Tuesday, February 18, 2020

Krungsri focusing on digital game changers

Feb 12. 2020
Krungsri President and Chief Executive Officer Seiichiro Akita (right)
Krungsri President and Chief Executive Officer Seiichiro Akita (right)
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By The Nation

Bank of Ayudhya Pcl (Krungsri ) and its subsidiaries, under the Mitsubishi UFJ Financial Group (MUFG), has announced its business direction for 2020 with three strategic thrusts focusing on enhancing customer experience through digital transformation, data-driven capabilities and partnership strategy.  And to celebrate its 75th anniversary of sustained successes, Krungsri is committed to reduce greenhouse gas emissions by 7.5 million kgCO2e, underscoring the organisation’s responsibility in cli

And to celebrate its 75th anniversary of sustained successes, Krungsri is committed to reduce greenhouse gas emissions by 7.5 million kgCO2e, underscoring the organisation’s responsibility in climate change management.

Krungsri President and Chief Executive Officer Seiichiro Akita said, “Notwithstanding numerous challenges facing the banking sector in 2019, we delivered remarkable performances measured by both financial and ESG metrics, namely the healthiest loan expansion and strongest asset quality compared to D-SIB peers, as well as an inauguration of the first private sector gender bond not only in Thailand but also in the Asia Pacific”.

For 2020, the last year of the bank's current medium-term business plan, Krungsri will continue to strive towards becoming a top-tier bank in Thailand, supporting by three key strategic thrusts across business segments, namely 1) Enhancing Customer Experience 2) Utilising Data Driven Capabilities and 3) Focusing on Partnership Strategy.

“Digital game changing through both products and processes innovation and services enhancements will be our 2020 strategic priorities. In particular, our prioritised initiatives will centre around the establishment of value-added ecosystems for our customers, including car user, home buyer, and SME ecosystems,” Akita added.

Aiming to contribute to the development of a sustainable society and linked to its ESG mandate, Krungsri has launched several business initiatives to support sustainable growth of local communities through digital innovation and financial inclusion. 

In regard to greenhouse gas, it will reduce emissions to 7.5 million kgCO2e throughout its operations, including product and service offerings in support of Thailand’s transition toward the low carbon economy.

In 2020, Krungsri expects to see loan growth of 5 to 7 per cent and net interest margin of 3.4-3.6 per cent. Non-interest income growth is expected to be in range of -3 to 3 per cent while the NPL ratio is expected to be below 2.5 per cent.

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