Bank of Ayudhya
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| Type | Public Company Limited |
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| Traded as | SET: BAY |
| Founded | January 27, 1945[1] |
| Headquarters | 1222 Rama III Road Yan Nawa Bangkok 10120 |
| Key people |
Mr. Veraphan Teepsuwan (Chairman) |
| Services | Banking |
| Revenue |  77,318 million baht (2011) [2] |
| Net income | 9,304 million baht (2011) [2] |
| Total assets | 947,797 million baht (2011) [2] |
| Total equity | 102,489 million baht (2011) [2] |
| Employees | 16,742 (March 2012)[3] |
| Website | www.krungsri.com |
Bank of Ayudhya Public Company Limited (Thai: ธนาคารกรุงศรีอยุธยา จำกัด (มหาชน)) is one of the largest commercial banks in Thailand (List of banks in Thailand). The Bank has been operating as a commercial bank for more than 60 years. The Head Office is located on Rama III Road and was officially reopened on May 30, 1997. The Bank has continued to increase the number of branches in order to augment its services and expand to regional areas. Today, the Bank is one of Thailand's leading financial institutions, ranking as the fifth largest bank in Thailand in terms of assets, loans and deposits. [4] KRUNGSRI provides banking, consumer finance, investment, asset management and other financial products and services to individual customers, SMEs, and large corporations through its branches and service outlets nationwide.
History
The bank was established on 27 January 1945 in Phra Nakhon Si Ayutthaya Province, the old capital of Thailand back in 1350. Bank of Ayudhya officially opened its door on April 1, 1945 with a registered capital of one million baht. During the same year, the Bank's Head Office was founded on Rajawongse Road in Bangkok.
The Bank's Head Office was relocated to the corner of Anuwongse Road in 1948 and to Lampoonchai Road in 1950. The official inauguration ceremony was conducted in 1951 to mark business growth of the Bank and accommodate an augmented number of customers. In 1970, the Bank's Head Office was relocated to Ploenchit Road, coinciding with the Bank's celebration of the Royal Appointment (Garuda) Emblem, granted by His Majesty the King, to the Bank on 15 May 1970. The Bank listed on the Stock Exchange of Thailand on September 28, 1977. (SET: BAY)
Successful operations as a commercial bank for more than 60 years, the bank relocated the Head Office to Rama III Road on December, 1996, the current location of the Bank’s headquarters.
On 3 January 2007, BAY and GE Capital, a global consumer financial service firm, became strategic partners. GE Capital and Ratanarak Group are now major shareholders with a 33% and a 25% stake in BAY, respectively.[5][6]
Distribution Network
- Domestic Branches : 595
- Overseas Branches : 4
- Exchange Booths : 67
- ATMs : 3,948
- Krungsri Centres : 55
- Exclusive Banking Zone: 19
- First Choice Branches + Dealers : 27 + 7,100
- Krungsri Auto Branches + Dealers : 41 + 5,300
- Micro Finance Branches : 208
- As of March 2012
Major Developments / Acquisitions
- On January 3, 2007, KRUNGSRI and GE Money, a global consumer financial services firm, have become strategic partners.
- On February 14, 2008, the Bank completed its acquisition of GE Capital Auto Lease Public Company Limited (GECAL). On the transfer date, GECAL recorded THB 78.01 billion in assets and THB 75.28 billion in outstanding loans, resulting in a 17% increase in the Bank's portfolio size on that date. GECAL has later been renamed as Ayudhya Capital Auto Lease Company Limited (AYCAL).
- On April 8, 2009, the Bank completed the acquisition of AIG Retail Bank Public Company Limited (AIGRB) and AIG Card (Thailand) Company Limited (AIGCC). The value of the transaction is THB 1.6 billion. KRUNGSRI 's acquisition of both entities resulted in an increase of THB 32.8 billion in the Bank's assets, THB 21.9 billion in loan, THB 18.6 billion in deposit, and approximately 222,000 credit cards.
- On September 9, 2009, the Bank completed the acquisition of CFG Services Company Limited (CFGS), a subsidiary of American International Group, Inc. CFGS, better known as "Srisawad Money on Wheels", is one of Thailand's leading providers of microfinance with strong presence in the title loan market. It had 163 branches nationwide.
- On November 5, 2009 Bank of Ayudhya Completes Acquisition of GE Capital's Consumer Finance Businesses in Thailand. The acquisition of GEMT accelerates the growth of KRUNGSRI consumer banking portfolio by increasing its retail lending portfolio from 36% to 42% of KRUNGSRI total loans. The acquisition of GEMT will enhance KRUNGSRI competitiveness, adding significant scale and diversity to KRUNGSRI core consumer banking business. With the addition of GEMT's current portfolio, KRUNGSRI is now the largest card issuer in Thailand with over 3 million cards in circulation and serving over 8 million customers.
- On January 25, 2012, Board of Directors approved Krungsri Group to acquire HSBC Thailand's retail banking businesses - including credit cards, personal loans, mortgages, and deposits with an estimated consideration of THB 3.6 billion. The transfer is expected to be completed within the first quarter of 2012. As a result of the transaction, Krugnsri Group's assets will grow by roughly THB 17.5 billion or 1.8%, increasing retail loans from 45% to 46% of total loans.
Subsidiaries & Related Companies
| Name of Subsidiaries | Ownership % |
| Auto HP | |
| Ayudhya Capital Auto Lease Public Company Limited (AYCAL) | 99.99% |
| Ayudhya Total Solutions Public Company Limited (AYTS) | 99.81% |
| Micro Finance | |
| CFG Services Company Limited (CFGS) | 99.99% |
| Credit Cards | |
| Ayudhya Card Services Company Limited (AYCS) | 99.99% |
| Ayudhya Capital Services Company Limited (AYCAP) | 99.99% |
| General Card Services Limited (GCS) | 99.99% |
| Krungsriayudhya Card Company Limited (KCC) | 99.99% |
| Collection | |
| Total Services Solutions Public Company Limited (TSS) | 99.99% |
| Investment | |
| Krungsri Asset Management Company Limited (KSAM) | 76.59% |
| Asset Management | |
| Krungsri Ayudhya AMC Limited (KAMC) | 99.99% |
| Securities | |
| Krungsri Securities Public Company Limited (KSS) | 98.71% |
| Factoring | |
| Krungsri Factoring Company Limited (AYFT) | 99.99% |
| Leasing | |
| Ayudhya Development Leasing Company Limited (ADLC) | 99.99% |
| Rank | Major Shareholders | Shares # | Shares % |
| 1 | GE Capital International Holding Corporation | 2,000,000,000 | 32.93% |
| 2 | Thai NVDR Company Limited | 940,659,122 | 15.49% |
| 3 | HSBC (Singapore) Nominees Pte. Ltd | 196,173,935 | 3.23% |
| 4 | Stronghold Assets Company Limited | 166,536,980 | 2.74% |
| 5 | Tunmahachoke Company Limited | 166,478,940 | 2.74% |
External links
↑Jump back a sectionNotes
- ^ Stock Exchange of Thailand. "Company Summary". Retrieved 17 November 2011.
- ^ a b c d Stock Exchange of Thailand. "Company Highlights". Retrieved 17 November 2011.
- ^ 56-1 2011, p. 134.
- ^ Annual Report 2011, p. 36.
- ^ Stock Exchange of Thailand. "Major Shareholders". Retrieved 16 May 2012.
- ^ Annual Report 2011, p. 102.
- ^ http://www.settrade.com/C04_05_stock_majorshareholder_p1.jsp?txtSymbol=BAY&selectPage=5
References
- Bank of Ayudhya (20 March 2012). 2011 Annual Report. Retrieved 16 May 2012.
- Bank of Ayudhya (30 March 2012). Annual Registration Statement (Form 56-1) As of December 31, 2011. Retrieved 16 May 2012.
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