The bank came into being on 14 March 1966 following the merger of two government-owned banks, Kaset Bank and Monton Bank.[4] The merged banks were then named "Krungthai Bank Limited", bearing its logo as an image of the Vayupaksa bird, which is also used by the Ministry of Finance. On 2 August 1989, Krungthai Bank was the first state enterprise to list its shares on the Stock Exchange of Thailand (SET).[5] Its major shareholder is the Ministry of Finance through a shareholding of 6,184 billion shares by the Financial Institutions Development Fund (FIDF), accounting for 55.31 percent of total shares.