Krungthai Bank, officially Krungthai Bank Public Company Limited, and sometimes known by its initials KTB, is a state-owned bank under license issued by the Ministry of Finance. KTB's Swift code is KRTHTHBK.
History
The bank came into being on 14 March 1966 following the merger of two government-owned banks, Kaset Bank and Monton Bank.[4] The merged banks were then named "Krungthai Bank Limited", bearing its logo as an image of the Vayupaksa bird — a mythical creature that feeds on winds — which is also used by the Ministry of Finance.
On 2 August 1989, Krungthai Bank was the first state enterprise to list its shares on the Stock Exchange of Thailand (SET).[5] Its major shareholder is the Ministry of Finance through a shareholding of 6,184 billion shares by the Financial Institutions Development Fund (FIDF), accounting for 55.31 percent of total shares.
In addition to commercial banking activities, Krungthai Bank has served as a channel for financial services in support of governmental initiatives. It does this by lending to businesses of certain types, such as One Tambon One Product (OTOP) loans, ICT computer loans, and educational loans. Moreover, the bank is used by most government agencies for disbursements. For example, the revenue department issues tax refunds via Krungthai cheque and it handles disbursement of government funds such as pension payments.