The Siam Commercial Bank Public Co. Ltd.

Company Background

Siam Commercial Bank is the oldest commercial bank in Thailand. It is currently the third-largest bank by assets, and has over 1,100 branches nationwide.

Its history traces back to 1904 when it was established under the leadership of Prince Mahisorn. After operating for two years as a pilot project under the name of Book Club, the bank was granted the King's permission to be a full-fledged commercial bank.

Given this background, the Bureau of the Crown Property and its Group is the largest shareholder with a 23% stake. The second largest shareholder with a 23% stake is Vayupak Mutual Fund which is 30% controlled by the finance ministry.

Board Chairman Anand Panyarachun has served twice as Thailand's prime minister, from 1991 to 1992 and again in 1992 amid the political unrest after a military coup in February 1991. He was the bank's independent director since 1984 and became chairman in 2007.

Executive Committee Chairman Vichit Suraphongchai started his career as a banker with Bangkok Bank, the country's largest bank by assets. He left Bangkok Bank after serving as president from 1992 to 1994 and became minister of transport and communication.

Business Summary

The Siam Commercial Bank Public Co. Ltd. engages in the banking business. The firm involves in personal banking, business banking, and wholesale banking. It operates through the following segments: Corporate, SME, Retail, and Insurance segment. The Corporate Segment which serves corporate and commercial customers. The SME Segment which serves SME customers. The Retail Segment which serves individuals and small businesses. The Insurance segment provides insurance products through subsidiary companies and the Bank's distribution channel. The company was founded on January 30, 1907 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2021	THB	USD
Revenue	177,824.74M	5,554.20M
Gross Profit	--	--
Operating income	44,172.08M	1,379.67M
Income before tax	44,214.08M	1,380.98M
Net income	35,598.81M	1,111.89M
EBITDA	--	--
Diluted EPS	10.47	0.32
Dividends Per Share	4.06	0.12
Total Assets	3,314.56B	99,223.61M
Total liabilities	2,871.94B	85,973.65M
Total equity	441,006.18M	13,201.80M
Operating cash flow	31,241.38M	975.79M
	Currency in THB	Currency in USD

Historical Data

THB | USD

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	221,897.75M	229,451.00M	222,446.96M	180,269.63M	177,824.74M
Gross Profit	--	--	--	--	--
Operating income	53,480.23M	49,562.12M	35,294.48M	33,866.16M	44,172.08M
Income before tax	53,504.71M	49,515.94M	59,318.32M	33,866.16M	44,214.08M
Net income	43,151.90M	40,067.55M	40,436.35M	27,217.60M	35,598.81M
EBITDA	--	--	--	--	--
Diluted EPS	12.70	11.78	11.89	8.00	10.47
Dividends Per Share	5.50	5.50	5.50	2.30	4.06
Total Assets	3,024.03B	3,187.33B	2,963.74B	3,278.38B	3,314.56B
Total liabilities	2,660.26B	2,806.35B	2,562.89B	2,866.55B	2,871.94B
Total equity	363,463.57M	380,026.59M	400,357.83M	411,429.90M	441,006.18M
Operating cash flow	88,212.88M	91,543.22M	144,895.55M	41,548.97M	31,241.38M

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	6,539.18M	7,097.75M	7,165.35M	5,760.30M	5,554.20M
Gross Profit	--	--	--	--	--
Operating income	1,576.02M	1,533.13M	1,136.88M	1,082.15M	1,379.67M
Income before tax	1,576.75M	1,531.70M	1,910.73M	1,082.15M	1,380.98M
Net income	1,271.65M	1,239.43M	1,302.51M	869.70M	1,111.89M
EBITDA	--	--	--	--	--
Diluted EPS	0.37	0.36	0.38	0.25	0.32
Dividends Per Share	0.16	0.17	0.17	0.07	0.12
Total Assets	92,790.18M	97,891.26M	98,944.07M	109,425.35M	99,223.61M
Total liabilities	81,628.38M	86,190.31M	85,561.89M	95,679.38M	85,973.65M
Total equity	11,152.61M	11,671.57M	13,365.86M	13,732.64M	13,201.80M
Operating cash flow	2,599.57M	2,831.76M	4,667.30M	1,327.64M	975.79M

Valuation Measures

Dec 2021
PER	12.12
ROA	1.07%
ROE	8.35%
Operating margin	24.84%
Profit margin	20.01%

Key executives

Chief Executive Officer & Director: Arthid Nanthawithaya
Co-President: Arak Sutivong
Co-President: Apiphan Charoenanusorn
Co-President: Sarut Ruttanaporn
Chief Financial Officer: Manop Sangiambut

Shareholders

VAJIRAKLAOCHAOYUHUA MAHA VAJIRALONGKORN PHRA (23.3%)
Krung Thai Asset Management Public Co., Ltd. (11.5%)
MFC Asset Management Public Co., Ltd. (Investment Management) (11.5%)
Social Security Office of Thailand (2.2%)
Norges Bank Investment Management (1.0%)
Harding Loevner LP (0.8%)
Krungsri Asset Management Co., Ltd. (0.5%)
McKinley Capital Management LLC (0.5%)
TMB Asset Management Co., Ltd. (0.3%)
Pzena Investment Management LLC (0.1%)

Contact Details

Website:http://www.scb.co.th
Address: SCB Park Plaza, 9 Rutchadapisek Road, Bangkok, 10900, Thailand
Phone: +66.2.544.1000

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Competitors

Kasikornbank Public Co. Ltd.
Mitsubishi UFJ Financial Group, Inc.
CIMB Thai Bank Public Co. Ltd.

Last Updated on 26 Apr, 2022