Siam City Bank ( th, ธนาคารนครหลวงไทย, ) was a Thai

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

that operated from 1941 to 2010. The bank was founded by the Nirandorn family, but changed hands many times, and by the 1990s its largest shareholders were the Srifuengfung and Mahadamrongkul families. The bank suffered badly from the

1997 Asian financial crisis The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1 ...

, prompting the

Bank of Thailand The Bank of Thailand (BOT) ( Abrv: ธปท.; th, ธนาคารแห่งประเทศไทย, ) is the central bank of Thailand. History The Bank of Thailand (BOT) was first set up as the Thai National Banking Bureau. The Bank ...

to intervene. The bank was bailed out and taken over by the state-owned Financial Institutions Development Fund (FIDF). It underwent a merger with the Bangkok Metropolitan Bank in 2002. In 2010, the FIDF sold its controlling stake in the bank to Thanachart Bank (then owned by the

Bank of Nova Scotia The Bank of Nova Scotia (french: link=no, Banque de Nouvelle-Écosse), operating as Scotiabank (french: link=no, Banque Scotia), is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. One of Canada ...

), into which it was merged.

References

Defunct banks of Thailand {{Bank-stub