KTC drives for 100,000 more credit cards

 Welcoming 97,000 new personal loan accounts in the first half, it also aims for another 100,000 accounts in the second half with main focus on those earning Bt10,000 or more.
 Nutchanun Kengluecha, executive vice president for Distribution Business, said that the business would be grown by direct sales through Krungthai Bank, KTC Touch service centres, online channels, and co-issuance partnership with Government Savings Bank.
 “We will still focus on personal loan to comply with the continuous growth in demand, following the gradual economic recovery. Expansion of this business can generate immediate income for us in terms of interests. It is also open to a wider group of applicants whose monthly income is at least Bt10,000," she said.
 On credit card business which is near the saturation point, KTC aims more on boosting transactions per card than on the number of cards. At present, the company has issued 1.6 million cards.

“We are working more with Krungthai Bank this year through bundled sales with the bank’s products in order to give customers more benefits. This will help reduce hassle of application documents greatly.”
KTC will also rely on referrers or sales agents in combination with market promotion campaigns in the form of commission and overseas trips to boost the businesses. Greater focus will also be placed on the quality of new applicants by reviewing their credit card spending and initial personal loan withdrawal.

"We will offer a larger credit line as well in order to allow ourselves to generate more revenue while lowering costs associated with the recruitment of new customers. We believe that by the end of this year we will have 100,000 new members each for the personal loan and the credit card businesses.”