Krungsri Consumer reveals operating results for the first half of 2021 still growing despite the sluggish economy and the COVID-19 outbreak There were 136 billion baht in spending via card, 36 billion baht in new loans, and 131 billion baht in outstanding loans, as a result of the use of technology, innovation and data analysis to enhance operational efficiency. along with cost management and loan quality maintenance
In addition, spending in the online shopping and insurance category grew high. causing the second half of the year to prepare for the launch of digital credit card products Ready to develop services through new digital channels to meet changing lifestyles Along with issuing assistance measures to take care of customers who have been continuously affected by the coronavirus Ready to continue to expand the business for sustainable growth
Ms. Nayanee Puekkham, Chairman of the Board of Directors, Krungsri Consumer, credit card and personal loan service provider which consists of Krungsri Credit Card, Krungsri First Choice Card, Central The One Credit Card and Tesco Lotus Visa Credit Card said that in the first six months of 2021, despite the challenging factors both economic including the COVID-19 situation intensified
But Krungsri Consumer still has satisfactory performance growth. There were 136 billion baht in card spending, 36 billion baht in new loans, 131,000 million baht in outstanding loans, with a non-performing loan (NPL) ratio of 1.2% for credit cards and 2.7% for loans. Personal and installment loans which is lower than the average in the business
All of these are the result of effective risk management and operational cost management. by focusing on adjusting marketing strategies to respond to current market conditions and modern lifestyles This is done in parallel with providing assistance to customers affected by COVID-19. continually, such as measures to suspend principal and interest payments for up to 2 accounting periods, as well as other assistance measures such as reducing the minimum monthly payment, reducing interest rates and extending the repayment period as a special case, etc., to help alleviate the suffering of customers Affected people can go through this difficult time.
“For the trend of spending via credit card. In the first half of this year, it was found that the top 5 card spending with the highest growth rate were:
- Online shopping and e-wallets (+57%)
- Insurance (+20%)
- Department store category (+18%)
- Household items (+15%)
- Hospital category (+10%)
This is in line with the changing lifestyles in which people today are increasingly working from home. Make online spending grow high. There is also a growing interest in health and security in life.”
For this year, Krungsri Consumer aims to develop business through digital and innovation. including the potential for in-depth analysis To develop a channel to offer products and services that meet the needs and match the changing lifestyles of customers. Including improving operational and service processes by applying Process Automation and AI to be able to provide seamless customer service in all situations, such as UCash service, credit card limit transfer to savings account or PromptPay to use. It’s cash from the UChoose app which has been well received, bringing in innovations to enhance its services such as AI Manow, the telephone assistant. That reduces the waiting time of customers, self-checking credit card account information. through a chatbot system on Facebook Messenger, which adds channels for card members to receive convenient services Faster, Voice Authentication Service Voice verification Increased confidence and safety with highly secure voice biometric technology. Increase the speed of service, registration service for assistance measures for affected customers through the UChoose app, etc.
In the second half of 2021, Krungsri Consumer also plans to launch digital credit card products. Including the development of additional services and functions on the UChoose application, including new service channels continuously. To facilitate and better meet the changing lifestyles of customers. It will also change the way of marketing. By applying in-depth analytics to deliver products and services that are personalized to meet the needs of customers. (Personalized) even more
It also plans to use its strengths as an organization with outstanding data to increase marketing opportunities. by offering suitable products and services for potential future customers from the customer base in the Krungsri group of companies according to the Krungsri One Retail policy
There is also a plan to expand the personal loan business in the ASEAN region. through joint ventures in Laos, Philippines, and Cambodia to expand business opportunities for sustainable growth as well
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