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Siam Commercial Bank

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Siam Commercial Bank (Thai: ธนาคารไทยพาณิชย์; RTGS: Thanakhan Thai Phanit), officially the Siam Commercial Bank Public Company Limited, is the first Thai bank. It was founded on 30 January 1907 by the appointment of H.M. King Chulalongkorn (Rama V).

The Siam Commercial Bank
ธนาคารไทยพาณิชย์
Company typePublic
SET: SCB
FoundedOctober 4, 1904; 120 years ago (1904-10-04) (unofficial)
January 30, 1907; 117 years ago (1907-01-30) (official)
Founder
Headquarters
SCB Park Plaza, Chatuchak, Bangkok
,
Thailand
Key people
Kris Chantanotoke (Director & Chief Executive Officer)
RevenueIncrease 168,620 million baht (2018) [1]
Decrease 40,068 million baht (2018)[1]
Total assetsIncrease 3,187,340 million baht (2018)[1]
Total equityIncrease 380,027 million baht (2018)[1]
Number of employees
27,000
ParentSCB X Public Company Limited
www.SCBX.com
SubsidiariesSCB Asset Management
SCB Protect
SCB Julius Baer
SCB Plus
Websitewww.scb.co.th

History

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SCB was founded as the Book Club on 4 October 1904 by Prince Jayanta Mongkol, a brother of King Chulalongkorn (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 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 "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 symbol as a royal warrant by King Vajiravudh (Rama VI).[2]

As of May 2024, Siam Commercial Bank has 643 domestic branches and over 10,000 ATMs around the country.

Milestones

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  • 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 machines[3] and established the Thai Bank Museum.
  • 1993: SCB registered as a public company and was henceforth known as "The Siam Commercial Bank Public Company Limited".
  • 1996: SCB moved its headquarters to SCB Park Plaza Ratchayothin.
  • 2016: SCB introduced SCB E PASSBOOK, which is a bank account without a passbook. Customers are required to give their email address to the bank in order to receive a bank statement every month.
  • 2017: SCB introduced a new version of mobile application called SCB Easy, including the ardless ATM feature for the first time in Thailand.
  • 2018: SCB announced that any transactions done via mobile application will no longer have transaction fees.

Subsidiaries

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  • SCB Asset Management (SCBAM)
  • SCB Protect
  • SCB Julius Baer
  • SCB Plus
  • SCB 10X
  • SCB TechX
  • CardX
  • InnovestX

Management

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  • Dr. Vichit Suraphongchai, Chairman of the Board and Chairman of the Corporate Social Responsibility Committee[4]
  • Arthid Nanthawithaya, Director, Member of the Executive Committee and Member of the Technology Committee[4]
  • Kris Chantanotoke, Director and Chief Executive Officer[5]

References

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  1. ^ a b c d "SCB: THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED". The Stock Exchange of Thailand. Retrieved 21 March 2019.
  2. ^ "1904-1932 Laying the Foundation of Thai Banking". Siam Commercial Bank. 2010. Archived from the original on 26 December 2010. Retrieved 2 January 2011.
  3. ^ "A chairman's view on the Thai economy". National Science and Technology Development Agency. n.d. Retrieved 29 March 2018.
  4. ^ a b "Independent Directors". The Siam Commercial Bank Public Company, Ltd. Retrieved 30 January 2023.
  5. ^ "Senior Executive Officers". The Siam Commercial Bank Public Company, Ltd. Retrieved 30 January 2023.
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