Information about the Company
Government Savings Bank (GSB), Thailand was established as the Savings Office on 1 April 1913 to encourage people to recognise the importance of savings and instil savings habits among Thai people. At present, GSB provides comprehensive financial services to three customer segments — Grassroots Customer and Government’s Policy Supporting Group; Personal Customer Group; and Business and Public Sector Customers Group. GSB offers a variety of financial products including deposits, loans, electronic financial services, insurance business, investment business along with the development and upgrading of quality of life of grassroots customers and small entrepreneurs.GSB’s Vision is “To be a leader in promoting savings for sustainable national development, enhancing the happiness and security of the people for sustainable national development with digital technology”. Its Mission is “to promote savings and create financial disciplines; to support investment and development; to promote and upgrade grassroots economy as well as small and medium enterprises to reduce inequality and increase competitiveness; to be the Bank for society and environment; to provide fullfledged financial services with modern digital technology, beyond expectations and under acceptable risks; and to operate the business with professional management and good governance.
Corporate Culture & Company Activities
GSB’s core value is the “GSB Way”. It encourages employees to give for the greater good i.e. volunteering, helping and uplifting the lives of the community and the society and to work with honesty and uphold the good ethics. Seeking possibilities is also part of the GSB Way where employees are encouraged to develop themselves to keep up with knowledge and technology and be innovative. The third element of the GSB Way is to be brave beyond boundaries and dare to do things different and to work as a team to achieve goals. GSB Way is used to define corporate culture as a guideline for the best practices in the company.Beyond Banking, the Bank for Society.
Achievements and Impact
GSB has a network of service channels including 1,082 branches/ point of services nationwide covering 6 regions with digital channels and banking agents. There are 21,977 officers in total, 5,598 persons at the Head Office and 16,379 persons at Regional Offices. GSB’s financial standings have grown with continuous growth in deposits and loans. Non-performing loans are also kept at a minimal level with careful supervision and risk management. The Bank’s capital adequacy ratio is higher than the criteria set by the Bank of Thailand.GSB also looks after its stakeholders both in internal and external sustainability, by strengthening the local economy, society and community. In the digital age, GSB has a HR transformation strategy that promotes creativity, innovation and upgrade Digital Banking. GSB also upholds good corporate governance by ensuring its Integrated Governance Risk and Compliance meets international standards.
Future Direction
GSB’s long-term roadmap focuses on its role as a Social Bank, which aims to reduce inequality and create fairness in society, with the concept of “Making Positive Impact on Society”. It is also in accordance to Sustainable Development Goals of the United Nations i.e. to reduce poverty and inequality that takes into account social and environmental responsibility in every business process. Moreover, GSB has signed Principles of Responsible Banking with the United Nations Environment Program Office on finance initiatives (UNEPFI) aiming for sustainable banking in line with the environmental, social, and corporate governance (ESG) principles.COMPANY MILESTONES
