May 2026
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Largest Commercial Banking Public Companies in Thailand
Benchmark revenue and EBITDA valuation multiples for public comps like
Krungthai Bank, Kasikornbank, SCB X, Bangkok Bank and Bank Of Ayudhya.
 | Krung Thai Bank PCL is a commercial bank in Thailand conducting its business through a nationwide branch network and in certain centers of the world. The company operates in the following reportable segments: Retail banking, Corporate banking, and Treasury and investments. Maximum revenue is generated from its Retail banking segment, which develops financial products and services and also provides services for individual customers relating to deposits, loans, payment for goods and services, and others. The Corporate Banking segment provides credit facilities and financial services to corporate clients, and the Treasury and Investments segment controls the bank's financial structure and manages its equity investments, international business, and excess liquidity. | $1 | +62% | $15B | $27B | 5.2x | - | ||
| Kasikornbank Public Co Ltd is a commercial bank operating in Thailand. The corporate business customers of the company include public and private companies, government-backed enterprises or agencies, and financial institutions. The corporate business provides a variety of financial products and services, such as loans, working capital, cash management, and value chain solutions. The retail business focuses on individual customers and offers loans and deposits, debit and credit cards, financial planning, and transactional banking services. The treasury and capital markets business includes funding, risk management, foreign currency exchange services, and other related businesses. | $6 | +30% | $15B | $23B | 3.4x | - | ||
| SCB X PCL is a full-service Thai bank, and its principal shareholder is the Thai Crown Property Bureau, followed by a fund operating under the Thai Ministry of Finance. The bank provides a range of financial services such as customer deposits, home loans, personal credit, car hire purchases, ATM and debit transactions, currency exchanges, overseas remittances, corporate banking, insurance, asset management, and securities trading. The bank's long-term focuses on small and medium-sized enterprises, financial planning, customer service, and digitalization and analytics. Nearly half of its loan portfolio is in retail loans, the majority of which are housing loans. | $4 | +14% | $14B | $27B | 4.9x | - | ||
| Bangkok Bank PCL is a Thai commercial bank with some international exposure. The bank's segments are; Domestic banking that include domestic services such as loans, deposits, trade finance, remittances and payments, electronic services, credit cards, debit cards and others; International banking which provides financial services through overseas branches and subsidiaries. The main products and services are loans, deposits, foreign exchange services, export and import etc; Investment banking provides project services, corporate finance services, financial advisory services, securities business services, business strategic management by trading financial instruments; and Others. | $5 | +23% | $10B | $30B | 5.0x | - | ||
| Bank Of Ayudhya PCL is a full-service universal bank commonly referred to as Krunsgri, operating mostly in Thailand, and with some exposure to other Asian countries. The bank's operations include commercial banking, retail banking, and other financial services, such as wealth management, credit cards, insurance, asset management, securities trading, auto hire purchases, equipment leasing, factoring, microfinance, and installment loans. Its segments include Retail, Commercial and Others. The majority of revenue is derived from the Retail segment. | $1 | +65% | $8B | $18B | 3.5x | - | ||
| TMBThanachart Bank PCL is a Thailand-based company that is principally engaged in banking. The company operates in two reportable segments retail and commercial banking. Retail banking provides customers with services such as deposits, loans, and credit cards. Commercial banking provides lending, deposit, and management services to wholesale, small, and midsize businesses. The company has maximum revenue from Retail Banking. The company's business operations are concentrated in Thailand. | $0 | +20% | $7B | $10B | 4.5x | - | ||
| Krungthai Card PCL engaged in credit cards, personal loans and other related businesses. The Company provides services such as Credit Cards, Personal Loans, KTC Brother Boom Money, MAAI by KTC, Shop business and many. The company operations relate to a single business segment which is the financial services business and are carried out in a single geographic area which is Thailand. | $1 | +24% | $2B | $4B | 4.7x | - | ||
| Median | $1 | +24% | $10B | $23B | 4.7x | - |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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