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TMBThanachart Bank

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TMBThanachart Bank
ทีเอ็มบีธนชาต (ทีทีบี)
Native name
ธนาคารทหารไทยธนชาต
Company typePublic
SET: TTB
IndustryFinancial services
Founded8 November 1957; 67 years ago (1957-11-08)
HeadquartersChatuchak, Bangkok, Thailand
Area served
Thailand, Laos
Key people
Rungson Sriworasat (Chairman)
Mr.Sornnarin Mahaprom (CEO)
ProductsTransactional banking focused
RevenueIncrease 48,555 million baht (2023)
Increase 11,601 million baht (2023)
Total assetsIncrease 891,713 million baht (2023)
Websitewww.ttbbank.com

TMBThanachart Bank (TTB) (Thai: ธนาคารทหารไทยธนชาต จำกัด (มหาชน); RTGS: thanakhan thahan thai thanachat chamkat maha chon)[a] is a Thai transactional bank based in Bangkok. It has been listed on the Stock Exchange of Thailand (SET) since 23 December 1983.[2] Piti Tantakasem was appointed CEO effective January 2018.[3]

As of 2019, TMB is the nation's seventh largest bank with assets of 892 billion baht.[4]

Performance

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For the year ending 31 December 2018, TMB reported 48,555 million baht in revenues, income of 11,601 million baht, and total assets of 891,713 million baht.[5] In 2018 TMB reported 8,373 employees, 416 branches, and 2,891 ATMs.[6]

History

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TMB was the brainchild of Field Marshall Sarit Thanarat. He endeavoured to establish a commercial banking business to provide financial services exclusively to military personnel under the Commercial Banking Act B.E. 2488 (1945). The bank started in 1957, but only opened its first branch, Ratchaprasong Branch, in Bangkok in 1963. In 1973 it became a full commercial bank with the general public as its customer base. It adopted the slogan, "Thai Military Bank, the Bank for all people". In 2005, TMB adopted the new official name in English, "TMB Bank Public Company Limited", the present-day corporate logo, and a new slogan, "Better Partner, Better Value".[7]

As of 2023, the bank had 560 conventional bank branches. In 2023, the company announced a plan to convert 5-10 branches in Bangkok to paperless and cashless branches.[8]

TMBThanachart Bank

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In 2019, TMB Bank agreed to merge with Thanachart Bank, a retail bank in Thailand, which would make TMBThanachart the sixth largest bank in Thailand.[9] The merger completed in July 2021.[10] Initially, TMBThanachart will have 91 branches, 58 in Bangkok and 33 in the provinces. Praphan Anupongongarch is President of TMBThanachart Bank.[11]

Slogan

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ttb bank has adopted "Make REAL Change" as its corporate philosophy. Doing the same thing and the same way will always yield the same results. As ttb's goal is to improve financial well-being for Thai people, the core foundation of financial freedom, ttb, as a bank, need to change.

Corporate social responsibility program

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ttb set up FAI-FAH as its main corporate social responsibility programme. FAI-FAH is a learning centre where free courses in cooking, painting, singing, dancing and other subjects are offered to low-income teenagers.[12][13] Currently there are two FAI-FAH centres. Many of the children who have been trained by the center have returned to their communities and initiated community development programme aided by ttb staffers who work as volunteers.[14]: 12, 20 

Awards and recognition

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On 14 April 2015, The Asian Banker Leadership Achievement Awards presented the "Best CEO in Asia Pacific 2015" award to Boontuck Wungcharoen, TMB CEO, and the "Best Managed Bank in Asia Pacific" award to TMB. The award ceremony took place during the Asian Banker Summit in Hong Kong. Both Boontuck and TMB are the first from Thailand to receive the accolade.[15]

In its announcement of the awards, the Asian Banker said, "...the bank has changed from a loss-making institution to a profitable one. Its net profit in 2014 rose by 66.2%—the highest among Thai banks. Net profit improved five-fold from, 2009-2014 while asset quality improved. Non-performing loan ratios dropped from 12.7% in 2009 to 2.9% in 2014 and cost-to-income ratios decreased from 77% in 2009 to 53% in 2014."[15]

Mr. Boontuck was also named "Financier of the Year 2014" by Money and Banking magazine. [16]

Shareholders

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Major shareholders as of 7 March 2023:[5]

Management

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Key management as of April 2024:

  • Mr. Piti Tantakasem, Chief Executive Officer
  • Mr.Thakorn Piyapan, President
  • Mr.Somkid Preechasammakul, Chief Financial Officer

Notes

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  1. ^ Formal registered name in English is "TMB Bank, TMB"[1]

References

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  1. ^ "ตลาดหลักทรัพย์แห่งประเทศไทย - ข้อมูลรายบริษัท/หลักทรัพย์". set.or.th. Retrieved 5 June 2015.
  2. ^ "ตลาดหลักทรัพย์แห่งประเทศไทย - สรุปข้อสนเทศบริษัทจดทะเบียน". set.or.th. Retrieved 5 June 2015.
  3. ^ "TMB Bank appoints new CEO". The Nation. 22 November 2017. Retrieved 5 June 2019.
  4. ^ Chantanusornsiri, Wichit (4 July 2019). "TMB-TBank marriage creeps a step closer". Bangkok Post. Retrieved 4 July 2019.
  5. ^ a b "TMB: TMB BANK PUBLIC COMPANY LIMITED". Stock Exchange of Thailand (SET). Retrieved 5 June 2019.
  6. ^ TMB Bank Public Company Limited Annual Report 2018 (PDF). TMB Bank. 2019. p. 7.
  7. ^ "About Us; Background". TMB. Retrieved 28 December 2015.
  8. ^ "Ttb eyes transition to cashless branches". Bangkok Post. 16 March 2023.
  9. ^ "Thailand's TMB and Thanachart bank sign $4 billion merger MOU". Reuters. 26 February 2019.
  10. ^ "TMBThanachart announced its 2022 strategy under the concept". TMBThanachart Bank. Retrieved 15 October 2023.
  11. ^ Banchongduang, Somruedi (18 April 2020). "91 branches for merged bank". Bangkok Post. Retrieved 18 April 2020.
  12. ^ "About FAI-FAH". TMB. Retrieved 28 December 2015.
  13. ^ Tang, Xiangyang (3 February 2012). "Giving by design". Bangkok Post. Retrieved 28 December 2015.
  14. ^ A New Chapter Begins; TMB PCL Annual Report 2014 (PDF). TMB. 2015. Retrieved 28 December 2015.
  15. ^ a b "Boontuck Wangcharoen wins Best CEO of the Year award for 2015 and TMB Bank wins Best Managed Bank in Asia Pacific in 2015" (Press Release). Hong Kong: The Asian Banker. 14 April 2015. Retrieved 29 December 2015.
  16. ^ http://www.moneybiz.tv/News/นักการเงินแห่งปี_2557_บุญทักษ์_หวังเจริญ_ประธานเจ้าหน้าที่บริหาร_ธนาคารทหารไทย_จำกัด_%28มหาชน%29-6768.html[full citation needed]
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