Bank of Ayudhya

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Bank of Ayudhya
ธนาคารกรุงศรีอยุธยา
Native name
ธนาคารกรุงศรีอยุธยา จำกัด มหาชน
Company type Public Company Limited
SET:  BAY
Industrybanking
Founded27 January 1945;79 years ago (1945-01-27) [1]
Headquarters1222 Rama III Rd, Yan Nawa, Bangkok 10120
Key people
Seiichiro Akita
(President and CEO)
Karun Kittisataporn
(Chairman)
Services Banking
RevenueIncrease2.svg 111,840 million baht (2016) [2]
Increase2.svg 21,404 million baht(2016) [3] :19
Total assets Increase2.svg 1,833,188 million baht (2016) [3] :19
Total equity Increase2.svg 208,768 million baht(2016) [3] :19
Number of employees
22,834 (2015) [1]
Parent MUFG Bank [1]
Website krungsri.com

Bank of Ayudhya Public Company Limited, branded and commonly referred to as Krungsri (sometimes stylized as krungsri), is the fifth largest bank in Thailand in terms of assets, loans, and deposits. [4] Through its branches and service outlets are in Thailand and abroad, the company provides banking, consumer finance, investment, asset management, and other financial products and services to small and medium enterprises, large corporations and individual customers.

Contents

History

Krungsri Ploenchit Tower, one of the offices Krungsri Ploenchit Tower 550 Ploenchit Road Bangkok.jpg
Krungsri Ploenchit Tower, one of the offices

The Bank of Ayudhya was established on 27 January 1945 in Phra Nakhon Si Ayutthaya Province, the old capital of Thailand. The bank opened its doors on April 1, 1945, with registered capital of one million baht.

In 1970, the bank's head office was relocated to Ploenchit Road, coinciding with the bank's celebration of the royal warrant of appointment (garuda) emblem, granted by the king to the bank on 15 May 1970. The bank was listed on the Stock Exchange of Thailand on 26 September 1977, trading symbol, "BAY". [1]

On 3 January 2007, Krungsri and GE Capital became strategic partners. GE Capital and Ratanarak Group were major shareholders with a 33 percent and a 25 percent stake in BAY, respectively.

In September 2012, GE announced the sale of 7.6 percent of its stake in Krungsri via a number of block trades, reducing their ownership to 25.33 percent. [5]

On 18 December 2013, MUFG Bank, Ltd., the wholly owned subsidiary of Mitsubishi UFJ Financial Group (MUFG), Japan's largest banking group, replaced GE Capital as the major shareholder of Krungsri. [ citation needed ]

Name and brand

After having undergone changes in the late-2000s, including the acquisition of GE Money Thailand, and to reach its goal of becoming one of the top three banks in Thailand, Bank of Ayudhya unified its subsidiaries and rebranded. [6] In 2014, the bank rebranded as "Krungsri" (shortened from กรุงศรีอยุธยา, "capital city/revered city Ayutthaya"), the bank's formal name. In the media, the formal and colloquial names are used interchangeably, while for the bank's own marketing (such as logos, URL, storefronts, ATMs, bank cards and promotional material) "Krungsri" is used.

Distribution network

Major developments and acquisitions

Subsidiaries, associates and joint ventures

Bank of Ayudhya's investments in subsidiaries, associates and joint ventures net as of 31 December 2016 and 2015. [3] :286–288

Major shareholders

RankMajor Shareholders [3] :341Shares #Shares %
1 MUFG Bank, Ltd. BAY Account5,655,332,14676.88
2Stronghold Assets Company Limited166,536,9802.26
3The Great Luck Equity Company Limited166,478,9402.26
4GL Asset Company Limited166,414,6402.26
5BBTV Satelvision Company Limited166,151,1142.26
As of 9 September 2016

See also

List of banks in Thailand

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References

  1. 1 2 3 4 5 "Factsheet: Bank of Ayudhya Public Company Limited". Bank of Ayudhya. Retrieved 3 March 2016.[ permanent dead link ]
  2. "BAY: BANK OF AYUDHYA PUBLIC COMPANY LIMITED". Stock Exchange of Thailand (SET). Retrieved 1 April 2017.
  3. 1 2 3 4 5 6 7 KRUNGSRI ANNUAL REPORT 2016. Bangkok: Bank of Ayudhya PLC. 2017. Archived from the original on 1 April 2017. Retrieved 1 April 2017.
  4. 1 2 3 4 5 "Bank of Ayudhya PCL: Corporate Profile". Bank of Ayudhya. December 2016. Retrieved 1 April 2017.
  5. Stock Exchange of Thailand. "Major Shareholders" . Retrieved 16 May 2012.
  6. "Krungsri". Rebrand. Archived from the original on 18 January 2015. Retrieved 1 April 2017.
  7. 1 2 "Bank of Ayudhya completed its acquisition of GE Money's Auto leasing entity in Thailand". RYT9. 15 February 2008. Retrieved 7 May 2024.
  8. "Thai Bank Acquires AIG Bank, Card Business; S&P: 'No Rating Change'". Insurance Journal. 9 February 2009. Retrieved 7 May 2024.