Siam Commercial Bank

Siam Commercial Bank (Thai: ธนาคารไทยพาณิชย์; RTGS: Thanakhan Thai Phanit) is a Thai bank that was founded on 30 January 1907. King Vajiralongkorn is the largest single shareholder, owning 23.35 percent of SCB shares.[2]

The Siam Commercial Bank
ธนาคารไทยพาณิชย์
TypePublic
SET: SCB
FoundedOctober 4, 1904 (1904-10-04) (unofficial)
January 30, 1907 (1907-01-30) (official)
FounderPrince Jayanta Mongkol
King Rama V
Headquarters
SCB Park Plaza, Chatuchak, Bangkok
,
Thailand
Revenue 168,620 million baht (2018) [1]
40,068 million baht (2018)[1]
Total assets 3,187,340 million baht (2018)[1]
Total equity 380,027 million baht (2018)[1]
Number of employees
27,000
SubsidiariesSCB Asset Management
SCB Securities
SCB Life Assurance
Cambodia Commercial Bank
WebsiteOfficial website

History

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 "The 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).[3]

Milestones
  • 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.[4] 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".


Management
  • Mr Anand Panyarachun, Chairman of the Board[5]
  • Dr Vichit Suraphongchai, Chairman of the Executive Committee[6]
  • Mr Arthid Nanthawithaya, Chief Executive Officer[6]

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