Siam Commercial Bank
Encyclopedia
Siam Commercial Bank is a bank
from Thailand
, based in Bangkok.
Market Capitalization and Asset Data
At the end of September 2010, SCB's market capitalization stood at 351.8 billion baht, the highest among Thailand's financial institutions, with assets of 1,363 billion baht. SCB's branch, exchange booth, and ATM networks totaled 1,005, 114, and 7,678 units respectively, the highest in the banking sector.
History
SCB was founded as the “Book Club” on October 4, 1904 by His Royal Highness 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).
Some significant developments:
The Bank provides a full spectrum of financial products and services to meet the various needs of its customers through SCB core business groups:
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
from Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
, based in Bangkok.
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 September 2010, SCB's market capitalization stood at 351.8 billion baht, the highest among Thailand's financial institutions, with assets of 1,363 billion baht. SCB's branch, exchange booth, and ATM networks totaled 1,005, 114, and 7,678 units respectively, the highest in the banking sector.
History
SCB was founded as the “Book Club” on October 4, 1904 by His Royal Highness Prince Mahisara Rajaharudaya, a brother of King Chulalongkorn
Chulalongkorn
Phra Bat Somdet Phra Poramintharamaha Chulalongkorn Phra Chunla Chom Klao Chao Yu Hua , or Rama V was the fifth monarch of Siam under the House of Chakri. He was known to the Siamese of his time as Phra Phuttha Chao Luang . He is considered one of the greatest kings of Siam...
(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
Sub rosa
The Latin phrase sub rosa means "under the rose" and is used in English to denote secrecy or confidentiality, similar to the Chatham House Rule....
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
Bangkok
Bangkok is the capital and largest urban area city in Thailand. It is known in Thai as Krung Thep Maha Nakhon or simply Krung Thep , meaning "city of angels." The full name of Bangkok is Krung Thep Mahanakhon Amon Rattanakosin Mahintharayutthaya Mahadilok Phop Noppharat Ratchathani Burirom...
’s Talad Noi District in 1910. In 1911, it was granted approval to display the royal Garuda
Garuda
The Garuda is a large mythical bird or bird-like creature that appears in both Hindu and Buddhist mythology.From an Indian perspective, Garuda is the Hindu name for the constellation Aquila and...
symbol as a royal warrant by King Vajiravudh
Vajiravudh
Phra Bat Somdet Phra Poramentharamaha Vajiravudh Phra Mongkut Klao Chao Yu Hua , or Phra Bat Somdet Phra Ramathibodi Si Sintharamaha Vajiravudh Phra Mongkut Klao Chao Yu Hua , or Rama VI was the sixth monarch of Siam under the House of Chakri, ruling from 1910 until his death...
(Rama VI).
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 ThammaratNakhon Si ThammaratNakhon Si Thammarat is a town in southern Thailand, capital of the Nakhon Si Thammarat Province and the Nakhon Si Thammarat district. It is about south of Bangkok, on the east coast of the Malay Peninsula. The city was the administrative center of southern Thailand during most of its history. ...
province. - 1927–1930: SCB established its first branches in the Northern Region in Chiang MaiChiang MaiChiang Mai sometimes written as "Chiengmai" or "Chiangmai", is the largest and most culturally significant city in northern Thailand. It is the capital of Chiang Mai Province , a former capital of the Kingdom of Lanna and was the tributary Kingdom of Chiang Mai from 1774 until 1939. It is...
and LampangLampangLampang, also called Nakhon Lampang to differentiate from Lampang Province, is the third largest town in northern Thailand and capital of Lampang Province and the Lampang district. Traditional names for Lampang include Wiang Lakon and Khelang Nakhon. The city is still growing rapidly as trading...
. - 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 ATMAutomated teller machineAn automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
service - 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 PlazaSCB Park PlazaSCB Park Plaza or Siam Commercial Bank Park Plaza is a high-rise building complex located on Ratchadaphisek Road in Chatuchak district Bangkok, Thailand.There are 4 buildings:* SCB Park Plaza 1 * SCB Park Plaza 2...
on Ratchadaphisek Road in the Jatujak District of Bangkok and recorded assets of over 500 billion bahtThai bahtThe baht is the currency of Thailand. It is subdivided into 100 satang . The issuance of currency is the responsibility of the Bank of Thailand.-History:The baht, like the pound, originated from a traditional unit of mass...
. - 30 Jan 2007: the Bank celebrated its 100th anniversary; HRH Princess Maha Chakri Sirindhorn presided over the celebrations at SCB headquarters.
Services
- 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.
Board of directors
- Mr. Anand PanyarachunAnand PanyarachunAnand Panyarachun was Thailand's Prime Minister twice, between 1991–1992 and once again in 1992. He was effective in initiating economic and political reforms, one of which was the drafting of Thailand's "Peoples' Constitution", which was promulgated in 1997 and abrogated in 2006...
, Chairman of the Board - Dr. Vichit Suraphongchai, Chairman of the Executive Committee
- Mrs. Kannikar Chalitaporn, President