Bangkok--8 Oct--ABM
Thai Credit Retail Bank (TCRB), a specialist in the Micro Segment and the only Thai Bank committed to being an alternative bank of choice offering access to financial products and services to Nano and Micro SME owners nationwide, is gearing up to elevate its brand profile and expand its reach to a greater number of Micro Segment customers. TCRB offers innovative products and services designed to meet the needs of small businesses and entrepreneurs throughout the country under its vision of being "The Best Micro Bank in Thailand."
TCRB serves micro and nano customers to improve their businesses and cash flows, and not for consumptive purposes. The branches are located within the traditional markets where small business owners can easily access them. TCRB is a fully licensed micro and nano lender under the supervision of the Bank of Thailand.
TCRB has two main customer segments. The first--TCRB's main customer segment--is Nano Entrepreneurs. These are Mom and Pop entrepreneurs who operate small shops selling fresh produce from farmers to consumers in the traditional markets. They are daily earners who form a low-cost distribution network serving a community's consumers for whom a visit to the traditional market is part of their daily lives.
Nano Entrepreneurs have run their businesses for many years and are an integral part of their communities. Although they are not rich, they have a basic education, are hardworking and productive member of the community. However, they face many financial challenges such as cash flow shortfalls, loss of income when they fall ill, and unplanned instances when their family needs money. They are often underserved or rejected by formal lenders, and many of them resort to loans with high fees and high interest rates or loans from informal lenders and loan sharks.
TCRB's second customer segment is Micro SMEs. They are classified as Advanced Micro Business owners with specialized expertise and brick and mortar shops outside of traditional markets, such as pharmacies, small clinics, and retailers of small goods. Typically, they are family businesses that conduct cash-only transactions, with opaque credit histories and no real financial statements. They aspire to improve their businesses but have limited access to financial products and can face cash flow challenges from time to time.
Mr. Winyou Chaiyawan, Chief Executive Officer of Thai Credit Retail Bank, said, "Millions of nano and micro businesses form the backbone of the Thai economy. They are hardworking people who aspire to give their families a better life. They often do not have strong financial records. This is why they use informal lending channels such as loan sharks and pawn shops, or borrow from friends and family, simply because the formal banking system ignores or rejects them. Many of our customers apply for loans from TCRB to pay back the informal lenders."
Mr. Roy Agustinus Gunara, Managing Director, encourages all good micro business owners who need to improve their business or cash flow to apply for micro and nano credit at TCRB branches. We have more than 300 branches nationwide and we provide loans without the need for guarantors or collateral. The loan process is easy and transparent. Customers are always given a receipt and SMS confirmation for all payments so they can keep a detailed record of their loan. TCRB's Relationship Managers (RMs) are always nearby to visit customers, so they do not have to waste time coming to the branch.
"We understand that our customers usually cannot leave their shops, so our RMs will visit and evaluate their business needs and customer's ability to pay before granting the loan. We have a strict policy not to increase the burden for customers that could result in more financial problems. At TCRB, we strive to ensure our customers' peace of mind," he said.
Mr. Gunara added that TCRB is gearing up for greater growth by reaching out to even more under-served customers across Thailand who can benefit from the Bank's approach. TCRB currently has more than 300 branches and will expand its network to more than 500 branches in 2019 which all the Bank's RMs will also be ready to serve.
"Today, TCRB is launching our brand-building campaign to reach out to more Nano Entrepreneurs and Micro SME owners. The campaign includes a new TV commercial called "No one sees, we see" and we have also introduced a CSR project for the Micro Segment called 'Smart micro customer: hardworking, savings with discipline.' It provides financial literacy training to Nano Entrepreneurs so they can prosper, giving their families a better life," concluded Mr. Gunara.
TCRB was awarded the Fastest Growing Retail Bank Thailand 2017 and 2018 from Global Banking & Finance Review, the leading financial and business magazine from the UK, due to the Bank's outstanding net profit growth of over 100% for four years from 2014 to 2017.