Overview

 
 
Bank of Ayudhya Public Company Limited [symbol in SET: BAY ] was established on January 27, 1945, and its ordinary shares were listed on the Stock Exchange of Thailand in 1977. The Bank is currently the fifth largest bank in Thailand in terms of loans and deposits. KRUNGSRI provides a full range of banking services to both commercial and individual customers.
 


Major Development

  • On January 3, 2007, KRUNGSRI and GE Money, a global consumer financial services firm, have successfully become strategic partners, reflecting GE's commitment and confidence in KRUNGSRI . The goal is to leverage the synergy of the two organizations enabling KRUNGSRI to become a leading universal bank in Thailand.

  • 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'sConsumer 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 of the Bank approved the acquisition of the retail banking business in Thailand from the Hongkong and Shanghai Banking Corporation Limited ("HSBC"), namely credit card, personal loan, mortgages, deposits and bills of exchange.

 

  • On December 18, 2013, BTMU replaced GE Capital as the major strategic shareholder of Krungsri
     


(as of December 2013)

 

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