Bank Public Company Limited
Rationale behind the Establishment of the
Thai Military Bank
The Thai Military Bank Public Company Limited was the
brainchild of Field Marshall Sarit Tanarat. The bank was
established to pool widely dispersed all the military
funds outside the Country’s budget at the time as well
as to provide financial services as an added benefit to
military personnel and their families.
Upon resolution of the Cabinet to approve the
incorporation of the Bank, “The Thai Military Bank,
Ltd.” was then registered on 5 October 1956 with a
registered capital of 10,000,000 Baht and 100,000 shares
at a par value of 100 Baht per share. The majority of
the shareholders were service men both on active duty,
those on the inactive list as well as other military
units. The initial 4,982 shareholders of the Thai
Military Bank made it the first Thai commercial bank to
have a large and widely distributed shareholder base at
The Thai Military Bank Public Company Limited commenced
its operations on 8 November 1957 at No. 2 Rajadamnoen
Avenue with Field Marshall Sarit Tanarat as Chairman of
the Board, Mr. Chote Kunakasem as President supported by
the total staff of 26.
Although the Thai Military Bank was licensed to conduct
commercial banking business under the Commercial Banking
Act B.E. 2488 similar to other commercial banks, during
the initial stage of operations there were several
restrictions, for example:
Shareholding was restricted to military personnel only.
No other individuals could hold shares in the bank.
Target customers were servicemen and their families.
The objective of the Bank was to facilitate financial
services for the benefit of the military corps and to
add fringe benefits to military personnel.
TMB Bank Public Company Limited