Bangkok--25 Aug--Aziam Burson-Marsteller
KRUNGSRI Auto, a leading automotive financial solutions provider that offers customers a wide range of products and services, announced NEAs (net earning assets) grew 12%, achieving a NEA of over 100 billion baht driven by the Smart Growth strategy. Its newly issued loans grew 52% to 32 billon baht in the first half of 2010. The company has reinforced the KRUNGSRI Auto brand’s leadership, to expand in all sales channels and reach all consumer segments while expanding its customer base by over 100,000 persons.
According to Pairote Cheunkrut, Managing Director, Ayudhya Capital Auto Lease plc., or KRUNGSRI Auto, which provides a comprehensive auto loan portfolio, during the first half of 2010, KRUNGSRI Auto had released a total NEA of 106 billion baht, up 12% from the same period of last year and 32 billion baht in new loans, up 52% from the same period of last year.
“This strong performance was mainly attributable to the growth of the auto industry growth this was in line with our expectations. We have set up and implemented the right business strategy, called Smart Growth, to increase auto loans in all market segments, especially in the new car loans and refinancing,” said Mr. Pairote.
“The Smart Growth strategy consists of four core strategies which are: 1) to strengthen the “Krungsri Auto” brand and reinforce core product brands through appropriate and impactful communications; 2) to expand our distribution channels and maximize existing distribution channels by using technology and related research: upgrading the branches to provide One Stop Service and using new technology including ADI: Auto Distribution Intelligence for 34 branches to approve applications faster, moreover offering customers the convenience of a home ‘Delivery’ service; 3) To differentiate through innovative new product and service offerings which will be launched in the second half of this year; 4) To encourage customer centricity and standardize customer services by corporate staff under the ‘CARE’ program that encompasses customer focus, ability, responsibility and express services. With these supporting factors, our customer base in both Bangkok and upcountry grew and currently has the proportions of 40% in Bangkok and 60% upcountry,” stated Mr. Pairote.
“In mid-2010, KRUNGSRI Auto celebrated its success in achieving a NEA of more than 100 billion baht. This was what we set as our year-end goal. The unique achievement was supported by our solid core attributes in all areas of operation including comprehensive products that meet the demands of all target groups, quality services that focus on staying with our customers during the ups and downs of their lives, strong marketing and highly experienced staff with top quality risk management. With our four unrivalled features, we have been highly accepted as the leader in comprehensive auto financing and market shaper who has been trusted by customers and business partners. We expect 17% growth of our NEA compared with last year by the end of the year and we believe we can hit this target,” concluded Mr. Pairote.
About Ayudhya Capital Auto Lease PLC
Ayudhya Capital Auto Lease PLC or KRUNGSRI Auto, is a subsidiary of Bank of Ayudhya. KRUNGSRI Auto is a leading total automotive financial solutions provider offering comprehensive products and services that best suit the needs and requirements of auto and motorcycle manufacturers and dealers, corporate customers and consumers. In 2009-2010, the company has got the A+ from the TRIS Rating. The financial solutions offered include “KRUNGSRI Car for Cash”, the financing for auto owners who want cash with their autos as the collateral; “KRUNGSRI Cash to Car”, a financial product for second hand cars, available to those who want to buy a used car directly from the owner; “KRUNGSRI Motorcycle Credit”, a financial solution for motorcycles; “KRUNGSRI New Car”, a financial solution for new autos; “KRUNGSRI Used Car”, a solution for used cars; KRUNGSRI Fleet & Leasing, a financial offer for autos bought for corporate use and “KRUNGSRI Inventory Finance”, a financial solution for auto dealers. Currently, KRUNGSRI Auto operates through its 34 branches and all Bank of Ayudhya branches nationwide. Interested customers can contact KRUNGSRI Auto Call Center Tel. 0-2740-7400 or www.krungsriauto.com for the home delivery service of auto price appraisal and others.
For further information, please contact:
Ayudhya Capital Auto Lease plc
Thitipa Laxanaphisuth, Tel. 02 627 8930 Email:
[email protected]
Aziam Burson-Marsteller
Hongsinunt / Piyanuch / Satida
Tel. 02 252 9871
Email:
[email protected]