Thursday, October 01, 2020

Kasikorn benefits from car-sale boom

Feb 07. 2019
Sasawat Virapriya, KLeasing chairman
Sasawat Virapriya, KLeasing chairman
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By The Nation

Kasikorn Leasing Co Ltd says its 2018 performance for loans totalled Bt105.6 billion and profits Bt1.4 billion thanks to the brighter auto market at home which recorded the highest sales in five years.

In 2019, the focus will also be on an expansion of its online service channels and development of a digital platform for service capability with respect to financing approval and after-sales assistance. KLeasing will work with its business partners and car dealers nationwide with the aim of extending more than Bt110 billion in new loans.

Sasawat Virapriya, KLeasing chairman, said KLeasing’s operating results in 2018 showed total loans of Bt105.6 billion, rising 24.4 per cent from 2017, consisting of auto hire purchase, leasing and car registration loans of Bt43.5 billion, and floorplan loans of Bt62.1 billion.

On the domestic car market, KResearch expects between 980,000-1,010,000 vehicles will be sold this year, shrinking by 2-5 per cent when compared to 2018, adjusted toward normalcy after a rapid surge in the previous year. 

Eco-cars are seen to have bright prospects. The March general election and expanding public investment should also contribute to a growing pickup market in Thailand, the bank said.

Sasawat said: “KLeasing will continue to penetrate the auto financing market in 2019 by focusing on digital innovations for all types of auto loans and using KBank’s strengths in service networks and customer base to expand our online and offline businesses. 

“Such attempts are aimed at offering auto loan products that meet the lifestyle needs of our customers, who use digital technologies in their daily life. KLeasing will also improve various platforms to offer more convenience for our clients and provide auto financing products and services to meet their needs by taking into account their ability in making instalment payments, our credit approval and after-sales service.”

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