Siam Commercial Bank

Siam Commercial Bank

Type	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	฿165.83 billion (2014) [1]
Net income	฿53.33 billion (2014)[1]
Total assets	฿2,699.70 billion (2014)[1]
Total equity	฿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:

• 1912: SCB opened its first branch in the Ratchawong pier area of Sampeng District.
• 1920: SCB opened its first regional branch in Thung Song District, Nakhon Si Thammarat province.
• 1927–1930: SCB established its first branches in the Northern Region in Chiang Mai and Lampang.
• 27 Jan 1939: SCB changed its name to “Siam Commercial Bank” in English, and “Thanakarn Thai Panich” in Thai.
• 1971: SCB’s head office moved from Talad Noi District to Petchburi Road to support the growth of its operations.
• 1983: SCB introduced Thailand’s first ATM service^[5] and established the Thai Bank Museum
• 19 Feb 1993: SCB registered as a public company and was henceforth known as “Siam Commercial Bank Public Company Limited”.
• 29 Jan 1996: SCB moved its headquarters to SCB Park Plaza on Ratchadaphisek Road in the Jatujak District of Bangkok and recorded assets of over 500 billion baht.
• 30 Jan 2007: the Bank celebrated its 100th anniversary; HRH Princess Maha Chakri Sirindhorn presided over the celebrations at SCB headquarters.

Services

SCB exchange booth at Suvarnabhumi Airport, Bangkok

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

• The Retail Banking Group provides home loans, personal credit, car hire purchase, credit cards, ATM cards, debit cards, currency exchange facilities, and overseas remittance, as well as investment and bank assurance.
• The Corporate Banking Group offers loans and consultancy and advisory services to organizations.
• The Business Banking Group delivers financial products and services to businesses in the small-to-medium enterprise (SME) sector through Business Relationship Centers (BRCs) nationwide, providing banking advice and managing customer financial needs.
• Global Transaction Services provides financial transaction products for larger corporations and SME customers. Its products include business cash management, trade finance, and corporate trust.
• The Special Assets Group manages the bulk of the Bank’s portfolio of non-performing loans (NPLs) and non-performing assets (NPAs).
• The Treasury Group offers a range of treasury products covering liquidity, interest rates, and exchange rate instruments.

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

• Mr Anand Panyarachun, Chairman of the Board
• Dr Vichit Suraphongchai, Chairman of the Executive Committee
• Mr Arthid Nanthawithaya, President and CEO^[9]

References

External links

Wikimedia Commons has media related to Siam Commercial Bank.

• Siam Commercial Bank (English)

Banking in Thailand
Central bank	Bank of Thailand
State Bank Group	Krung Thai Bank SME Bank of Thailand Islamic Bank of Thailand Bank for Agriculture and Agricultural Co-operatives Export–Import Bank of Thailand Government Savings Bank Government Housing Bank
Private banks	Bangkok Bank Bank of Ayudhya Kasikornbank Kiatnakin Bank GE Money Bank CIMB Thai Bank ICBC Thai TMB Bank Tisco Bank Siam Commercial Bank Thai Credit Bank Thanachart Bank Siam City Bank UOB Bank Land & Houses Bank Standard Chartered Bank
Foreign banks	ABN AMRO Bank of Tokyo Mitsubishi UFJ Citibank Thailand HSBC ANA Bank RHB Bank Bank of China Deutsche Bank AG Mega International Commercial Bank