Top Banks in Thailand

Overview of Thailand's leading financial institutions

Overview of Banks in Thailand

Banks in Thailand are governed by the country’s central bank, Bank of Thailand, which was established in 1942. Aside from supervising local financial institutions and providing banking facilities, the independent body prints and issues banknotes and security documents, promotes monetary stability, and sets monetary policies.

 

Banks in Thailand

 

For the next 12-18 months, Moody’s Investors Service gives a stable outlook to banks in Thailand. The ratings agency’s outlook can be attributed to the improvement of the banks’ operating environment, as well as the strong capitalization and loan loss reserve coverage. However, the banking sector will be affected by weak private sector investment, political uncertainty and high level of household leverage.

For anyone considering a banking career in Thailand, this list is a helpful guide on where to start. To learn more, see our list of financial institutions.

 

The top banks in Thailand include:

 

Bangkok Bank

Formed in 1999, Bangkok Bank is the largest bank in Thailand in terms of assets. It is also the country’s top bank in terms of the number of overseas branches, with 26 international offices in 13 countries. Locally, it operates through 1,238 branches. Bangkok Bank is also a publicly listed company and is one of the top five largest companies in the Stock Exchange of Thailand.

 

Kasikorn Bank

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.

The group was the first bank in Thailand to provide credit card services in 1973. It was also the first bank in the world to utilize mobile phones as a secure payment system. It operates through 1,054 branches locally and five offices in other countries.

 

Siam Commercial Bank (SCB)

Founded in 1907 under Royal Charter, Siam Commercial Bank is the first domestic bank in Thailand. In 1976, it listed on the Stock Exchange of Thailand. It became the first bank to introduce ATMs in the country in 1983.

Headquartered in Bangkok, the universal bank offers a range of banking products and services across industries such as insurance, real estate, and leasing.

 

Krung Thai Bank

State-owned bank Krung Thai Bank provides commercial banking services in Thailand. It is also the government channel for financial services needed in its initiatives. Founded in 1966, Krung Thai Bank was the result of a merger of two government-owned banks, Kaset Bank and Monton Bank.

In 1989, Krung Thai Bank was the first state enterprise to be listed on the Stock Exchange of Thailand, with the Ministry of Finance as its major shareholder. As of 2017, it operated a network of 1,210 branches in the country, making it the Thai bank with the largest number of domestic branches.

 

TMB Bank

In 1957, Field Marshal Sarit Tanarat established TMB Bank with the aim of providing financial solutions to for military personnel. In 1973, it turned into a commercial bank, offering banking products and services to the general public. In 2015, TMB Bank was recognized as the Best Managed Bank in the Asia Pacific, the first Thai bank to receive the award.

 

Bank of Ayudhya

Bank of Ayudhya, also called Krungsri, is one of the largest banks in Thailand in terms of assets, loans, and deposits. Established in 1945, it offers a range of banking services including investment, asset management, and consumer finance through its network of 657 local branches, three international offices, and 5,311 ATMs in Thailand.

In 2013, The Bank of Tokyo-Mitsubishi UFJ became the majority shareholder in Krungsri, replacing GE Capital.

 

Thanachart Bank

Formerly called Ekachart Finance Public Company Limited, Thanachart Bank was established as a finance company, but it is currently known as the leading automobile lender in Thailand. With Thanachart Capital PCL (TCAP) as its parent, it received its restricted banking license and started its operations in the country in 2002. It obtained its full commercial banking license in 2004.

Almost half of the bank is owned by Scotiabank of Canada. Headquartered in Bangkok, it provides banking services to four million customers through its network of 600 local branches.

 

Kiatnakin Bank

Full-service bank Kiatnakin Bank offers banking and depository services to three business segments – capital market business, commercial banking and debt restructuring. Established in 1971 as a financial services company, the bank received its commercial banking license in 2005.

In 2012, the bank merged with Phatra Capital Public Company Limited to become Kiatnakin Phatra Financial Group. It currently operates through 66 branches across the country.

 

CIMB Bank

Formerly called Bank Thai, CIMB Bank operates as a subsidiary of CIMB Group. Founded in 1998, it is one of the largest banks in Thailand in terms of assets. The bank was created after the consolidation of 14 financial institutions in the country after the 1997 Asian financial crisis.

CIMB Bank serves individuals and businesses with a wide range of banking products and services such as commercial and consumer banking, investment, insurance and Islamic banking.

 

Standard Chartered Thailand

Standard Chartered Thailand is a subsidiary of international financial group Standard Chartered. The bank began operating in the country in 1894. It offers consumer and wholesale banking products and services. In 2005, Standard Chartered merged its Thai branch with Nakornthon Bank and renamed the new entity Standard Chartered Bank (Thai) PCL.

 

Careers in investment banking

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Additional resources

This has been a guide to the top banks in Thailand. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources:

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