Bank of Ayudhya Public Company Limited (Thai: ธนาคารกรุงศรีอยุธยา จำกัด (มหาชน)), commonly—and confusingly—referred to as Krungsri (กรุงศรี), is a commercial bank based in Thailand. The bank ranks as the fifth largest bank in Thailand in terms of assets, loans, and deposits. Krungsri provides banking, consumer finance, investment, asset management, and other financial products and services to individual customers, small and medium enterprises (SMEs), and large corporations through its branches and service outlets nationwide and abroad.
The bank was established on 27 January 1945 in Phra Nakhon Si Ayutthaya Province, the old capital of Thailand. The Bank of Ayudhya opened its doors on 1 April 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 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.
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
On 18 December 2013, The Bank of Tokyo - Mitsubishi UFJ, Ltd. (BTMU), the wholly owned subsidiary of Mitsubishi UFJ Financial Group (MUFG), Japan's largest banking group and one of the world's largest and most diversified financial groups, replaced GE Capital as the major shareholder of Krungsri.
Domestic branches: 673 (636 are banking branches; 37 are auto business branches)
Overseas branches: 3 (Hong Kong, Vientiane, Savannakhet)
Exchange booths: 93
ATMs: 5,635
Krungsri business centers: 55
Krungsri Exclusive : 19
Krungsri First Choice branches plus dealers: 112 + 16,689
Krungsri Auto Dealers: >7,000
Micro finance branches: 382
Major developments and acquisitions
On 3 January 2007, Bank of Ayudhya (Krungsri) and GE Money, a global consumer financial services firm, became strategic partners.
On 14 February 2008, Krungsri completed its acquisition of GE Capital Auto Lease Public Company Limited (GECAL). On the transfer date, GECAL recorded 78.01 billion baht in assets and 75.28 billion baht in outstanding loans, resulting in a 17 percent increase in the bank's portfolio on that date. GECAL was later renamed Ayudhya Capital Auto Lease Company Limited (AYCAL).
On 8 April 2009, Krungsri completed the acquisition of AIG Retail Bank Public Company Limited (AIGRB) and AIG Card (Thailand) Company Limited (AIGCC). The value of the transaction was 1.6 billion baht. Krungsri's acquisition of both entities resulted in an increase of 32.8 billion baht in the bank's assets, 21.9 billion baht in loans, 18.6 billion baht in deposits, and approximately 222,000 credit cards.
On 9 September 2009, Krungsri 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 micro-finance with a strong presence in the title loan market.
On 5 November 2009 Krungsri completed the acquisition of GE Capital's Consumer Finance Businesses in Thailand. The acquisition of GEMT accelerated the growth of Krungsri's consumer banking portfolio by increasing its retail lending portfolio from 36 percent to 42 percent of Krungsri's total loans. With the addition of GEMT's current portfolio, Krungsri is the largest card issuer in Thailand with over three million cards in circulation, serving over eight million customers.
In March 2012, Krungsri completed the acquisition of HSBC Thailand's retail banking businesses, including credit cards, personal loans, mortgages, and deposits with an estimated consideration of 3.6 billion baht. As a result of the transaction, Krugnsri Group's assets grew by roughly 17.5 billion baht or 1.8 percent, increasing retail loans from 45 to 46 percent of total loans.
On 5 January 2015, the Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) Bangkok Branch was successfully integrated into Krungsri, in accordance with the One Presence Policy of the Bank of Thailand. Krungsri issued 1,281,618,026 ordinary shares to BTMU for the transfer of the business of BTMU Bangkok Branch.
* Company under dissolution and liquidation process
As of 11 September 2015
