Bangkok Bank Exchange Rate

Siam Commercial Bank (SCB) was established by Royal Charter in 1907 as the first Thai bank. SCB provides a comprehensive range of financial services through its branch & ATM network, and its business relationship centers (BRC) nationwide. As of end of September 2009, SCB is the highest market-capitalization (289 Bath Billion) bank among Thai Financial Institutions with the highest net profit (16 Baht Billion), including its no.1 in branch (960) and ATM networks (6,798).

SCB has transformed itself in response to Thailand's competitive financial services landscape.

History

SCB was established as the “Book Club” on October 4, 1904 by His Royal Highness Prince Mahisara Rajaharudaya, a brother of King Rama V, who was convinced that it was vital for Siam to have its own banking system to serve the country’s economic development. After the expansion of the “Book Club”, King Chulalongkorn (King Rama V) granted royal approval for “The Siam Commercial Bank” to officially operate as a commercial bank on 30 January 1907.

Here are some development:

• 1910: SCB opened its headquarters in Bangkok’s Talad Noi district
• 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
• 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 Ratchadapisek 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

The Bank provides a full spectrum of financial products and services to meet the various needs of its customers through SCB’s 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 bancassurance.

• The Corporate Banking Group offers loans and consultancy and advisory service 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 Panyarachun, Chairman of the Board
• Dr. Vichit Suraphongchai, Chairman of the Executive Committee
• Mrs. Kannikar Chalitaporn, President

References

1. ^ National Science and Technology Development Agency (1993). "A chairman's view on the Thai economy". Scientific American Supplement on Thailand . http://www.nectec.or.th/users/htk/SciAm/15SCB.html . Retrieved 2008-12-31 .  

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