GOVERNMENT SAVINGS BANK (GSB)

The Government Savings Bank (GSB) is a state-owned enterprise and a specialized financial institution in Thailand, under the Ministry of Finance. It serves as a retail bank, focusing on rural development loans and supporting small and medium-sized enterprises. It stands out for its call deposit accounts (similar to regular savings accounts) that can be opened with a minimum deposit of just 1 baht. The bank offers a wide range of loan and deposit products to meet the needs of customers of all ages, including Islamic financial services. It also conducts social projects, such as the Bank for the People project and short-term loans to small and medium-sized enterprises, providing access to transparent and fair-interest financing. It also serves as a revolving channel for loans from village and urban community funds, as well as investments in national development projects by government agencies and other state enterprises. Currently, the Government Savings Bank has 1,026 branches nationwide. At the end of 2022, the bank was the fourth-highest accumulated state enterprise in terms of revenue contributions.