Krungsri Auto loans exceed target in 2011, rise 34%

The company will participate in the motor show late this month and will begin using a credit analysis solution that will enable loan approvals within 15 minutes.

It had targeted 13 per cent in loan growth last year.

Pairote Cheunkrut, managing director of Ayudhya Capital Auto Lease Plc or Krungsri Auto, said yesterday that the devastating floods late last year had only a marginal impact as fewer than 1 per cent of the company’s customers had problems paying their instalments.

Immediate measures for flood relief and dedication from its employees helped the company sail through the inundation crisis. In spite of the flood, its net earning assets increased 26 per cent to Bt151 billion.

The key to success was winning customer confidence by brand-building and relationship management. These efforts resulted in a Tris rating of A+ and recognition at Super-brands Thailand 2011.

The company will continue to provide total solutions and a well-balanced diversified portfolio. It will expand channels so customers can access services conveniently, such as Krungsri Auto Express in hypermarts, and the No-bill service that allows customers to make payments at convenience stores such as 7-Eleven without having to show their account statements.

Krungsri Auto is also working with a growing number of partners, such as the Government Pension Fund (GPF), which has 1.2 million members nationwide, and Thailand Post. Last year, the company started offering auto financing to GPF members. Thailand Post is cooperating by originating loan applications from 126 post offices.

For 2012, Krungsri Auto aims to increase its total assets by 28 per cent to Bt190 billion and its customer base to 910,000 accounts. The company is confident that it will gain market share and maintain its No 1 position in the used-car and refinancing segments.