Bangkok--23 Mar--FleishmanHillard
Krungsri Auto, a leader in automotive finance under Bank of Ayudhya PCL, today announced its 2019 performance with 14% growth in loan outstanding, valued at 418 billion baht. To maintain sustainable growth, the automotive finance service provider reaffirms its commitment to responsible lending practice, enhances its ecosystem, and uplifts its employees’ skills as financial advisors for customers, to reinforce its promise to support customers regardless of circumstances. Krungsri Auto targets to reach 448 billion baht in loan outstanding, with 7% year-on-year growth.
Mrs. Kittiya Srisanit, Head of Krungsri Auto Group, Bank of Ayudhya PCL, said, “Despite sluggish new car sales during the last few months of last year, Krungsri Auto achieved a strong performance in 2019, with new lending volume of 216.5 billion baht, a year-on-year increase of 12%, and loan outstanding valued at 418 billion baht, rising by 14%. Such results were propelled by a balanced portfolio management across all segments and constant development of automotive lending innovation.”
In 2020, Krungsri Auto aims to continue delivering comprehensive auto finance solutions that effectively answer all automobile user lifestyles and drive sustainable growth through three key strategies: Responsible Lending, Krungsri Auto Ecosystem, and Financial Advisor.
“Amidst the currently volatile economy, Krungsri Auto is determined to support all customers and business partners along with maintaining a prudent credit process to ensure market stability. We remain committed to our Responsible Lending practice throughout our operations, from transparent information disclosure, suitable loan offerings, to constant communications during the repayment period. For customers who have been affected by the outbreak of Coronavirus Disease 2019 (COVID-19), we have announced relief measures by introducing a grace period on repayment up to six months and reducing installment amount. We will be providing additional proactive assistance measures with a focus on liquidity and loan restructuring, in compliance with the Bank of Thailand’s policy,” added Mrs. Kittiya.
The automotive finance service provider also emphasizes on fulfilling the Krungsri Auto Ecosystem. After establishing the foundation through continuous expansion of service channels, both offline and online, Krungsri Auto intends to answer automobile user lifestyles by collaborating with partners across different industries, enhancing data analytics capability, and creating a single platform for relatedinformation and services. Set to be unveiled soon, the platform promises to provide a convenient, fast, and seamless experience for automobile users.
In addition, Krungsri Auto aims to strengthen the potentials of its employees throughout the lending process by empowering them to become financial advisors. They will be equipped with advanced skillsets and knowledge, including the use of digital technology for data analytics, the expertise in the end-to-end lending process, and the consultancy on suitable loan offerings as well as a customized financial plan for each individual customer, to reinforce Krungsri Auto’s promise to support customers regardless of circumstances.
“With the three strategies, Krungsri Auto strongly believes that our business will sustain steady growth. We target to achieve loan outstanding of 448 billion baht by the end of 2020, a year-on-year increase of 7%, and remain committed to ensuring the stability of the country’s lending market,” concluded Mrs. Kittiya.
The New Experience with Krungsri Auto
Krungsri Auto, a leader of automotive finance business under Krungsri, offers a variety of loan services, including “Car for Cash”, “Krungsri Rod Baan”, “Krungsri New Car”,“Krungsri Used Car”, and “Krungsri Truck” operated by Krungsri Auto Group, Bank of Ayudhya Public Company Limited, “Krungsri Motorcycle”, “Krungsri Big Bike”, “Krungsri Used Big Bike” “Car for Cash Motorcycle” “Krungsri Inventory Finance” as well as insurance services by “Krungsri Auto Broker”, operated by Ayudhya Capital Auto Lease Public Company Limited.
Customers can access these financial services through Krungsri Auto’s 52 branches and the Bank of Ayudhya’s branches nationwide, and Krungsri Auto Call Center (tel. 02-740-7400, press 1. Visit www.krungsriauto.com or www.facebook.com/krungsriauto for more details.