ข่าวประชาสัมพันธ์เศรษฐกิจ/การเงิน

Krungsri Auto announces first-half result of 391 billion baht in loan portfolio Reaffirming its commitment to upholding portfolio quality for sustainable growth

          Mr. Pairote Cheunkrut (right), Head of Krungsri Auto Group, Bank of Ayudhya PCL, Mrs. Kittiya Srisanit, Managing Director, Ayudhya Capital Auto Lease PCL, and Mr. Pinyo Chantasuwan, Executive Vice President, Head of Krungsri Auto Sales and Distribution Division, Bank of Ayudhya PCL
          Bangkok, 2 September 2019 – Krungsri Auto, a leader in automotive finance under Bank of Ayudhya PCL, announced its half-year performance with the robust 11% growth in loan outstanding, valued at 391 billion baht. The auto finance provider aims to partner with lifestyle brands and scale up its digital lending for seamless experiences. In driving its portfolio to reach 400 billion baht within this year, Krungsri Auto remains committed to delivering sustainable growth through its Responsible Lending practice and providing customers with comprehensive consultations.           
          Mr. Pairote Cheunkrut, Head of Krungsri Auto Group, Bank of Ayudhya PCL, said, "Due to global economic uncertainties, Thailand's economy showed signs of a slowdown during the first-half. These heightened risks negatively affected consumer confidence, resulting in the relatively modest expansion of new car sales and the 1% contraction of the auto finance market. However, Krungsri Auto successfully maintained its solid performance with 104.4 billion baht in new lending volume, a 2% year-on-year increase, while its loan outstanding reached 391 billion baht, up 11% from the same period last year. Our NPL also remained below the market average at 1.76%."
          "The impressive results were primarily driven by competent and comprehensive loan portfolio management, which contributes to Krungsri Auto's firm leadership in the overall auto finance market. Additionally, we have worked closely with our manufacturer and dealer partners while implemented the digital auto lending innovation Krungsri Auto PromptStart to better answer modern consumers' lifestyles. Such strategies enabled us to meet our growth targets amidst the weakening economy in the first six months of 2019," added Mr. Pairote.
          In the second half, although Thailand's economy will still be hampered by global trade disputes, Krungsri Auto forecasts improvement in public expenditure and private investment. The Bank of Thailand's policy interest rate cut is also expected to stimulate the overall economy. Krungsri Auto, therefore, projects new car sales to reach 1 million units by the end of 2019, an increase of 3% from last year.
          Mr. Pairote further stated, "As a provider of auto finance, which is among the main segments of consumer loans, Krungsri Auto is committed to the Responsible Lending practice. To assure that customers' installment obligations will not adversely impact their financial security, we put great emphasis on providing loan offerings that are in line with each customer's capability to pay and ensuring that customers are given well-rounded financial advisory from our employees. Most importantly, Krungsri Auto fully complies with regulatory measures and does not encourage unnecessary debt." 
          "To drive sustainable business growth, our key focus is on maintaining the quality of the loan portfolio and answering automobile users' needs through the business model 'Krungsri Auto Ecosystem.' We plan to collaborate with lifestyle partners on privilege programs and mobility services. Moreover, we will unveil a major upgrade in our loan application process to provide customers with a more seamless digital lending experience. We are positive in achieving our 2019 targets of 400 billion baht in loan outstanding, an increase of 9%, and 199 billion baht in new volume, a 3% year-on-year growth while the NPL will remain below 2%," concluded Mr. Pairote.

          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.