KRUNGSRI Bank to become main funding source for SMEs
Bank of Ayudhya's (Krungsri) SME Banking Group has announced its business direction for this year, going ahead with plans to become the main operating bank for SME customers through collaboration with Mitsubishi UFJ Financial Group (MUFG) as well as enhancIng business opportunity for Thai entrepreneurs.
By leveraging MUFG's global network, Krungsri aims to increase the flexibility and efficiency of executing international trade transactions for SME customers. Focusing on the quality of growth with rising revenues and deposits, Krungsri expects to provide Bt7 billion worth of new loans for trade finance in 2019, Sayam Prasitsirigul, Krungsri Head of SME Banking Group, said,
In 2018, loans for medium-sized and small-sized SMEs grew 16.6 per cent, outpacing the industry average. The main drivers were the growth of new loans, loans for supply chain and trade finance, while average low-cost CASA and foreign exchange fees also increased significantly. On the asset quality, non-performing loan (NPLs) for the SME segment decreased from a year earlier to 3.8 per cent, lower than the industry average, he said.
