Thursday, August 13, 2020

‘Signs of recovery’ in business sectors, says Krungsri

Jul 16. 2020
Pornsanong Tuchinda, Krungsri Head of Commercial Banking
Pornsanong Tuchinda, Krungsri Head of Commercial Banking
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By The Nation

Krungsri (Bank of Ayudhya) has reported signs of recovery among some of its business customers.

The bank said it had so far provided debt payment holidays to more than 8,800 customers for outstanding loans worth Bt200 billion, while rolling out government soft loans worth Bt19 billion to more than 6,300 SME customers to help boost their liquidity.

Krungsri’s head of Commercial Banking Pornsanong Tuchinda reported that some of the bank’s business customers were bouncing back after the virus crisis.

“The healthcare sector has potential for faster recovery than other sectors due to growing health concerns, especially businesses related to hygiene and germ-prevention products. Meanwhile, our customers in the food sector are also recovering as they have adapted new distribution channels for delivery services. On the contrary, tourism and tourism-related sectors, such as airlines and hotels, have been severely affected by the lockdown measures and will take longer to recover. Therefore, the bank will keep a close watch and provide appropriate assistance measures to these sectors,” he said.

Krungsri’s commercial banking group has classified business customers into three groups: unaffected customers, for which the bank is providing additional loans; slightly or moderately affected customers, for which Krungsri is extending debt repayment periods, reducing interest rates and providing soft loans; and severely affected customers, who are being offered debt restructuring and soft loans to help keep them afloat through the virus crisis.

Krungsri said it will focus on offering total financial solutions to support liquidity and risk management in the second half of 2020 for businesses it called the backbone of the economy – food and beverage, healthcare, and tourism and hospitality, as well as infrastructure-related industries and investments in Eastern Economic Corridor (EEC).

“Krungsri continues to support customers with Krungsri Business Empowerment, knowledge-sharing and business networking activities via exclusive online platforms, which customers can access from anywhere,” Pornsanong added.

In the second quarter of this year, Krungsri organised a series of online seminars for its commercial banking customers. The bank is also organising Krungsri Virtual Business Matching from July 8-22, an online business matching activity to connect SMEs with large corporate customers. Meanwhile, it will launch Krungsri-MUFG Virtual Business Matching at the end of 2020 to create opportunities for business customers to link with Japanese and Asean companies. In addition, the annual “Krungsri Business Forum 2020 – Business Under Uncertainties”, will be held in late 2020, to share insights and perspectives on doing business in difficult times.

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