Siam City Bank
   HOME

TheInfoList



Click Here for Items Related To - Siam City Bank
OR:
Siam City Bank on:   [Wikipedia]   [Google]   [Amazon]

Siam City Bank (, ) was a Thai
bank A bank is a financial institution that accepts Deposit account, 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 m ...
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 1997 Asian financial crisis gripped much of East Asia, East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide eco ...
, prompting the
Bank of Thailand The Bank of Thailand (BOT; Abbreviation, abbr. ธปท.; , ) is the central bank of Thailand. History The Bank of Thailand (BOT) was first set up as the Thai National Banking Bureau. The Bank of Thailand Act was promulgated on 28 April 1942 ...
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 Thanachart Bank Public Company Limited (TBank) () was a bank headquartered in Bangkok, Thailand. It commenced operations on 22 April 2002 with Thanachart Capital PCL (TCAP) as its parent company. In 2018, it was Thailand's sixth-largest bank in ...
(then owned by the
Bank of Nova Scotia The Bank of Nova Scotia (), operating as Scotiabank (), is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. One of Canada's Big Five banks, it is the third-largest Canadian bank by deposits and ...
), into which it was merged.


References

Defunct banks of Thailand Thai companies established in 1941 Companies formerly listed on the Stock Exchange of Thailand {{Bank-stub