Krungthai Bank: Best Social Impact Bank Thailand 2018

Sustainable growth requires businesses to look after the planet and its people, as well as their profit margins. Krungthai Bank in Thailand holds this principle at the core of its business vision, reinvesting a percentage of its profits into Thai society via “intellectual-capital-building activities” throughout the country. Krungthai Bank, of which the government owns a 56% share, is a hybrid bank, enjoying the privilege of a government mandate while maintaining a competitive edge. This partnership is a driver for social change, pushing to make Thailand a cashless society by providing digital alternatives to serve the Thai people and economy in support of the government’s “Thailand 4.0” initiatives. Thailand has a population of 66 million people, and Krungthai Bank serves about half of them. With governmental support, the bank piloted a programme to issue subsidised welfare and Medicare cards to give lower-income Thais access to free public transport or medical care. Krungthai Bank has issued 11.6 million welfare cards to underprivileged Thais, and eight million welfare cards to the elderly. The Medicare cards issued by Krungthai Bank have provided five million Thais — including civil servants, retirees, and staff — with government-provided healthcare benefits. The bank is working closely with the Ministry of Health to digitise the logistics of the health system and ensure ease of access. The CFI.co judging panel commends Krungthai Bank’s efforts to improve the quality of life for all Thais, thus earning the 2018 award for Best Social Impact Bank (Thailand).

marten

Recent Posts

BofA’s Merrill Edge: Excellence in Hybrid Investment Advisory Models US 2025

Bank of America’s Consumer Investments platform has become a leader in hybrid investment advisory services…

6 days ago

CORDET: Best Alternative Credit Investor United Kingdom 2025

CORDET provides flexible, long-term financing solutions to mid-market businesses across Northern and Western Europe, with…

1 month ago

Alpha Bank: Most Innovative Family Banking Services Greece 2025

Alpha Bank has established itself as a leading force in the Greek banking sector, recognised…

2 months ago

Schafer Cullen Capital Management: Innovators in Long-Term Value Equity Strategies USA 2025

Schafer Cullen Capital Management has built a reputation for disciplined, long-term value investing, backed by…

2 months ago

JP Morgan Chase: Most Innovative Investment Banking Services USA 2025

JP Morgan Chase stands at the forefront of the global financial industry, consistently redefining the…

2 months ago

Dubai World Trade Centre: Champion of Global Business and Trade Ecosystems EMEA 2025

For over four decades, Dubai World Trade Centre (DWTC) has been a cornerstone of Dubai’s…

4 months ago