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Cyber Police Arrest Loan Shark, Seize Over 3 Million Baht
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Krungsri’s card charge: Loan surge despite economic strain
The unsecured loan arm of Bank of Ayudhya, Krungsri Consumer, is predicting a spike in credit card loans in the second half of the year, despite the economy limping along and new rules raising the minimum payments. Currently, Krungsri’s non-performing loan (NPL) rate is a lowly 1.4%, far better than the industry average of 2.9%. Atis Ruchirawat, head honcho at Krungsri Consumer Group, blames economic woes and new regulations for the dip in loan quality. Earlier this year, the Bank of Thailand slapped a higher minimum payment requirement on credit cards, bumping it from 5% to 8% of the total balance. While cardholders felt the pinch at first, things have now calmed down, said Atis. “We observed a rising trend in credit card NPLs starting from the second half of this year, and this is expected to continue until the end of the year. However, we anticipate the situation will remain manageable.” Atis stated that the company has been cautious in approving both credit cards and personal loans, aiming to align clients’ credit risk profiles with the economic environment. The approval rates for credit cards and personal loans are approximately 40% and 30%, respectively, a slight decrease from last year. Despite these challenges, Krungsri Consumer remains optimistic about achieving its business targets for the upcoming year, especially after a strong performance in the first half. The company acquired 287,000 new customer accounts in the first half, with a full-year target of 617,000 accounts, representing a 10% growth from the previous year. Personal loan portfolio This increase in accounts contributed to credit card spending reaching 189 billion baht, nearly half of the full-year target of 393 billion baht, which is an 8% increase from the previous year. Additionally, Krungsri Consumer expanded its new personal loan portfolio by 47 billion baht in the first half, up 6% year-on-year, targeting 100 billion baht for the year, a 9% gain from the previous year. The total outstanding unsecured loan portfolio grew to 140 billion baht in the first half, a 2% year-on-year increase. The full-year target is set at 151 billion baht, 2% higher than last year. According to Atis, the company has adjusted its business strategy to align with the economic environment over the next 12 months, focusing on three core areas: credit cards, personal loans, and instalment loans. The aim is to maintain a leading position in these segments through sustainable long-term growth, reported Bangkok Post. In addition, Krungsri Consumer is positioning itself as a payment facilitator by developing innovative payment systems, such as biometric payments, to align with digital era trends. The company is collaborating with hypermarket Lotus’s to test facial recognition payments in a pilot project. by Bob Scott Source: The Thaiger 2024-08-30 Get the ASEAN NOW daily NEWSLETTER - Click HERE to subscribe -
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Number of 401(k) ‘millionaires’ reaches new high
Involves Social Security ... 3rd rail so avoided in discussion. -
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Bangkok Prepares for Rising Waters: Governor Reassures Residents
Another Band aid, this is same same every year, no long term view ? -
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Former police chief and others arraigned in Red Bull hit-and-run
It will be good to punish the police who helped him get way. But what about the current police who know where he is and refuse to act? -
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Thai wife applying for UK spouse visa but has a job she’s quitting
Why should I be well aware of that ? Definitive statements are very rarely valid ? That's a pretty definitive statement in itself, isn't it ? And wrong, without evidence, of course. -
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Kamala Harris Why She Chose to Bring Tim Walz to Her First Major Interview
the thread isn't about Trump, plus he has dont 100's of live unscripted interviews. 2+ hours with musk. the thread is about Harris doing her FIRST interview in nearly a month. -
66,675
Worst Joke Ever 2024
I just got ripped off by a Chinese guy. This pan he sold me doesn't fly at all. -
1,165
Trump Just Pulled Out Of The Debate
And the facts to show what Harris has achieved as VP, what has she accomplished? As for your Biden facts above - heres one fact my US Trackers fund has lost 8% profit since Biden got in, so dont know where you get your facts from, mines in my pocket Real Life, -
66,675
Worst Joke Ever 2024
It's really difficult to find what you want on eBay. I was searching for cigarette lighters and found over 15,000 matches. -
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American Driver Arrested after Road Rage Incident in Wichit
Why do you need to ask that? We hear about one American here. As I know it´s not many times you read about same nationality doing this exact thing. After that, we have you question if it´s normal behavior from Thai´s. As the woman just took it easy and thought he was in a hurry, one might assume it´s normal. However, what is not normal behavior is road rage. Therefore that is something you read about both when Thai´s do it and when foreigners do it. No it´s not enough! Have you thought they looked at CCTV, before fining him? If not, maybe there were witnesses. However, do you consider it right to jump out of a car at a red light and in a fit of rage try and open another drivers door? To do what? Or, should he take the license plate and report a problem he had? After that, we have this from the article in Phuket Express: He claimed that the other car suddenly stopped, forcing him to brake abruptly, resulting in his wife bumping inside their vehicle. In anger, he got out of his car to confront the other driver. As he also stated he was driving his wife to hospital and it was an emergency, I just ask if the stated emergency, just went on a break as he he time to stop go out of car and try forcing himself into another car. If he had managed to open the door, wonder how long time it would have taken? Maybe long enough for an emergency to change to death or severe threat to life? When we sum this story up, with overtaking 2 times without signaling, stating an emergency, as well as in a fit of rage don´t give a rats arse about any emergency. Yeah, it fits the profile of a very unstable man. That was probably why the police fined him. -
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Suvarnabhumi Airport to handle 80 million passengers yearly by 2031
I thought Bangkok will be under water by then, will it be boats to Pattaya? -
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British yoga teacher stranded in Bangkok airport over passport tear
I fairly recently discovered Dante's long lost 10th circle of Hell - the transit procedure at Mumbai airport! The final "icing on a cake" was when I drained a glass of beer in the bar at the transit lounge and saw the state of the bottom of the glass - sure enough two hours later Gandhi's revenge set in! -
66,675
Worst Joke Ever 2024
My missus was so clever at school. She got more A's than a Scouser trying to break up a fight. -
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THAILAND LIVE Thailand Live Friday 30 August 2024
Fire at Foundry Injures 8 Workers in Samet Sakhon A fire broke out at a foundry in Samut Sakhon this morning, leaving eight workers injured. The incident occurred while workers were sculpting a statue of the deity Sun Wukong (Heng Jia) in preparation for casting. The fire quickly spread to a gas cylinder, leading to an explosion. Full story: https://aseannow.com/topic/1336838-fire-at-foundry-injures-8-workers-in-samet-sakhon/
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