The Success factors of Bangkok Bank since 1944 - 1980s.

Abstract

Bangkok Bank was founded in 1944. Only four years later, however, Bangkok Bank experienced a lack of financial liquidity. Mr. Chin Sophonpanich was assigned to solve the problem. By using his political connections, Bangkok Bank started growing rapidly, and in the 1980s, it became the largest bank with the most total assets in Southeast Asia. Apart from political connections, there were other factors that contributed to the business success of the Bank, such as the expansion of branches domestically and internationally. After 1961 in particular, the Bank expanded its branches into the various provinces under the National Economic Development Plan of Sarit Thanarat’s regime. This helped draw in a large amount of savings from the provinces into the Bank. In addition, the Bank was the first to extended credit to agriculturalists. Moreover, the Bank had a pool of capable personnel who were involved in the political and economic arenas of Thailand. Altogether, these factors made Bangkok Bank the leader in the international Banking business in Thailand.