Published by Jessica Weisman-Pitts
Posted on January 10, 2022
4 min readLast updated: January 28, 2026
Krungthai Bank leads sustainable development in Thailand through CSR, financial literacy, and digital banking, supporting communities and environmental conservation.
Krungthai Bank a leading financial institution in Thailand is dedicated to helping create opportunities for people to access sources of funds as well as providing financial literacy in order to strengthen the economy’s foundation. CSR is at the core of their operation. One of the Bank’s missions is to create a sustainable society through CSR. They focus on strengthening a strong foundation by creating careers for the community, enhancing products and services of the communities through effective marketing operations, and aim to generate sustainability for the communities by being a source of funds for them.
Since 2018, Krungthai Bank has implemented a market conduct policy to ensure responsible practices and fair treatment of customers. The Sustainable Krungthai Initiative or “Krungthai Kunnatham” is based on three strategic principles: foster, prevent, and change aims to create the organizational culture of righteousness and good ethics.
The Bank strives to enhancing the capabilities of employees to support growth and prosperity for customers, enrich quality of society and environment, as well as provide sustainable return for our shareholders. In order to ensure customer received value-added service and ad
vice they provide staff with intensive and continuous training programs, simulation-based practices, as well as post-learning tests. In 2020, the Bank took its attempt to comply with the market conduct rules to the next level and focused primarily on ensuring all our employees who engage with customers are aware and have sufficient knowledge about market conduct.
Krungthai Bank has worked to provide financial services to Thai citizens in every level. The Bank offers various financial products and services covering different objectives such as business, housing, education, and environment. Branch services and digital access services in applications Krungthai NEXT, Pao Tang.
Throughout the pandemic Krungthai Bank has worked to support government policies such as the government’s rollout projects of COVID-19 economic stimulus and relief measures and National e payment in an inclusive and effective manner. Over the course of the last two years, they have initiated numerous CSR Projects and programs to help support the community including Koh Tao. Krungthai Bank cooperated with the Raks Thai Foundation and UNDP to launch this CSR project, under the title “Koh Tao, Better Together.” It was a crowdfunding campaign, which aligned with BIOFIN (The Biodiversity Finance Initiative) to help the locals who negatively affected by the COVID-19 pandemic. The main source of income for most people who lived in Koh Tao was tourism. However, the tourism industry was negatively impacted during the pandemic. Hence, people who worked for the tourism sector, such as boat drivers were struggling. This initiative by Krungthai Bank provided much-needed assistance and helped to create awareness for environmental conservation on the island.
Earlier this year the Bank’s dedication and efforts were recognized in the Global Banking & Finance Review Awards. Global Banking & Finance Review announced Krungthai Bank and CEO Mr. Payong Srivanich as the 2021 Global Banking & Finance Awards® winners for Best CSR Bank Thailand 2021 and Banking CEO of the Year Thailand 2021.
“Through the vision of CEO Mr. Payong Srivanich, ‘Growing Together for Sustainability,’ Krungthai Bank implemented a number of strategic initiatives to provide financial services to people at all levels and improve the quality of life for Thai people. These strategies and goals supported customers through a complete digital ecosystem allowing for banking transactions to take place remotely. They enabled Thai people without banking accounts to use financial services through the use of the Pao Tang platform and E-Wallet. Their strategic vision continued investment in technology, deployment of innovative services and commitment to the socio-economic development in Thailand, and ethical business conduct helped them stand out as the clear winners this year,” said Wanda Rich, Editor, Global Banking and Finance Review. “We look forward to seeing further growth and industry-leading solutions from Krungthai Bank in the years to come.”
The article discusses Krungthai Bank's efforts in sustainable development and CSR in Thailand.
Initiatives include financial literacy programs, community support, and environmental conservation projects.
The bank supported government relief measures and launched crowdfunding for affected communities.
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