Bank History – ธนาคารออมสิน



Bank History

106 Year Government Savings Bank More than Bank…the Bank for Society

Bank of Thai people under Chakri Kings

Government Savings Bank was established by King Vajiravudh (King Rama VI) who realized the asset storage secured against thief is very important. His Majesty the King defined the act on the establishment of Savings Office on April 1, 1913. His Majesty the King required Saving Office to be a safe place for asset storage and instilled people to know how to save money properly. Savings Office insisted this role of all time by Royal Grace of all Chakri Kings. One of historical pages was in 1946 King Bhumibol Adulyadej (King Rama IX) graciously raised Savings Office as Government Savings Bank and defined Government Savings Bank Act to support the progress of Savings Office business and operated since April 1, 1947. In 1966, His Majesty the King was the chairman of opening ceremony of the King Rama VI’s Statue and the office building at GSB Head Office, Phaholyothin Road. This was the most grateful for Majesty’s boundless and gracious kindness and all GSB executives and officers. GSB is still the financial institution that stands for Thai people and country development in all aspect.

The passing of King Bhumibol Adulyadej (King Rama IX) was the great loss for all Thai people. Nowadays we are still in mourning and it is difficult to accept. His Majesty the King Rama IX was the prototype of the king who reigned with the virtues of the King and Thai people will remind him in our hearts last forever. One thing that Thai people will do for him is to follow his steps and his habitual practice as always our role model.

On behalf of Government Savings Bank which has received the greatest grace from His Majesty the King, GSB is dedicated to express its highest loyalty since the announcement of Bureau of the Royal Household on passing of His Majesty the King Rama IX on October 13, 2016. GSB has prepared media for both prose and poetry in every communication channel. In addition, it has set a practice of offering tribute to branches across the country to comply with the announcement of Office of the Prime Minister. GSB also has organized many activities such as mourning savings boxes, mourning music on CDs, black T-shirt distributing to Thai people with low income for their remembrance to his grace. Even today, His Majesty the King Rama IX passed away, Thai people always remind of him and present their Loyalty as well as follow the Royal words.

Government Savings Bank will maintain its role according to His Majesty King Rama IX habitual practice and would like to bless for His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun (King Rama X). GSB is committed to operate its business as the bank to create happiness for Thai people and bring prosperity for national development in all aspects.

The Bank of Thai People for Sustainable Happiness

Every step of GSB, besides the responsibility of the financial institution for savings of the country and also continues to strive to maintain and develop society in all aspects to create the lasting happiness for Thai people. In the previous year, the bank was the main pillar of the government on driving Thai’s economy in several projects such as Civil State for People Loan, Credit Debt Solutions for Teachers and Educational Personnel, Civil State Housing, Workshop on Professional Development and Financial Literacy for Small Entrepreneurs, National e-Payment, Civil State Measures to Solve Public Debt Problems (Debt Moratorium), Measure of Living Promotion on the Village Level, Solving the Problems of Shark Loans with Integral and Integrated. In addition, there are projects that have been operated since 2016 under the concept of Economic Savings, Social Savings, Environmental Savings, such as Pink Civil State Market Fair Activity, Pink Community Competition Project, which every activity and project has accomplished the goals set by the government to create the revolving fund in the system and stimulate strong grassroots economy as well as increasing the efficiency of SMEs entrepreneurs sustainably.

The Bank of Thai People with Achievement Awards

By the cooperation to drive goals, plans and other activities as well as develop the main process, business process, management, internal audit and control, good governance, and risk management to get ready for international standard under supervision and monitoring of the Bank of Thailand in the Year 2017 with the success obviously as the honorable awards of product in the organization level and the leader of organization with pride driving GSB to step forward for better quality of life of Thai people in every way.

The Bank of Thai People, More than Bank, the Bank for Societ

Because we are the bank of Thai people for 104 years, GSB still develops the financial services to response the needs of Thai people in every way and ready to step forward to create Thailand as the society of sharing and helping each other, that brings the future with secure, wealthy, and sustainable happiness to people in the country. From now on, GSB is ready to step on creating the innovation of financial services that are valuable to meet of financial needs in every segment of customers to bring the highest satisfaction of the users, as well as working with the public sector, private sector and people sector to drive into Digital Economy and Thailand 4.0 for the 2nd century of GSB gracefully as the Bank of Thai People…. More than Bank, the Bank for Society.

History of the Government Savings Bank

“Bank of Forthia”, a savings model

King Rama VI Rama VI saw the benefits of saving For people to know saving, saving There is a place to preserve assets of the people. To be safe from the outlaws Therefore initiated the establishment of an experimental savings bank by granting the name “Leftia” in the year 1907 to use to study and explore Thai people’s habits in primary savings He understands His Majesty’s people and knows which strategy to use to motivate Thais to see the importance of saving.

The 1st Era:

Oringin of Government Savings Bank

Savings Office was under the supervision of the Royal Treasury Department during 1913-1928.

To promote savings to be useful for common people, His Majesty the King formally set up the savings office under the Royal Treasury Department and gave the royal permission to use “Savings Bank Act B.E.2456 (1913)” which effective from April 1, 1913.

The 2nd Era:

The Rapid Growth

Saving Office was under the supervision of the Post and Telegraph Department, Ministry of Commerce and Communication during 1929-1946.

In 1929, His Majesty King Prajadhipok, King Rama VII, agreed to transfer the Saving Office to be under the Post and Telegraph Department and found the public favor. This savings business during this period has grown tremendously that called “The Era of Advancement of Savings in Thailand”

The 3rd Era:

Security and Stability

Government Savings Bank was under the supervision of Ministry of Finance since 1947 until present.

After the end of World War II, The government foresaw the benefits of savings as well as the importance of the savings office in developing the country. Then the Savings Office was set up as a juristic person, to be operated independently under the supervision of the Board of Directors appointed by the Finance Minister under the Government Savings Bank Act B.E. 2489” and operated as the bank business since April 1, 1947 and changed the name from “Savings Office” to be “Government Savings Bank” since then.

The 4th Era:

A New Look to the Modern Style

At all time, Government Savings Bank has changed, improved and develop its operation system as well as services in all aspects. GSB has adapted to the situation to maintain customers of over 26 million accounts by mobilizing resources to improve the image and services style to be modernized and integrated. Moreover, it is to meet the need of every group occupation and age.