Name Choti Lamsam | ||
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Organizations founded Kasikornbank | ||
Choti Lamsam (Thai: โชติ ล่ำซำ; rtgs: Chot Lamsam) was a Thai businessman who founded the Kasikornbank or otherwise known as the Thai Farmers Bank in 1945 with registered capital of Baht 5 Million. The bank has been listed on the Stock Exchange of Thailand (SET) since 1976.
Choti was born in 1879 to a Hakka family. His father, Ng Yuk Long, was a 2nd generation Chinese in Thailand (from Guangdong province). After Ng Meow Ngian, Yuk Long's father died, Yuk Long took over his father timber business, expanded and exported to Europe and Asia. He also owned agricultural trading, saw mills and rice mills. After 1932, he also set up Insurance and banking business. In 1939, Yuk Long was murdered by Chinese mafia. Choti and his brothers, Julin and Kasem, took over the family business. During World War II banking business started to blossom, Choti established Thai Farmer Bank on June 8, 1945, focusing on retail banking and customers in the rural areas. Choti died in 1948 (2491 BE).
Choti Lamsam's grandson, Banthoon, is ranked as the 21st richest in Thailand, Forbes, 2014.