Banking in Thailand
Banking in Thailand is at par with international standards and makes business transactions in Thailand more efficient. While the banking and financial sector is strengthening, it is still mostly cautious following lessons learned from last decade's Asian financial crisis. Now all financial institutions are regulated by numerous state financial regulating entities and the Bank of Thailand. Today, almost all banks are conveniently accessed by internet or phone banking and many standard banking transactions can be accomplished in automated service centers nationwide. Here are the most popular banks and consulting firms ready to help you do business in Thailand:
Bangkok Bank Public Co. Ltd.
Known as Thailand's largest bank with approximately $47 billion in total assets, Bangkok Bank (or Thanakan Krung Thep) has an extensive distribution network of over 850 branches within Thailand, 19 branches overseas and one overseas representative office and one wholly-owned overseas subsidiary. Established in 1944, the bank now has 16 million customers being offered a full range of business, investment and personal banking services.
Kasikorn Bank Public Co. Ltd.
Established at 1945 and formerly known as Thai Farmers Bank, Kasikorn Bank is now the fourth largest commercial bank in Thailand. It has a network of over 729 branches nationwide and 4 branches overseas. Kasikorn Bank offers a broad range of consumer, commercial, and corporate banking services. These include lending, deposit-taking, credit card services, international trade financing, custodian services, asset management, and investment banking services.
Krung Thai Bank Public Co. Ltd.
Krung Thai Bank is the second largest bank in Thailand and maintains a network of over 500 local branches and 12 international branches. While this bank remains under government control, it offers a wide range of products to meet the financial needs of customers and commercial establishments.
Siam Commercial Bank Public Co. Ltd.
Established in 1907, Siam Commercial Bank is Thailand's first bank. SCB offers a comprehensive range of financial services through its branches, ATM networks and business relationship partners nationwide. Its core business groups include retail, business and corporate banking, trade finance and special assets.
Government Savings Bank
For over 90 years, the Government Savings Bank is a juristic body and state enterprise which operates as a financial institution. With over 590 branches nationwide, the bank offers savings deposits, life insurance deposit schemes, loans, premium savings certificates and more banking services.
Export-Import Bank of Thailand
EXIM Bank is a state financial institution that can engage in any financial activity inherent to commercial bank practices except for accepting deposits from the general public. The bank is aimed at providing more support to overseas Thai investors or local investors in the business of exports.
TISCO Bank Public Co. Ltd.
TISCO was established in 1969 as the first investment bank in Thailand. TISCO derived its name from the full name when it was established, "Thai Investment and Securities Company Ltd.". The bank started its banking operations in 2005 with an investment banking concept to meet the demands of the growing Thai economy. Its head office is located at TISCO Tower on the North Sathorn Road and 14 branches in strategic locations nationwide.
Kiatnakin Bank Public Co. Ltd.
Kiatnakin Bank, a recently established bank in 2005, offers expertise in consumer loans, residential project loans, commercial and industrial loans. They also excel in core commercial services at its 32 branch offices.
BankThai Public Co. Ltd.
After its acquisition by the CIMB Group, BankThai is now known as CIMB Thai Bank. It operates as a universal bank offering a full range of financial products and services.
HSBC in Thailand
HSBC first opened in Thailand in 1888 and is the first commercial bank in Thailand. The bank provides a comprehensive range of financial and banking services to both corporate and personal customers.
Aeon Thana Sinsap (Thailand) Public Co. Ltd.
As part of Aeon Credit Service in Japan, Aeon Thailand's main business activity is a range of retail financial services such as credit cards, hire purchases and personal loans.
Paragon Partners
Paragon Partners offers customized investment banking and financial advising to Thai clients. They specialize in providing assistance in Debt Capital Markets, Investment Services and International Equity Capital Markets.
Sage Capital Ltd.
Sage Capital is an SEC-approved financial advising firm with a team of experienced finance professionals. They provide customized financial advice in areas such as mergers and acquisitions, corporate and financial restructuring.
Grant Thornton Business Consulting
Grant Thornton was established in Bangkok in 1991 and is a leading business consulting firms with some 500 offices in more than 100 countries.
Bank of Thailand
The Bank of Thailand is responsible for all central banking activities as decreed by The Bank of Thailand Act promulgated in 1942.
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