Bank for Agriculture and Agricultural Co-operatives
Thai state enterprise for agricultural loan
From Wikipedia, the free encyclopedia
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.[2] BAAC's Swift code is BAABTHBK.[3] BAAC's fiscal year runs from 1 April to 31 March.[1]
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Native name | ธนาคารเพื่อการเกษตรและสหกรณ์การเกษตร |
|---|---|
Company type | State enterprise |
| Industry | Banking |
| Predecessor | Bank for Cooperatives |
| Founded | 1 November 1966 |
| Headquarters | , Thailand |
Number of locations |
|
Area served | Thailand |
Key people | Julapun Amornvivat (Chairman) |
| 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 |
| Website | www |
History
BAAC was established on 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.[4]