing. It also operates through its branches in Singapore, Hong Kong, Laos, Vietnam, China, and the Cayman Islands, as well as through its subsidiaries in Thailand, Singapore, Cambodia, and Myanmar.
Net income: THB 27.22 billion (2020)
Total assets: THB 3.18 trillion (3/2021)
Krung Thai Bank
State-owned Krung Thai Bank began providing commercial banking services in Thailand in 1966. It is also the government channel for financial services needed in its initiatives. Krung Thai Bank was the result of a merger of two government-owned banks, Kaset Bank and Monton Bank.
The bank was the first state enterprise to be listed on the Stock Exchange of Thailand – in 1989, with the Ministry of Finance as its major shareholder. It operates a network of 1,210 branches in the country, making it the Thai bank with the largest number of domestic branches. It employs over 20,000 employees.
Net income: THB 16.73 billion (2020)
Total assets: THB 3.37 trillion (3/2021)
Field Marshal Sarit Tanarat established TMBThanachart Bank in 1957, with the aim of providing financial solutions for military personnel. It became a commercial bank in 1973, offering banking products and services to the general public.
The company was formerly known as TMB Bank Public Company Limited and changed its name to TMBThanachart Bank Public Company Limited in April 2021.
Net income: THB 10.11 billion (2020)
Total assets: THB 1.79 trillion (3/2021)
Bank of Ayudhya
Bank of Ayudhya, also called Krungsri, was established in 1945 and is one of the largest banks in Thailand in terms of assets and deposits. It offers a range of banking services, including investment, asset management, and consumer finance through its network of 670 local branches, three international offices, and 6,500 ATMs in Thailand.
With 33,000 employees, Bank of Ayudhya Public Company Limited operates as a subsidiary of MUFG Bank, Ltd.
Net income: THB 23.04 billion (2020)
Total assets: THB 2.69 trillion (3/2021)
Thanachart Bank, formerly called Ekachart Finance Public Company Limited, was established as a finance company. It is currently known as the leading automobile lender in Thailand.
As of December 3, 2019, its parent company is TMBThanachart Bank Public and the full merger will be implemented in April 2021. Thanachart received its restricted banking license and started operations in the country in 2002. The bank obtained its full commercial banking license in 2004.
Headquartered in Bangkok, it provides banking services to four million customers through its network of 617 local branches and 2,100 ATMs.
Net income: THB 10.95 billion (2020)
Total assets: THB 815.3 billion (2020)
Kiatnakin Phatra Bank
Full-service Kiatnakin Phatra Bank (name change in August 2020) offers banking and depository services to three business segments – capital markets business, commercial banking, and debt restructuring. Kiatnakin was established in 1971 as a financial services company.
The bank received its commercial banking license in 2005. It merged with Phatra Capital Public Company Limited in 2012 to become Kiatnakin Phatra Financial Group. It currently operates through 64 branches across the country.
Net income: THB 5.12 billion (2020)
Total assets: THB 393.44 billion (3/2021)
CIMB Thai Bank
CIMB Thai Bank, formerly Bank Thai, operates as a subsidiary of CIMB Group. The bank was created in 1998 after the consolidation of 14 financial institutions in the country, following the 1997 Asian financial crisis. It is headquartered in Bangkok, Thailand.
The bank serves individuals and businesses with a wide range of banking products and services such as commercial and consumer banking, investments, insurance, and Islamic banking.
Net income: THB 1.29 billion (2020)
Total assets: THB 404.35 billion (3/2021)
Standard Chartered Thailand
Standard Chartered Thailand is a subsidiary of the international financial group, Standard Chartered. The bank began operating in the country in 1894. It offers consumer and wholesale banking products and services. Standard Chartered merged its Thai branch with Nakornthon Bank in 2005 and renamed the new entity, Standard Chartered Bank (Thai) PCL.
Net income: THB 1.16 billion (2020)
Total assets: THB 167.17 billion (2020)
Careers in Investment Banking
To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map: For banking careers, you will have a significant edge over the competition with our financial modeling courses.
This has been CFI’s guide to the top banks in Thailand. Please also see these additional resources: