KTC tailors loan drive by region
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Credit card firm to spur spending upcountry
Krungthai Card will target its consumer-loan marketing region by region this year.
“We are designing campaigns to segment the market to serve the needs of each customer,” Sudaporn Janwatanagool, executive vice president for the personal loan business at KTC, said yesterday
“We aren’t out to expand our provincial base. We just want our existing customers upcountry to spend more,” she said.
Personal-loan customers in the provinces account for 7-10 per cent of the total. KTC does not actively launch campaigns for customers upcountry as it does for Greater Bangkok.
KTC resumed its campaigns in full after turning profitable again. It says its major campaign – “Debt Clearing Season II” – is the key to its success in acquiring new customers and boosting revolving credit in the first five months of this year.
The campaigns that help ease financial burdens will be warmly received by existing customers, it believes.
In the first five months, KTC acquired 4,600 fixed-loan customers out of the goal of 7,500 and 59,000 revolving-credit customers out of 100,000.
The company is confident of exceeding its forecast of 10-per-cent growth in new personal-loan customers and lending after outstanding loans in the first five months reached Bt13.57 billion, nearly the Bt13.85-billion target set for the whole year, of which Bt700 million is fixed loans and Bt13.15 billion revolving credit.
To stimulate withdrawals from revolving credit lines, it is offering during this quarter and next quarter a zero interest rate for five years to three lucky customers, a zero interest rate for one year to 10 customers and a zero interest rate for three-billing cycles to 200 customers.
The company has not seen any sign of high non-performing loans yet despite the expansion in personal loans last quarter. KTC’s NPLs stood at 2.7 per cent.
Personal loans in the rest of this year are expected to continue to grow in tandem with the economy unless the political situation takes a serious turn again, Sudaporn said.
