Land and Houses Bank Public Company Limited originated from the idea of Land & Houses Public Company Limited and Quality Houses Public Company Limited. Listed on the Stock Exchange of Thailand, the two companies are engaged in the development and management of real estate projects and command the largest market share. In addition to having strong financial positions, they both are committed to organizational management with good corporate governance. Several years ago, they recognized that Thailand should have a financial institution as a new option for consumers. In 2004, authorities announced the financial institutions development plan. Viewing this as an opportune time to diversify its business to be more comprehensive, the group had Land and Houses Credit Foncier Plc., of which Land & Houses Plc. held 43% of paid-up capital, submit a plan to set up a commercial retail bank to the Ministry of Finance. On December 19, 2005, the Ministry of Finance allowed the Land and Houses Retail Bank to operate. The Bank is licensed to provide deposit services like other commercial banks but cannot conduct transactions related to foreign currencies and derivatives, except money exchange as an authorized money changer. In terms of lending, the Bank can provide all types of services to retail customers and small and medium sized enterprises. In 2009, LH Financial Group Plc. was established, with Land & Houses Plc. and Quality Houses Plc. as the major shareholders with 40.95% and 25.71% of paid-up capital respectively, to invest in the Bank and to be in compliance with the Financial Institutions Act B.E. 2008 and the Bank of Thailand’s notification on consolidated supervision. On October 28, 2009, the Bank of Thailand sent a letter authorizing the establishment of a financial business group, with LH Financial Group Plc acting as the holding company of the financial business group.