The KASIKORNBANK Public Company Limited was established on June 8, 1945, with registered capital of Baht 5 Million and only 21 employees. Its first office is now the Thanon Sua Pa Main Branch. The Bank showed healthy performance after only six months in operation. As of December 31, 1945, or at the end of its first accounting period, the Bank recorded total deposits of Baht 12 Million, assets of Baht 15 Million.
Throughout the past 70 years, the Bank has always strived to develop our organization and offer financial product initiatives plus excellent service delivery to match our slogan,
“Towards Service Excellence”, as shown in the brief profile below:
At the end of World War II, Kasikorn Bank was established on 8 June 1945 by Mr. Choti Lamsam along with Thai-Chinese relatives. In early days, the bank placed emphasis on financial services for farmers, who made up the majority of Thai population. Such initiative kept the economy rolling despite hard times during the War. Kasikorn Bank’s first head office was located on Sua Pa Road, Bangkok. At that time, this area was a predominately ethnic Chinese business and trade district. Afterwards, the first branch was opened in Hat Yai District, Songkhla, followed by the opening of more branches in major provinces.
Kasikorn Bank grew steadily with new branches established in Thailand and abroad. A new head office was opened on Silom Road, Bangkok, which later become the largest business and financial district of Bangkok. Kasikorn Bank has adopted the motto
“Towards Service Excellence” signifying a unified spirit and mindset to serve customers at all levels. In this era, the bank opened 186 new branches nationwide as well as its first oversea branch in London. After that, the bank established the Thai Farmers Finance and Investment Company in Hong Kong, which later became Hong Kong branch of Kasikorn Bank, Hamburg branch in Germany, New York and Los Angeles branches in the United States of America.
Thai economy made a great forward leap in 1987 because The government liberalized trade and finance, allowing leading foreign banks to compete with domestic banks. During that time, in order to adapt to changes brought about by globalization, Kasikorn Bank initiated and developed outstanding initiatives. Kasikorn Thaibank was Thailand’s first organization implementing a “Reengineering” strategy to provide customers more convenient and rapid services. Foreseeing that the new location would soon become a new business center, the bank then moved its head office from Silom Main Road to Phahon Yothin Road. Later, a new head office on Rat Burana Road, Bangkok was opened. This era also marked a change of the bank’s registration to
“Thai Farmers Bank Public Company Limited” and a success in establishing branches in all 73 provinces across the nation.
During 1985 to 1995, Thailand's economy grew so rapidly that it led to the economic bubble and crisis in 1997. The repercussions affected all sectors, particularly financial institutions. Amidst the disaster, Kasikorn Bank withstood the crisis with responsive measures and policies. The
“Reengineering Policy” implemented in 1994 proved an effective tool in enhancing the much needed flexibility and adaptability to weather the crisis. After the crisis, the bank defined its core mission, value and vision, while accelerating major organizational restructuring, shifting towards a new strategic direction, and attaining the leading role in good corporate governance system among the Thai financial institutions.
As the economic crisis eased, a clear sky opened up for a new era for the Thai business sectors through continuous organisational development. Kasikorn Bank has finally entered an era of total service solution under
“customer centricity” concept. This led to the consolidation of Kasikorn Bank and subsidiaries(K Companies) and
“K KASIKORNTHAI” symbol was adopted to guarantee quality and standards. Moreover, the bank also formed a strategic partnership with Muang Thai Life Assurance PCL to sell insurance products via banking channels. In order to support business expansion, Kasikorn Bank opened a new main building, which was constructed as a “Green Building” under the international energy-saving standards, on Chaeng Watthana Road to operate in parallel with the Phahon Yothin main building and Rat Burana head office. In this era, realizing that the regional financial system will increasingly go beyond borderline, Kasikorn Bank has continued to expand its business to People’s Republic of China, member countries of the ASEAN Economic Community and other asian nations. This could be seen as a farsighted vision
“Towards Service Excellence”.