Milestones
2023
2022
2021
2019
2018
2017
2016
2015
2014
2013
2012
2010
2009
2008
2007
2006
2005
1970
2023
- The Extraordinary General Meeting of Shareholders No. 1/2023 held on 22 February 2023 resolved to approve Thai Credit's buy back and cancellation of the warrants in the amount of 74,750,000 units which were issued and allocated to VNB and OCA who subscribed to the perpetual bonds (which were recognised as additional Tier 1 Capital) at the buyback price of THB 5.75 per 1 warrant unit. Thai Credit completed the buyback of such warrants in March 2023.
- Thai Credit reduced its registered capital from THB 6,598.17 million to THB 5,850.67 million by decreasing the number of registered shares which had not been sold by 74.75 million shares (par value of THB 10.0 per share). These were reserved for the exercise of warrants to purchase ordinary shares of Thai Credit issued and offered to VNB and OCA who subscribed to perpetual bonds (which were recognised as additional Tier 1 Capital). In this regard, the Bank of Thailand approved such capital reduction in March 2023.
- Thai Credit changed the par value of its shares from THB 10.0 to THB 5.0.
- Thai Credit increased its registered capital from THB 5,850.67 million to THB 6,174.20 million to facilitate the issuance and offering of ordinary shares to the public in the IPO.
- Thai Credit expanded personal revolving loans to new target groups (in addition to the group of customers with fixed income) through entering into the right of claims purchase agreement and relevant agreements with Ascend Nano Company Limited (“Ascend Nano”) to purchase right of claims under loan agreements that Ascend Nano entered into with its debtors.
- Thai Credit entered into a financial agreement with International Financial Corporation (IFC) for a long-term loan to the amount of USD 105.0 million and drew down the entire amount of the facilities on 27 June 2023.
- Thai Credit issued and sold subordinated debentures which were recognised as Tier 2 Capital in the amount of THB 1,700 million to VNB on 15 June 2023.
- On 17 August 2023, Thai Credit obtained the commercial banking business license pursuant to the Financial Institution Business Act, B.E. 2551 (2008) from the Ministry of Finance to operate as a full commercial bank. On 1 September 2023, Thai Credit registered the change of company name and seal with the Ministry of Commerce, and commenced its operation under the name "Thai Credit Bank Public Company Limited" (formerly "The Thai Credit Retail Bank Public Company Limited").
- On 17 August 2023, Thai Credit obtained the authorised bank license pursuant to the Exchange Control Act, B.E. 2485 (1942) from the Ministry of Finance.
- Thai Credit won Top Community Centric Companies in Asia from The Asia Corporate Excellence & Sustainability Awards 2023, giving to the company creating value for communities through projects and support the well-being of society as a whole. This reinforce the image of a bank relied upon by the community and being a bank for sustainability, a community leader company.
2022
- Thai Credit launched the “Standby” campaign to communicate its commitment to stand by all customers during the prolonged outbreak of COVID-19 pandemic and the slowdown of the economy. Thai Credit saw the potential strength of the micro enterprises and SMEs, and launched SME OD products to provide working capital or to increase liquidity of its MSME customers.
- In March, Mrs. Mijitra exercised the option to convert all of the Warrant-M units, raising her shareholding in Thai Credit from 0.83% to 3.84% of the total paid-up shares of Thai Credit, which is THB 5,156.25 million after the conversion.
- Thai Credit submitted the application to the Bank of Thailand for the upgrade of its license from a retail commercial bank to a commercial bank. On 2 September 2022, the Minister of Finance granted the approval for the upgrade to a commercial bank. Thai Credit plans to expand its services to trade finance including providing loan services to business operators conducting trade finance.
- Thai Credit won the Best Design Excellence Award for a 200-220 sq. m. booth from the Bank of Thailand's governor, Dr. Sethaput Suthiwartnarueput, at the Money & Banking Awards 2021, with its creative design of the booth set up at the 21st Money Expo 2021, which conveyed the concept of "Sustainable Financial Life."
- Thai Credit launched its mobile banking application, "alpha by Thai Credit," to provide customers with convenient access to financial services and an enhanced experience through mobile devices.
- Thai Credit increased its registered capital from THB 5,903.75 million to THB 6,598.16 million to accommodate the issuance and offering of 66.67 million ordinary shares (par value of THB 10.0 per share) to all of Thai Credit's existing shareholders (in a rights offering), which were all paid up in December 2022, and to accommodate warrants for the purchase of 2.775 million shares (par value of THB 10.0 per share) that were issued to the senior management as part of the management stock option plan ("MSOP").
- Thai Credit established the Thai Credit Foundation to build upon its commitment in promoting and supporting financial literacy, with three main operating goals: (1) creating interesting, easy-tounderstand, up-to-date content that promotes financial literary; (2) enabling target group to easily access financial knowledge through in-class and online trainings; and (3) developing financial content and courses to strengthen finance, develop career and generate income.
2021
- Thai Credit issued perpetual bonds, with the total value of THB 1,000 million, to VNB Holding Company Limited ("VNB"), and perpetual bonds, with the total value of THB 150 million, to OCA. Under Bank of Thailand's regulations, these bonds are recognised as additional Tier 1 Capital, and would strengthen Thai Credit's capital. Thai Credit also issued and allotted 65.0 million warrants and 9.75 million warrants to VNB and OCA respectively, holders of these perpetual bonds, for the purchase of Thai Credit’s ordinary shares, with the conversion ratio of one warrant per one ordinary share. These warrants expire on 27 May 2031.
- Thai Credit increased its registered capital from THB 5,156.25 million to THB 5,903.75 million to accommodate the aforementioned warrants.
2019
- Thai Credit issued and allotted 15.625 million warrants to Mr. Roy for the purchase of Thai Credit ordinary shares in replacement of the existing warrants of Thai Credit issued and allotted in 2014 and 2017, with the conversion ratio of one warrant per one ordinary share ("Warrant-M"), which expired on 31 March 2022. Later that year, Mr. Roy transferred all of these Warrant-M to his wife, Mrs. Mijitra Gunara ("Mrs. Mijitra").
- OCA Investment Holdings I Pte, Ltd. ("OCA"), a company in the Olympus Capital Asia group, which is a private equity firm, purchased 125 million shares of Thai Credit from Polaris Capital, resulting in OCA holding 25% shareholding in Thai Credit.
- TMDS obtained a license to operate designated payment service under supervision from the Bank of Thailand, and launched its "Micro Pay" application, which was developed to serve consumers' demands in the cashless society and improve the efficiency of its lending branches and cash management.
- Thai Credit maintained its continuous growth from 2014 (excluding interest income of Tanabun Company Limited in which Thai Credit sold shares in such company in 2014) to 2018, with an average accumulated interest income growth of 25.0% per year, demonstrating how Thai Credit reinforced its potential as the best retail bank. Thai Credit also won the "Fastest Growing Retail Bank in Thailand" award from the Global Banking & Finance Review magazine from the United Kingdom, for the third consecutive year.
- Thai Credit launched its 'Klahai SME Loans' for micro enterprises and SMEs, with and without collateral, for expanding business, providing working capital, or increasing liquidity.
- Thai Credit expanded its loan services to retail customers by launching personal revolving loans to serve targeted group of customers with medium to high regular income.
2018
- Thai Micro Digital Solutions Company Limited ("TMDS"), a subsidiary in which Thai Credit holds 99.99% of the paid-up capital, was established to provide electronic financial transaction services through the application "Micro Pay".
- Thai Credit won the "Fastest Growing Retail Bank in Thailand" award from the Global Banking & Finance Review magazine, for the second consecutive year.
2017
- Thai Credit won the "Fastest Growing Retail Bank in Thailand" award from the Global Banking & Finance Review magazine, on account of its strong operating performance and the significant growth in its net profit for three consecutive years, from 2014 to 2016.
- Thai Credit increased its registered capital from THB 4,125.0 million to THB 5,156.25 million.
2016
- The Tang To Know-how project was initiated to promote financial literacy and to inculcate knowledge in financial planning, savings, debt management, and financial risk management in times of crisis for the micro enterprises and SMEs as well as members of the general public that are salaried individuals. A good financial knowledge will help participants make better financial management decisions in the future and increase their ability to live a stable life and their self-esteem.
2015
- Thai Credit began its Nano and Micro Finance Loans services, making it the first commercial bank to give micro enterprises safe, secure, and fair access to formal loans with no collateral or guarantor required.
- Thai Credit launched Home for Cash loan (as part of the Home Loans segment), which was developed from its home loans products and provides additional product features where customers can choose to use the loan to settle other type of loans to reduce the burden of interest expenses or to consolidate other debts into one credit line.
- Thai Credit increased its registered capital from THB 3,125 million to THB 4,125 million.
2014
- Thai Credit sold all of its shares in Thanaban Company Limited in order to pursue its business plan with a focus on micro finance facilities.
- Thai Credit increased its registered capital from THB 3,000 million to THB 3,125 million.
2013
- Thai Credit began to operate lending branches, which are branches that only provide loan services and are in a community area near the establishment of micro enterprises and SMEs. This branch model differs from that of the general bank branches to inclusively serve demand for formal loans among retail business clients.
2012
- Polaris Capital Investment Limited ("Polaris Capital"), a private equity firm under the Northstar Group that invests in businesses across Southeast Asia, purchased 50 million newly issued shares in Thai Credit, resulting in the shareholding of Polaris Capital in Thai Credit becoming 25.0%.
- With an aim to becoming the "best retail commercial bank" in the future, Thai Credit changed the structure of its management team, whereby Mr. Winyou Chaiyawan became the Chief Executive Officer and Mr. Roy Agustinus Gunara ("Mr. Roy") became the Managing Director.
2010
- Thai Credit increased its registered capital from THB 1,500 million to THB 2,000 million in April 2010, and to THB 3,000 million in October 2010.
2009
- To meet the demands of domestic retail customers, Thai Credit acquired the entire business of Thanaban Company Limited to expand its motorcycle hire-purchase business.
- On 14 December 2009, Thai Credit obtained a securities business license from the Ministry of Finance to conduct type D securities business, enabling it to become a mutual fund selling agent.
2008
- Thai Credit increased its registered capital from THB 1,000 million to THB 1,500 million.
2007
- On 18 January 2007, Thai Credit officially commenced its operation with an aim to encourage fair competition with other financial institutions.
- Thai Credit changed its name from Thai Keha Credit Foncier Public Company Limited to The Thai Credit Retail Bank Public Company Limited.
- Thai Credit obtained the life insurance brokerage license and non-life insurance brokerage license to offer insurance products to loan customers, depositors and general customers.
2006
- On 22 December 2006, Thai Credit obtained a commercial banking business license to operate its retail commercial banking business.
2005
- On 28 July 2005, Thai Credit registered its conversion into a public limited company, Thai Keha Credit Foncier Public Company Limited, with authorised share capital of THB 300 million, before raising it to THB 1,000 million.
1970
- Thai Credit was founded as Thai Keha Credit Foncier Company Limited to engage in the financial service business.