Bangkok--23 Feb--Aziam Burson-Marsteller
Krungsri Auto, a leading automotive financial solutions provider, has set a 2010 target of over 100 billion baht, a 7% increase in its loan portfolio. The company will broaden its businesses through its unique “Smart Growth” strategy to reinforce the Krungsri Auto brand and expand all distribution channels as well as launch new products to reach all consumer segments.
Mr. Pairote Cheunkrut, Managing Director, Ayudhya Capital Auto Lease PLC, or Krungsri Auto, announced the company’s 2010 business direction. He stated, “We are optimistic about economic growth in 2010 with increasing auto sales. We aim to extend the growth of auto loans by 7% with our loan portfolio of over 100 billion baht and have a total of over 600,000 customers with an increase of over 250,000 new customers. Krungsri Auto will use our ‘Smart Growth’ strategy to drive business success. The strategy consists of four core strategies as follows:
1) To strengthen the “Krungsri Auto” brand, as a leading automotive financial solutions provider and reinforce core product brands, ‘Krungsri Car for Cash’, ‘Krungsri Used Car’ and ‘Krungsri Cash to Car’;
2) To expand our distribution channels, including maximize existing distribution channels and expanding potential channels in partnership with current and new partners;
3) To differentiate through new innovative product offerings that will respond to all customers’ needs for auto loans, reinforcing Krungsri Auto as a market shaper;
4) To encourage customer centricity and standardize customer services by corporate staff under the ‘CARE’ program to provide increased customer satisfaction.”
Krungsri Auto will use the Smart Growth strategy based on a Responsible Lending scheme, which is the company’s policy and part of its sustainable growth and CSR principles.
“We see significant growth in the 2010 automotive market, so Krungsri Auto will focus on loans and sales promotion activities related to this growing market. In addition, the company will provide customers with access to all Krungsri Auto total solutions through 34 Krungsri Auto outlets and 576 branches of Ayudhya Bank throughout the country, over 1,400 sales representatives, online service via www.krungsriauto.com, and the Krungsri Auto Call Center on 0-2740-7400,” said Pairote.
In 2009, Krungsri Auto faced the economic slowdown and high economic uncertainty with negative growth in the auto segment. However, the company successfully grew its operations with total loans of 98.903 billion baht, a 1% increase. These achievements were mainly attributable to the continued expansion of its business lines, efficient risk management, streamlined operating procedures and service upgrades. The year 2009 was the first for the company to operate additional sales channels via the solid network of Ayudhya Bank’s branches nationwide. As a result, Krungsri Auto can reach and serve more customers around the Kingdom.
For further information, please contact:
Ayudhya Capital Auto Lease plc
Thitipa Laxanaphisuth
Tel. 0-2627-8930 Email:
[email protected]
Bank of Ayudhya Plc
Yaowalak Poolthong, Ph.D.
Head of Corporate Communications and IR
Bank of Ayudhya Pcl.
Tel: 02 296 2443, 02 296 3729, Fax: 02 683 1473
Email:
[email protected]
Aziam Burson-Marsteller
Tel. 0-2252-9871 Email:
[email protected]