Prince Mahisara Rachaharuthai, is considered to be the “Father of Thai Banking”. At the time only foreign banks were operating in Thailand, such as HSBC, which was established in Bang Rak in 1888. In 1904 Prince Mahisara started the first local bank, which was curiously called the “Book Club”.
This bank soon gained customers and in 1906 King Rama V (1868-1873) granted a royal charter to designate the bank, at the same changing its name to Bank Siam Gummajon. Italian architect Annibale Rigotti (1870 – 1968) designed the bank, its construction lasting from 1906 – 1910.
In 1939 the name was changed again, this time to Siam Commercial Bank. It was the first local commercial bank in Thailand with the purpose of growing the Thai financial industry. From this first branch in Talad Noi, Siam Commercial Bank has expanded to 750 branches nation-wide, the largest bank in Thailand.
Today, the bank still provides full banking services. Visit the bank and you will find beautifully restored interiors, old-fashioned teller counters and a museum area displaying old bank accounts, a calculator and typewriter from the period, and a statue of the founder.
