12 February 2020
Bangkok (12 February 2020) –Krungsri (Bank of Ayudhya PCL and its subsidiaries), a member of Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest financial groups, announced 2020 business direction with three strategic thrusts focusing on enhancing customer experience through digital transformation, data-driven capabilities and partnership strategy. And to celebrate its 75th anniversary of sustained successes, Krungsri sets the goal to reduce greenhouse gas emissions by 7.5 million kgCO2e, underscoring the organization’s responsibility in climate change management.
Krungsri President and Chief Executive Officer Mr. Seiichiro Akita said, “Notwithstanding numerous challenges facing the banking sector in 2019, we delivered remarkable performances measured by both financial and ESG metrics, namely the healthiest loan expansion and strongest asset quality compared to D-SIB peers, as well as an inauguration of the first private sector gender bond not only in Thailand but also in the Asia Pacific.”
For 2020 which is the last year of its current medium-term business plan, Krungsri will continue to advance toward becoming the top tier bank in Thailand, supporting by three key strategic thrusts across business segments, namely 1) Enhancing Customer Experience 2) Utilizing Data Driven Capabilities and 3) Focusing on Partnership Strategy.
“Digital game changing through both products and processes innovation and services enhancements will be our 2020 strategic priorities. In particular, our prioritized initiatives will center around the establishment of value-added ecosystems for our customers, including car user, home buyer, and SME ecosystems.” Mr. Akita added.
Aiming to contribute to the development of a sustainable society and linked to its ESG mandate, Krungsri has launched several business initiatives to support sustainable growth of local communities through digital innovation and financial inclusion. And to commemorate its 75th anniversary, Krungsri sets the goal to reduce greenhouse gas emission 7.5 million kgCO2e throughout its operations including product and service offerings in support of Thailand’s transition toward the low carbon economy.
In 2020, Krungsri expects to grow the loans in range of 5-7%, while the targeted net interest margin is at 3.4-3.6%. The non-interest income growth is expected to be in range of -3% to 3% and the NPL ratio will be lower than 2.5%.