Category
🗞
NewsTranscript
00:00In the early 1900s, Thailand's economy was going fast, but most of the banking services were controlled by foreign powers.
00:09British and French banks handled trade finance, while Thai merchants struggled to access credit. This limited the country's economic independence.
00:17The idea of a Thai-owned bank was raised. In 1904, a small financial trust to serve Thai clients was set up by the Thai monarchs, and the trust proved successful.
00:27In 1906, the trust formally evolved into a commercial bank. A year later, it received a royal charter from King Jhalalongkorn, officially recognizing it as Thailand's first Thai-owned bank.
00:38Its core mission was to promote local trade, protect national interests, and support economy at a time when foreign influence was growing fast.
00:47The bank later became known as Siam Commercial Bank, with its first permanent office opening in Talan Noi in Bangkok.