 Standard Chartered Bank has been in Thailand since 1894 when the Chartered Bank of India, Australia and China first established a branch in Bangkok.In 1999, Standard Chartered acquired 75 percent of the shares of Thailand's Nakornthon Bank for 12.377 billion baht (£193 million at the time).Twenty-five per cent of the shares are held by the Financial Institutions Development Fund, a fund established by the Bank of Thailand, which has recapitalised Nakornthon to approximately seven billion baht (£109 million).