Krungsri First Choice foresees continued loan growth
Play
Krungsri First Choice, the consumer finance business of Krungsri Group, targets to boost loans by 15-20 per cent next year, thanks to the larger merchant network which covers over 10,000 merchants at present.
To achieve the target, the company needs to increase the number of cards by 300,000, on top of more than 2 million to be reached at the end of this year.
Nayanee Peaugkham, leader of finance division for personal loan and sales, said that constituting the merchant network now are electronic dealers (22 per cent), mobile phone distributors (16 per cent), automotive and auto parts dealers (16 per cent), computer and communication device shops (14 per cent), and the rest covering gold shops, beauty centres, camera shops and fitness centres.
A change in consumer lifestyles spiked up demand for consumer loans for mobile phones. Loans in this category jump 75 per cent compared to last year.
"We expect continued growth in the segment, thanks to 3G," she said.
To boost demand in this segment, Krungsri First Choice has launched joint promotion campaigns with leading mobile phone dealers, namely TG Fone, Jay Mart, Power Buy, Big C Supercentre, Tesco Lotus; and three large telecommunication operators - AIS, Dtac True Move.
