Krungsri increases minimum salary requirement for personal loans
Krungsri Consumer, a provider of credit cards and personal loans, has adjusted the salary criteria for borrowers from Bt10,000 per month to Bt12,000. This is because Krungsri is becoming more prudent in lending amid the trend of declining household income.
Nayanee Peaugkham, chief of Krungsri Consumer Group, said the group has maintained the criteria for credit card applicants at a monthly salary of Bt15,000
She added that the group is being more careful in granting personal loans as some customers already have a heavy debt burden. Also, she said, raising the monthly salary criteria is helping reduce risks for the company.
She believes the credit card and personal loan market next year will enter growth territory and will see at least one-digit growth.
These businesses have been suffering contraction due to the impact of the Covid-19 outbreak. The company will also focus more on debt collection and restructuring to help customers relieve their debt burden, she added.
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