Bank for Agriculture and Agricultural Co-operatives

Bank for Agriculture and Agricultural Co-operatives (BAAC)
State enterprise
Industry Banking
Predecessor Bank for Cooperatives
Founded 1 November 1966 (1966-11-01)
Headquarters 2346 Phahon Yothin Road, Sena Nikhom, Chatuchak, Bangkok 10900, Thailand
Number of locations
 1,327 branches, 1,074 service points, 2,001 ATMs.[1]:215
Area served
 Thailand
Key people
 Mr Luck Wajananawat, President[2]
10,368 million baht[1]:2
Total assets 1,431,040 million baht[1]:2
Number of employees
 18,372[1]:215
Parent Ministry of Finance (Thailand)
Website www.baac.or.th/baac_en/index.php

The Bank for Agriculture and Agricultural Cooperatives (BAAC) (Thai: ธนาคารเพื่อการเกษตรและสหกรณ์การเกษตร (ธ.ก.ส.)) was established in 1966. The bank is 99.79 percent owned by the Thai Ministry of Finance.[3]

BAAC's Swift code is BAABTHBK.[4]

BAAC's fiscal year runs from 1 April to 31 March.[1]

History

BAAC was established in 1 November 1966 as a government-owned bank to provide affordable credit to agricultural producers, either directly or through agricultural cooperatives and farmers' associations. BAAC assumed the functions of the Bank for Cooperatives (which had been established in 1947). In March 1993, BAAC was also authorized to lend to farmers for agriculturally-related activities, e.g., cottage industries, and more recently, for non-agricultural activities.[5]

Performance

For the fiscal year 2014 ending 31 March 2015, BAAC reported total assets of 1,431,040 million baht and a net profit of 10,368 million baht.[1]:2 The bank had 1,327 branches, 1,074 service bureaus, 2,001 ATMs, and 18,372 employees.[1]:215

References

  1. 1 2 3 4 5 6 7 BAAC Annual Report Fiscal Year 2014 (1 April 2014 - 31 March 2015). Bangkok: Bank for Agriculture and Agricultural Cooperatives. 2015. Retrieved 31 December 2015.
  2. ↑ "Executive Officers". BAAC. Retrieved 31 December 2015.
  3. ↑ "Shareholder Structure". BAAC. Retrieved 31 December 2015.
  4. ↑ "Contact Us". BAAC. Retrieved 31 December 2015.
  5. ↑ Fitchett, Delbert (1999). Bank for Agriculture and Agricultural Cooperatives (BAAC), Thailand (Case Study). Eschborn, Germany: Consultative Group to Assist the Poorest (CGAP). Retrieved 31 December 2015.
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