SCB X Public Company Limited (SET: SCB) has informed the Stock Exchange of Thailand that the company has established BankX Bank Public Company Limited, a newly incorporated subsidiary within SCB’s financial business group in which SCB holds 90% of the total issued shares.
BankX has been registered as a public limited company with a registered capital of THB 10,000 and has a plan to increase its registered capital to THB 5,000,000,000 within 2026, or upon submission of an application for a virtual banking license to the Ministry of Finance, in order to operate under the rules and timeline by the Bank of Thailand.
BankX is currently undertaking launch preparations in conjunction with its strategic partners, namely KakaoBank Corp., one of BankX’s shareholders and the largest digital banking service provider in South Korea, and WeBank Technology Services Limited, a subsidiary of WeBank Co., Ltd., a leading digital banking service provider in China.
BankX aims to leverage technology and innovation from its partners to develop financial products and services for customers in Thailand. The company will further inform the Stock Exchange of Thailand of any material developments.
