Bangkok--22 Feb--Siam Commercial Bank
Siam Commercial Bank (SCB) is announcing its SME lending strategies for 2011, highlighting a diverse range of innovative credit programs and attractive promotional campaigns all year round. SCB will help enhance SME potential and promote a strong SME network, backed by a team of expert relationship managers to care for clients. The Bank is also introducing two new credit programs: “SCB SME Venture” and “SCB SME Business Expansion”, to unlock SME potential with tailored-made programs answering the real needs of SMEs.
SCB Senior Executive Vice President Sirichai Sombutsiri noted that since an SCB management reorganization in mid 2010, its SME loan portfolio has shown steady growth, with total lending growth of or 19% or 25 billion baht — up from 132 billion baht at the end of 2009 to 157 billion baht last year. Lending to small businesses showed the highest growth. This satisfactory growth rate is in line with the Bank's goal of being among the top three market leaders within three to five years. For 2011, SCB is setting a target for SME lending growth of 43 billion baht, or 27% of 157 billion baht in 2010. By the end of this year, the Bank expects to see a total SME loan portfolio of 200 billion baht.
As for its SME lending business plan, SCB's strategy is to focus on brand-new innovative lending products to beat market constraints, so as to offer clients beneficial products that truly respond to their needs. To boost lending growth, attractive promotional campaigns will include quarterly lucky draws, rewards, and privileges. On the client side, SCB will promote more intensive business management knowledge and networking for SME clients through SME potential development programs all year round, including the SCB SME — Young Entrepreneur Program (YEP) and the SCB SME — Intelligent Entrepreneur Program (IEP). No less important is SCB's in-house program of People Potential Development to hone staff expertise, insight, and understanding of clients' needs and businesses.
Among the new product programs is “SCB SME Venture”, a credit program tailored for small businesses (those with annual sales ranging from 10-75 million baht). The “SCB SME Venture” credit program features three attractive offers, namely, 1) a credit line up to twice the Loan to Appraisal Value (LTAV) with a waiver of annual guarantee fees with the Small Business Credit Guarantee Corporation; 2) an interest discount up to 0.50% per annum for on-time repayments for 2 years. Regarding interest discounts, for on-time installment payments 1-12, SCB will offer a first discount of 0.25% for installments 15-26. For on-time installment payments 13-24, SCB will offer another discount of 0.25% for installments 27 onwards until the end of the loan period. Last but not least, with a loan period of up to 7 years, clients can conduct their business at ease, without worrying about an inadequate credit line or fee concerns.
The other featured program is “SCB SME Business Expansion” for medium-sized enterprises (those with annual sales ranging from 75-500 million baht). This credit program offers a credit line up to 300 million baht and a repayment period of up to 10 years at a flat or floating interest rate.
For more information, entrepreneurs can call the SCB Business Call Center at 0 2722 2222.
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