Krungsri Autos 2017 Loan Outstanding Surpasses 322 Billion Baht Aiming to Drive Customer Engagement with Digital Innovation Throughout 2018

Stocks and Financial Services Press Releases Wednesday March 21, 2018 15:28
Bangkok--21 Mar--FleishmanHIllard

Mr. Pairote Cheunkrut (Center), Head of Krungsri Auto Group, Bank of Ayudhya PCL, together with Krungsri Auto executives announced strong 2017 performance with loan outstanding consistently growing and unveiled 2018 strategy to enhance customer engagement

through innovative auto finance product and service development.

Krungsri Auto, a leader in automotive finance under Bank of Ayudhya PCL, today announced its strong 2017 performance with loan outstanding exceeding 322 billion baht, a year-on-year growth of 15%. Targeting to reach 345 billion baht of loan outstanding within this year, Krungsri Auto aims to enhance customer engagement through innovative auto finance product and service development.

Mr. Pairote Cheunkrut, Head of Krungsri Auto Group, Bank of Ayudhya PCL, said that with 2017 impressive performance across all products, Krungsri Auto's new volume reached 166 billion baht, a 23% increase from the previous year. This success was primarily driven by the new car loan segment. Additionally, Krungsri Auto achieved its target of securing one-fourth of automotive finance market share and successfully maintaining non-performing loan rate (NPL) at 1.6%, which is in line with the market average.

"In 2018, Krungsri Auto strives to build upon its successes and fulfill its commitment to providing automotive finance innovations that comprehensively answer customers' needs. Our main goal for this year is to enhance customer engagement by bringing in digital innovations to unlock new business opportunities and fuel the organization forward. To accomplish this, Krungsri Auto will implement three strategies: Digitization, Customer Engagement and Empowering People."

Under the Digitization strategy, Krungsri Auto will unveil the first-of-its-kind auto loan service on a digital platform. In addition, it will upgrade the operational agility for faster product and service development as well as drive transformation toward an innovative organization.

In enhancing Customer Engagement through services that closely correspond with customer lifestyles, Krungsri Auto places a greater emphasis on product and service personalization. To meet the needs of specific customer fragments, a new loan product will be introduced, targeting entrepreneurs in rapidly growing businesses in the digital era, including e-commerce and logistics. In addition, Krungsri Auto is seeking financial marketplace partners that can bring its products to wider consumer base. The brand's official LINE account has also recently been launched. The platform will be used to facilitate customers with faster services and more relevant information.

Regarding its Empowering People strategy, Krungsri Auto focuses on strengthening the potential of its employees, who are still the key driving force in customer service and dealer relationship management. The employees will be given more authority on decision making, helping to boost operational agility. They will also be equipped with latest digital technologies that will empower them to become financial advisors for customers.

Propelled by consistently impressive performance, three distinctive business strategies and the bright outlook of automotive finance industry, Krungsri Auto is confident that 2018 growth will remain consistent with the previous year. "Krungsri Auto aims to achieve a loan outstanding of 345 billion baht, a 7% increase from the previous year. Also, we firmly believe that we can retain one-fourth of the auto finance market share." concluded Mr. Pairote.

The New Experience with Krungsri Auto

Krungsri Auto, a leader of automotive finance business under Krungsri, offers a variety of loan services, including "Car for Cash", "Krungsri Rod Baan", "Krungsri New Car", "Krungsri Used Car", and "Krungsri Truck" operated by Krungsri Auto Group, Bank of Ayudhya Public Company Limited, "Krungsri Motorcycle", "Krungsri Big Bike", "Krungsri Used Big Bike" and "Krungsri Inventory Finance", operated by Ayudhya Capital Auto Lease Public Company Limited.

Customers can access these financial services through Krungsri Auto's 50 branches and the Bank of Ayudhya's branches nationwide, Thailand Post Offices, Counter Service Outlets at 7-Eleven and Krungsri Auto Call Center (tel. 02-740-7400, press 1).Visit www.krungsriauto.com or www.facebook.com/krungsriauto for more details.


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