Siam Commercial Bank

Siam Commercial Bank
Public
Traded as SET: SCB
Industry Banking
Insurance
Leasing
Real estate
Founded October 4, 1904 (1904-10-04) (unofficial)
January 30, 1907 (1907-01-30) (official)
Founder Prince Jayanta Mongkol
King Rama V
Headquarters Chatuchak, Bangkok, Thailand
Revenue Increase ฿165.83 billion (2014) [1]
Increase ฿53.33 billion (2014)[1]
Total assets Increase ฿2,699.70 billion (2014)[1]
Total equity Increase ฿285.33 billion (2014)[1]
Owner Crown Property Bureau
Thai Ministry of Finance
Subsidiaries SCB Asset Management
SCB Securities
SCB Life Assurance
Cambodia Commercial Bank
Vinasiam Bank
Website www.scb.co.th

Siam Commercial Bank (Thai: ธนาคารไทยพาณิชย์) is the first bank of Thailand, informally established in 1904 as Book Club, and today it is a universal banking group in Thailand with Doctor Vichit as the Chairman of the executive committee

History

Established by Royal Charter in 1907, Siam Commercial Bank PCL (SCB) was Thailand's first bank. At the time of its establishment, the only banks in the country (then known as Siam) were branch offices of foreign banks. SCB currently provides a comprehensive range of financial products and services through its branch, exchange booth, ATM network, and Business Relationship Centers (BRC) nationwide.

Market Capitalization and Asset Data

At the end of December 2014, SCB's market capitalization stood at 618 billion baht, the highest among Thailand's financial institutions, with total assets around 2.7 trillion baht.[2] SCB's branch, foreign exchange kiosks, and ATM networks totaled 1,173, 108, and 9,142 units respectively, the highest in the banking sector.[3]

History

Garuda at a branch in Khon Kaen, signifying the royal warrant given by the King of Thailand

SCB was founded as the “Book Club” on October 4, 1904 by HRH the Prince Mahisara Rajaharudaya, 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 solely on the efforts of 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 January 30, 1907.

SCB opened its headquarters in Bangkok’s Talad 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).[4]

Some significant developments:

Services

SCB exchange booth at Suvarnabhumi Airport, Bangkok

The Bank provides financial products and services through SCB core business groups:

Ratings

On June 17, 2015, Fitch Ratings assigned Siam Commercial Bank Public Company Limited a National Short-Term Rating of 'F1+(tha)'.[6]

Siam Commercial Bank is rated C- by Moody's.[7]

The bank is rated A2 by S&P.[8]

Board of directors

References

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