Reshuffle of top-level management at BAY
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Bank of Ayudhya (BAY) has reorganised its executive line-up in a bid to improve the performance of its retail banking business, including mortgages and cards.
Wichit Phayuhanaveechai, who was transferred to BAY from HSBC (Thailand), was appointed executive vice president for Acquisition Integration Project and Mortgage Loan Products to look after mortgages. He was also set to take care of the retail banking business, an area that he was responsible for when working for HSBC.
A source in the banking sector said that BAY missed its target for home loans last year, due to the flood crisis, and witnessed slow growth in loans compared with other major banks, leading to the changes in the management at the bank.
The bank recorded outstanding home loans of Bt91 billion by the end of last year, falling short of the target of Bt93 billion-Bt94 billion. In addition, the bank’s new home loans in the first quarter were Bt8 billion, off its target of Bt26 billion.
Wichit is a perfect fit at BAY after HSBC (Thailand) decided to sell its retail portfolio to BAY late last year. HSBC will focus on corporate banking. BAY expects Wichit’s arrival will strengthen its mortgage business as well as integrate the retail banking business bought from HSBC and that of Krungsri Group. BAY wishes to ensure it can deliver the same standard of retail banking services to its clients as did HSBC.
Wichit is a younger brother of Chartchai, an executive vice president at Kasikornbank, who is also in charge of mortgages, credit cards and personal loans.
The bank will officially introduce Wichit soon.
Meanwhile, the bank recently promoted Thakorn Piyapan as managing director of Krungsri Consumer (Ayudhya Capital Services), which is responsible for credit-card business. Thakorn previously was the bank’s executive vice president of Primary Banking, Consumer Banking Group, which includes mortgages.
Thakorn, however, remains supervisor of debit cards and ATM cards, because Krungsri Consumer has various types of credit cards and BAY plans to synchronise its debit cards and credit cards to increase convenience for customers.
The bank reportedly plans to reorganise its internal business and management, to smooth its operations.
