1. SCB (Siam Commercial Bank), 2. Kasikornbank, 3. Bangkok Bank, 4. TMBThanachart Bank (ttb), 5. Bitkub. In this post, let's examine some of the largest financial services companies in Thailand, ranked by market capitalization. Go directly to other related articles on Toplist if you want to see more of the largest financial companies in other regions ranked by market capitalization.
SCB (Siam Commercial Bank)
Founded on January 30, 1907, the Siam Commercial Bank (Thai:, RTGS: Thanakhan Thai Phanit) is the oldest commercial bank in Thailand. On October 4, 1904, SCB was established as the “Book Club” by Prince Jayanta Mongkol, a brother of King Chulalongkorn (Rama V), who believed that it was time for Siam to have its own banking system to aid in the country’s economic development.
Since this endeavor was in some ways experimental, the term “book club” was selected. Success at the “Book Club” led to its incorporation as “The Siam Commercial Bank” on January 30, 1907, with the blessing of King Chulalongkorn. In 1910, SCB established its headquarters in Bangkok’s Talat Noi neighborhood. King Vajiravudh (Rama VI) authorized the use of the Garuda royal insignia as a royal warrant in 1911.
The Siam Commercial Bank (SCB) has a market cap of $10.42 billion as of April 2023. According to the latest data, SCB (Siam Commercial Bank) is now the 1449th-most valuable firm in the world. SCB (Siam Commercial Bank) reported TTM revenue of $4.66 billion as of the most recent reporting period.
Founded: October 4, 1904
Headquarters: SCB Park Plaza, Chatuchak, Bangkok, Thailand
Screenshot via https://www.scb.co.th/
Kasikornbank, originally known as the Thai Farmers Bank, is a Thai banking conglomerate. Choti Lamsam founded KBank with 5,000,000 baht in registered capital on June 8, 1945 (2488 BE). Since 1976, it has been trading on the Thailand Stock Exchange. The English version of Thai Farmers Bank PCL became Kasikornbank PCL (or KBank in its official form) on April 8, 2003. Kattiya Indaravijaya is the current CEO as of April 2020. Bantoon Lamsam, the founder’s grandson and the company’s former chairman and CEO, served in that role for 28 years.
Founded: 8 June 1945
Headquarters: Bangkok, Thailand
Screenshot via www.kasikornbank.com/en/ir
One of the largest commercial banks in Thailand is Bangkok Bank Public Company Limited. As of September 2018, it operated 32 overseas branches in 15 economies, including wholly owned subsidiaries in Indonesia, Malaysia, and China, and over 1,165 domestic branches in Thailand. In addition to its extensive presence throughout Southeast Asia, Bangkok Bank also maintains locations in London and New York.
Services for both businesses and individuals can be found at Bangkok Bank. It is a major participant in the international market for Thai baht and bonds denominated in that currency. The bank deals in all of the major currencies and a plethora of regional ones. Trading in the primary and secondary markets for government bonds and corporate debentures is another service we offer, along with same-day transactions in import and export bills, inward and outward remittances, swaps, options, and forward contracts.
Bangkok Bank is worth $9.25 billion as of April 2023. In terms of market capitalization, this places Bangkok Bank in the 1568th position worldwide. The most recent financial records reveal that Bangkok Bank has annual revenues of $4.13 billion. The company’s revenue in 2021 was $4.24 billion, up from $3.97 billion in the previous year.
Founded: 1 December 1944
Screenshot via www.bangkokbank.com
Screenshot via www.bangkokbank.com
TMBThanachart Bank (ttb)
Thai Merchant Bank (TTB) is headquartered in Bangkok, Thailand. Since December 23, 1983, it has been traded on the SET (Thailand’s Stock Exchange).  As of the first of the year, Piti Tantakasem will serve as CEO. With 892 billion baht in assets in 2019, TMB is the sixth largest bank in Thailand.
Field Marshall Sarit Thanarat conceived of TMB. Under the Commercial Banking Act, B.E. 2488 (1945), he attempted to launch a commercial banking enterprise catering solely to military personnel. Although the bank was founded in 1957, it wasn’t until 1963 that its first branch, the Rajaprasong Branch, opened in Bangkok.
In 1973, it transitioned into a full-fledged commercial bank serving the entire public. “Thai Military Bank, the Bank for All People,” became its motto. TMB changed its English name to “TMB Bank Public Company Limited” in 2005. The company also unveiled its current logo and motto, “Better Partner, Better Value,” at that time.
The market capitalization of TMBThanachart Bank (ttb) is $4.13 billion as of April 2023. With this market capitalization, TMBThanachart Bank (ttb) is the 2700th most valuable company in the world.The most recent financial filings for TMBThanachart Bank (TTM) show TTM revenue of $1.86 billion. The company’s revenue in 2021 was $1.95 billion, down from $2.08 billion the previous year.
Founded: 8 November 1957
Screenshot via www.ttbbank.com
Bitkub Online Co., Ltd., a subsidiary of Bitkub Capital Group Holdings (Bitkub Capital Co., Ltd.), operates the Bitkub cryptocurrency exchange in Thailand. Founded by Jirayut Srupsrisopa in 2018, it was one of the first exchanges in Thailand to be granted permission to trade digital assets by the Securities and Exchange Commission in 2019.
If statistics from regulated exchanges in 2021 is to be believed, it will have a 90% market share of all bitcoin transactions in the country. One of the first unicorn start-ups in Thailand, SCB announced in November 2021 that it would acquire a 51% stake in the company for 17.85 billion baht (US$537 million).
However, on August 25, 2022, the agreement was scrapped. The SCB noted that the cancellation was necessary because BitKub is now engaged in litigation with the Securities and Exchange Commission of Thailand over allegations of wash trading and insider trading.
Founded: 2 February 2018
Screenshot via https://www.bitkub.com/