Krungthai Card PCL. (KTC) is a leading consumer finance provider in Thailand. It was incorporated in 1996 as a servicing subsidiary company of Krung Thai Bank PCL. (KTB), the second largest commercial bank in Thailand in terms of assets and owns a large distribution network. KTC’s business scope during the period was to operate credit card issuing and acquiring businesses on behalf of KTB. On June 30, 2002, KTB sold the credit card portfolio at net book value to KTC, subsequently transforming KTC into a full consumer finance company listed on the Stock Exchange of Thailand (SET) in October 2002. As of 31 December 2006, KTC market capitalization was Baht 7,334 million and KTB still held 47.61% of KTC.