Krungsri Consumer Credit Card and Personal Loan Service Provider Reveals operating results for the first 9 months of 2021, continuously growing Spending via card reaches 199,000 million baht, new loans 54,000 million baht, outstanding loans 128,000 million baht, indicating spending in the online shopping category. Food delivery grows high, spending on essential goods grows slightly The tourism and restaurant sectors have not recovered.
Revealing readiness to adapt to changing business conditions, raising digital innovations to enhance customer experience ready to cooperate with affiliates and partners increase marketing opportunities Along with taking care of credit quality and helping customers Expect the business to recover in the 4th quarter. Target spending via card to reach 285,000 million baht, growing 3% by the end of 2021.
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 1 Credit Card and Lotus Visa Credit Card said, “For this year, the overall credit card and personal loan business is expected to slow down. recovered in the last quarter which is the year-end shopping festival that usually have more spending than other periods
by loosening the lockdown policy including government economic stimulus measures Should help support spending via credit card in all categories. especially in shopping, restaurants, travel and hotels.
while the credit market in the last quarter has a tendency to expand by lending through online platforms and using alternative data to analyze lending should expand This corresponds to consumer behavior that requires liquidity during the COVID-19 period, including convenience. Quick access to credit services and help meet the needs of personal loans among customers who do not have documents showing income, such as self-employed groups.”
“For Krungsri’s business Consumers themselves Krungsri Consumer’s performance from January – September 2021 continues to grow. with spending via card 199,000 million baht, new loans 54,000 million baht, outstanding loans 128,000 million baht, with the top 5 spending categories with the highest growth: 1. Online shopping and electronic wallets (+62%) 2. Insurance (+15%), 3. Home decoration and household items (+8%), 4. IT and electronic products (+7%), and 5. Convenience stores (+6%).”
However, if considering the trend of card spending behavior Data from Krungsri Consumer’s Customer Insights Strategy Division, which analyzes spending behaviors through credit cards and credit cards in its affiliates. point out that Consumers are increasingly turning to online spending. Therefore, businesses need to accelerate adaptation. The spending in online shopping, delivery, and online insurance category grew high.
Meanwhile, spending on daily necessities such as supermarkets, household goods, medicine and health continued to spend. The travel, travel and restaurants sectors continued to be negatively impacted, however, showing positive signs after the lockdown was eased. in spending by booking directly with hotels in some tourist provinces
This is to ensure that Krungsri’s business guidelines Consumers will respond to the changing needs of consumers exactly the same. This year, the company focuses on bringing new innovations. used to enhance products and services such as personalized marketing using data analytics; Develop new services in the UCHOOSE app such as U Cash, a service to withdraw cash from your card limit via the app by bank transfer or PromptPay, UCard, a service for accepting new cards via the app, UMall offers special deals for products from company partners; opening new service channels via Krungsri Consumer Line OA and Facebook; new product launches such as the Krungsri NOW card, a digital life credit card that offers 5% cash back on online purchases; voice authentication service; Service for asking card account information via FB Messenger, etc.
“In addition, Krungsri Consumer will also collaborate with companies in Krungsri group. Group and partners to increase market opportunities along with finding new sources of income as well as expanding business to the ASEAN region to create sustainable growth It operates in parallel with asset quality supervision through strict risk management. The company expects that in 2021 there will be 285,000 million baht in spending via cards, 76 billion baht in new loans and 142 billion baht in outstanding loans.”
