Krungsri aims for 7% loan growth in multinationals.

Despite a contraction in loans last year, Krungsri, Bank of Ayudhya, is ambitiously targeting a 7% loan growth for its Japanese and multinational corporation (JPC/MNC) banking clients this year. This was announced by Bunsei Okubo, head of JPC/MNC banking at Krungsri, who attributed last year’s 10% loan contraction to the sluggish growth of the Thai economy and the automobile industry.

However, despite this setback, the bank still managed to generate positive income and maintain satisfactory asset quality in the JPC/MNC segment, said Bunsei.

“We foresee improving momentum of the Thai economy and the auto industry this year. Coupled with our strategic adjustments, we are bullish about the recovery of the bank’s loan growth this year.”

To achieve this ambitious target, Krungsri is set to diversify its JPC/MNC loan portfolio by expanding into other industries such as trading,…