His Majesty King Vajiravudh (Rama VI) introduced savings
services to Thailand in 1913. The main purpose was to
educate Thai people on banking services and to promote
savings habit among them. King Vajiravudh issued an act,
effective from 1 April 1913, to formally set up the
Savings Office which began its operation under the Royal
Treasury since then.
In 1929, the Savings Office was transferred to be under
the Post and Telegraph Department and then found the
public favor. After the end of World War II, the
government foresaw the benefits of savings as well as
the important role that the Savings Office played in
developing the country, therefore, 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 (1946) and the
Office was renamed the Government Savings Bank (GSB),
effective from
1 April 1947.
Nowadays, GSB is a juristic person and state enterprise
which operates as a financial institute guaranteed by
the government under the supervision of the Ministry of
Finance. GSB is now running 588 branches all over the
country and has just celebrated its 93rd anniversary on
the 1st April, 2006.
Head Office Government Savings Bank
470 Phaholyothin Road, Phayathai,
Bangkok 10400