Information about the Company and Brand
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. Krungthai Bank is highly committed to social and environmental responsibility, placing emphasis on community engagement and aiming to empower communities through job creation, livelihood generation, and fostering social enterprise development.
Brand Elements
At the heart of Krungthai Bank’s corporate social responsibility branding is its flagship community development initiative, Krungthai Go Local, Grow Local.The initiative is well-aligned with the bank’s vision statement of “Growing Together for Sustainability”, which encapsulates the bank’s ethos of fostering economic growth and prosperity alongside its customers and society while ensuring sustainability.
‘Krungthai Go Local, Grow Local’ is an umbrella initiative for the bank’s community development projects across Thailand, in which the bank focuses on fostering sustainable growth by creating jobs with decent incomes that align with community identities, cultures, and ways of life without compromising their environmental resources.
Additionally, the bank uses its strong competency and expertise in finances to educate and promote the financial literacy of the community members, enabling them to better manage their finances and become self-reliant, both as an individual and as a group. This initiative, along with other corporate social responsibility projects, strengthens the bank’s brand as a socially responsible bank that truly empowers a better life for all Thais.
Growing Together for Sustainability
Inspiring Identity
Krungthai Bank's brand identity is rooted in its commitment to support its customers, as evident in its vision statement “Growing Together for Sustainability” and its mission “Empowering Better Life for All Thais”. The ‘Krungthai Go-Local, Grow-Local’ initiative serves as a beacon of inspiration, showcasing how financial institutions can make a meaningful impact on society. In this initiative, the bank promotes Thai people’s livelihoods, particularly through developing eco-tourism and local products, environmental stewardship, and financial literacy while ensuring that they retain their community identity and pride. With this approach, the residents feel inspired to make positive changes, and they are touched by Krungthai Bank’s contribution and commitment.The initiative also inspires Krungthai Bank's employees, who are encouraged to participate in volunteer activities. Krungthai Bank believes that with over 15,000 employees, if its employees possess a volunteer spirit and a culture of social responsibility, they have the capability to create meaningful impact. Once they witness the tangible impact of their efforts, they will foster a deeper connection to the bank’s mission.
From its experience in community development, the bank has learned valuable lessons in community engagement, including the importance of stakeholder collaboration and the need for adaptable strategies that respect local values and environments, which are key to making the development sustainable.
Achievements and Impact
Krungthai Bank's Go-Local Grow-Local Initiative has achieved significant success in promoting sustainable community development, empowering communities to become self-reliant and resilient through the development of sustainable jobs and financial literacy. A notable example of a project under this initiative is the Koh Tao Better Together project, where the bank collaborated with the United Nations Biodiversity Finance Initiative to support environmental stewardship through a Cash-for-Work model. This project not only provided temporary wages to vulnerable groups but also promoted environmental conservation.The project at Koh Tao became a model for other communities, and as the bank highly values local resources and wisdom, the development plans are tailored for each community. For example, the livelihoods and way of life in the Chiang Khong Community revolve around pineapple farming, so the bank supports them in turning wasted pineapple leaves into handicraft cloth. As a result, these people could establish Yai Jai Social Enterprise as a long-term source of income. Another example is the Ban Pu Community, where the people’s livelihoods depend on dog conch and sea cucumber farming. Guided by celebrity chef Chef Inn, local chefs refined dishes featuring these ingredients, creating standardized signature dishes that increased their value by 50% and boosted community income.
This approach to community development also serves as a model for other companies, highlighting the potential for creating lasting positive change through thoughtful and engaged corporate social responsibility efforts.
Future Direction
Krungthai Bank will continue to expand the scope and depth of the Krungthai Go-Local, Grow-Local Initiative.Moving forward, the bank will identify new communities with high potential and a strong decision to thrive and provide them with tailored support to help them achieve their goals while scaling back on-site support and mentorship for communities that have become self-sufficient, allowing them to continue their development independently.
By refining its community development approach based on lessons learned, the bank aims to continue driving impactful, sustainable initiatives and inspiring communities across Thailand so that they can thrive with their unique community identity.
BRAND MILESTONES
