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 2011, SCB's market capitalization stood at 396 billion baht, the highest among Thailand's financial institutions, with assets of 1,878 billion baht. SCB's branch, exchange booth, and ATM networks totaled 1,100, 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:
- 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 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.
Read more about this topic: Siam Commercial Bank
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