To cope with this turn of events, the Bank appointed the former director of the Thai National Bank Office, Mr. Leng Srisomwong, as its new manager. Despite difficult conditions, in 1942 the Bank succeeded in opening another branch in Nakhon Ratchasima, in an area with many important businesses related to agriculture. In 1944, when Mr Leng Srisomwong received Royal appointment to become the Deputy Finance Minister, the Bank appointed Mr. Abhorn Krishnamra as its new manager.
As a consequence of the war, foreign banks in Thailand belonging to countries declared enemies by Japan were forced to close. The sudden shortage of banking services resulted in the establishment of many new Thai commercial banks, such as
The Monthon (Provincial) Bank Limited (1942)
The Bangkok Bank of Commerce, Ltd. (1944)
The Bangkok Bank Ltd. (1944)
The Bank of Ayudhya Ltd. (1945)
The Thai Farmers Bank, Ltd. (1945)
Although the new banks recruited staff from the foreign banks that had been compelled to close, the personnel of these new banks were inexperienced. These new banks were also obliged to carry high liability in providing loans and services since the country was at war.
The Thai Panich Bank was the only bank with considerable knowledge and experience in international trade, due to its and long and successful history. The Bank, therefore, found itself representing traders and undertaking responsibility for providing loan services and managing international financial affairs until the war ended.