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Kasikornbank Public Co. Ltd.

Company Background

Kasikornbank is Thailand's fourth largest bank by assets. In 2003, it changed its former English name Thai Farmers Bank to the current name which is the same sound as the Thai name. It has over 1,000 branches nationwide and some overseas branches mainly in China. Eyeing the start of the Asean Economic Community in 2015, it is planning to expand into neighboring Asean countries such as Laos, Cambodia and Myanmar.

The bank was established in 1945 by ethnic Chinese Choti Lamsam as a small bank in Bangkok and went public in 1976. Expansion was backed by a strong customer base of farmers. It has the largest portfolio of loans to small and midsize enterprises among the country's four big banks.

Current Chairman Banthoon Lamsam is the grandson of founder Choti. In 2009, the bank increased its stake in Muang Thai Group Holding, a privately held insurance company that was founded by another member of the Lamsam family, to 51% and is cooperating in sales of insurance at its bank branches.

Business Summary

Kasikornbank Public Co. Ltd. engages in the commercial banking, securities, and other related businesses. It operates through the following segments: Corporate Business, Retail Business, Treasury and Capital Markets Business, Muang Thai Group Holding Businesses, and Others. The Corporate Business segment provides financial products and services to the high net worth individuals, government and state enterprises, and financial institutions. The Retail Business segment consists of individual customers who use deposit account, debit and credit card, personal and housing loan, investment product and financial advisory services, and transactional banking services. The Treasury and Capital Markets Business segment comprises of capital markets and treasury business and supervises bank's business in overseas countries. The Muang Thai Group Holding Business segment includes a group of companies that operates insurance and brokerage businesses. The Others segment deals with the other items which are not directly attributable to the main business groups. The company was founded by Choti Lamsam on June 8, 1945 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2021 THBUSD
Gross Profit----
Operating income52,667.18M1,645.01M
Income before tax52,667.18M1,645.01M
Net income38,052.72M1,188.54M
Diluted EPS16.060.50
Dividends Per Share3.250.10
Total Assets4,103.39B122,837.85M
Total liabilities3,582.27B107,237.62M
Total equity461,164.53M13,805.25M
Operating cash flow114,826.15M3,586.49M
Currency in THBCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 286,122.46M 281,787.77M 282,430.09M 260,929.76M 267,408.78M
Gross Profit -- -- -- -- --
Operating income 51,460.67M 54,556.95M 57,160.13M 42,486.16M 52,667.18M
Income before tax 48,516.67M 54,553.28M 53,706.13M 41,540.16M 52,667.18M
Net income 34,338.24M 38,459.11M 38,726.74M 29,487.11M 38,052.72M
EBITDA -- -- -- -- --
Diluted EPS 14.34 16.06 16.18 12.42 16.06
Dividends Per Share 4 4 5 2.50 3.25
Total Assets 2,900.84B 3,155.09B 3,293.88B 3,658.79B 4,103.39B
Total liabilities 2,513.01B 2,737.26B 2,840.17B 3,183.06B 3,582.27B
Total equity 348,625.12M 376,297.55M 406,357.61M 424,120.45M 461,164.53M
Operating cash flow 146,121.95M 145,453.82M 119,551.13M 108,389.67M 114,826.15M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 8,431.85M 8,716.72M 9,097.50M 8,337.70M 8,352.28M
Gross Profit -- -- -- -- --
Operating income 1,516.51M 1,687.64M 1,841.21M 1,357.59M 1,645.01M
Income before tax 1,429.75M 1,687.53M 1,729.95M 1,327.36M 1,645.01M
Net income 1,011.92M 1,189.68M 1,247.44M 942.22M 1,188.54M
EBITDA -- -- -- -- --
Diluted EPS 0.42 0.49 0.52 0.39 0.50
Dividends Per Share 0.11 0.12 0.16 0.07 0.10
Total Assets 89,010.14M 96,900.82M 109,965.82M 122,122.75M 122,837.85M
Total liabilities 77,110.10M 84,068.45M 94,818.64M 106,243.68M 107,237.62M
Total equity 10,697.30M 11,557.04M 13,566.16M 14,156.22M 13,805.25M
Operating cash flow 4,306.12M 4,499.41M 3,850.92M 3,463.46M 3,586.49M

Valuation Measures

Dec 2021
Operating margin19.69%
Profit margin14.23%

Key executives

  • Chief Executive Officer & Executive Director: Kattiya Indaravijaya
  • Co-President & Executive Director: Pipit Aneaknithi
  • Co-President & Executive Director: Patchara Samalapa
  • Co-President & Executive Director: Krit Jitjang
  • Co-President & Executive Director: Pipatpong Poshyanonda


  • Social Security Office of Thailand (3.9%)
  • Norges Bank Investment Management (1.3%)
  • GIC Pte Ltd. (Investment Management) (1.1%)
  • TMB Asset Management Co., Ltd. (0.6%)
  • Aberdeen Asset Managers Ltd. (0.4%)
  • Krungsri Asset Management Co., Ltd. (0.4%)
  • APG Asset Management NV (0.4%)
  • Orbis Investment Management Ltd. (0.4%)
  • Schroder Investment Management Ltd. (0.2%)
  • Newton Investment Management Ltd. (0.2%)

Contact Details

  • Website:
  • Address: 1 Soi Rat Burana 27/1, Rat Burana Rd, Rat Burana Sub-District, Bangkok, 10140, Thailand
  • Phone: +

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Last Updated on 30 Sep, 2022

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