Information about the Company
Krungthai Bank PCL is one of Thailand's leading commercial banks and is recognized as one of the country's six Domestic Systemically Important Banks (D-SIBs). With the Financial Institutions Development Fund (FIDF) as its major shareholder, Krungthai Bank plays a crucial role in the nation's financial landscape. The bank offers a comprehensive range of banking, investment, asset management, and financial services to a diverse clientele, including individuals, SMEs, and large corporations.Guided by the vision of "Growing Together for Sustainability" and the mission of "Empowering Better Life for All Thais”, Krungthai Bank is dedicated to developing financial technology and innovation on the Thailand Open Digital Platform. It aims to improve the quality of life of all customers, including the grassroots, enabling them to adopt and benefit from technology, thereby reducing inequality in access to the digital economy and income distribution.
Krungthai Bank is determined to drive Thai society toward becoming a digital, cashless society and promote financial equality by improving access to finance, financial literacy, and the rights to use public services and income equality, all while considering environmental, social, and governance aspects to ensure that its business grows sustainably together with the Thai society.
Corporate Culture & Company Activities
Krungthai Bank has embarked on a significant cultural transformation to align its workforce with the demands of the digital age and to better serve its role as a government-owned commercial bank.The bank fosters a collaborative and agile work environment by embracing new ways of working, such as hybrid workspaces and the use of collaborative tools. Employees are encouraged to continuously upskill and adapt to the rapidly evolving financial landscape. The corporate hackathon, titled “Wolf Hack”, is central to Krungthai Bank's approach, allowing employees to innovate and contribute solutions that align with the bank’s strategic goals. These initiatives not only nurture a culture of empowerment and agility but also enhance employee engagement and satisfaction.
Krungthai Bank also actively encourages volunteerism among its employees, creating shared value for society through volunteering in Krungthai initiatives such as financial literacy programs for university students and members of communities in which the bank engages. Examples of these CSR programs include the Krungthai Go-Local, Go Local Initiative, and environmental conservation activities like making salt licks for elephants and building check dams. In 2023, Krungthai employees contributed more than 1.1 million hours of volunteering.
Growing Together for Sustainability
Achievements and Impact
Krungthai Bank has demonstrated substantial growth and impact in recent years. The bank’s net profit has seen an impressive rise, recording 56.11% and 8.67% increases in 2022 and 2023 respectively. This contributes to its overall financial health and stability.To ensure sustainable growth, Krungthai Bank has a comprehensive people management strategy that promotes people excellence, which is fundamental to corporate excellence. This strategy covers attracting, developing, and engaging talents, as well as ensuring their career progress and well-being. This includes personalized learning journeys through the ONE Krungthai Application and talent incubation initiatives in collaboration with leading tech firms like IBM and Accenture. These partnerships have not only enhanced the bank's technological capabilities but have also fostered a culture of continuous learning and innovation among employees.
Additionally, Krungthai Bank’s strategic focus on employee mobility and succession planning ensures that it has a ready pool of talent to lead the organization into the future. These efforts are underpinned by a strong governance framework that emphasizes transparency and ethical practices, further cementing Krungthai Bank's position as a leader in the industry.
Future Direction
Amid digital transformation and other challenges, Krungthai Bank ensures it remains relevant and sustains its revenue by reshaping client value propositions through innovation, thereby enhancing the bank’s competitive advantages, creating new growth opportunities, and supporting the bank’s strategic objectives.These strategic objectives cover Transforming the Core, Strengthening Current Businesses, and Growing New Businesses. Krungthai Bank will continue to pursue its strategic objectives by pursuing 7 strategies: (1) Unlock disproportionate value from X2G2X, which involves establishing connections among various customer segments (B2B, B2C, G2B, G2C), developing platforms that cater to the needs of customers’ partners throughout their supply chain, and reaching out to grassroots customers to reduce inequality; (2) Leverage digital and data to drive efficiency; (3) Launch new growth platforms; (4) Support sustainable and inclusive growth; (5) Build future-ready capabilities; (6) Upgrade core technology infrastructure; (7) Transform culture: embed new ways of working to drive organization agility.
Pursuing these strategic focuses will enable the bank, along with its customers, to achieve sustainable growth and thrive in the future.
COMPANY MILESTONES
