KTB, ADVANC, OR join forces to launch “Clicx Bank” virtual bank

As announced by the Bank of Thailand (BOT), approval has been granted to three entities to establish virtual banks in Thailand, namely

• ACM Holding Co., Ltd., part of Ascend Money, the operator of the “TrueMoney” e-wallet service under the Charoen Pokphand (CP) Group.
• Krungthai Bank PCL (KTB), Advanced Info Service PCL (ADVANC), and PTT Oil and Retail Business PCL (OR).
• SCB X PCL, WeTechnology Limited, and KakaoBank Corp.

KTB has informed the Stock Exchange of Thailand (SET) that it, along with partners ADVANC and OR, received approval from the Finance Minister on June 19, 2025, to establish a virtual bank. 

Following the approval, the consortium began preparations to comply with all legal and regulatory requirements, including setting up a public limited company to apply for a virtual banking licence. The aim is to launch the virtual bank service by 2026.

On July 9, 2025, KTB and its partners jointly established Thai Trinity Holding Co., Ltd. (HoldCo) with registered capital of 50 million baht, fully paid-up and divided into five million ordinary shares at a par value of 10 baht each. 

At incorporation, KTB held 40%, ADVANC 39%, and OR 20%, with a four-member board of directors.

Subsequently, on August 8, 2025, the consortium set up Clicx Bank PCL (VBCo) with the same registered capital of 50 million baht, also fully paid-up and divided into five million ordinary shares. At launch, HoldCo held 95% of VBCo’s capital, while 15 founding shareholders jointly held the remaining 5%. VBCo has a five-member board of directors.

HoldCo will hold 95% of VBCo’s shares on incorporation, and later acquire the remaining shares from the founding shareholders to bring its stake to 99.99%.

According to information submitted to the BOT, KTB retains the right to nominate at least half of HoldCo’s board members. Both HoldCo and VBCo are considered companies under KTB’s control, in accordance with the Securities and Exchange Act 1992 (and its amendments).