Krungsri’s SME unit boosts loans 7.6% for first half
The SME Banking Group of Bank of Ayudhya, doing business as Krungsri, showed strong performance in the first half of this year with loans to small and medium-sized enterprises (SMEs) growing 7.6 per cent from December 2016.
Krungsri’s SME strategy is to become the main bank for customers by offering lending and financial transaction services.
As part of its innovation and digitalisation plan, Krungsri has developed a digital platform to offer electronic payment services for the SME sector in line with the National e-Payment Master Plan.
Krungsri’s unique capability to combine its Thai expertise with the global strength of Mitsubishi UFJ Financial Group will help serve customer needs and enhance the sustainable growth of Thai SMEs, said Sayam Prasitsirigul, head of the SME Banking Group.
The growth momentum is expected to continue in the second half, underpinned by Thailand’s economic recovery.
This quarter, the economy is forecast to expand further, driven by a pickup in both domestic and external demand.
The gradual growth in private consumption, boosted by rising farm income, improving workforce in the service sector and increasing exports are the main drivers of the growth of SME entrepreneurs.
In the first half, Krungsri expanded its SME customer base and loan portfolio.
The low-cost current account, savings account of the SME segment rose by 7 per cent and the trade finance portfolio by 17 per cent, while loans rose 17 per cent.
