Krungsri continues to support Thai SMEs

5 April 2023

  • Emphasizes 3 strategies: meeting the needs, catching up with trends, convenient and fast
  • Ready to stay alongside every step of the way towards sustainable growth

Bangkok (5 April 2023) - Krungsri (Bank of Ayudhya PCL) reveals that, in 2023, its SME Banking Group is fully committed to continuously support the business operations of customers and ready to carry on the commitment to be a trusted partner in every step with Thai entrepreneurs. To fulfill such commitments, priorities are given to the three key strategies of Make Life Simple with 3P that emphasize in-depth understanding and meeting the needs of diversified businesses; offering the right solutions catering to customers’ needs in order for the business to grow in tandem with the global trends; and delivering best customer experiences with simplicity, convenience and speediness to enable customers to capture the opportunity and grow their business as well as helping the businesses become stronger and adapt to achieve sustainable growth.

Miss Duangkamol Limpuangthip, Krungsri Head of SME Banking Group, said “In 2022, Krungsri continuously implemented direct and indirect policies to provide solutions for the small and medium-sized (SME) customers who had been affected by COVID-19 through various proactive measures. We supported business growth of SMEs through a comprehensive range of financial products and services as well as organizing activities for the purposes of knowledge sharing and creating inspiration for entrepreneurs. Especially, we continued to constantly enhance the capacities and opportunities for business expansion through the domestic and global network of MUFG. Amid the economic challenges in the previous year, Krungsri was able to achieve the target of SME loans. The SME loans grew by 5.4% in 2022 over the prior year to register at 296,000 million baht.”

As for the business direction and strategies in 2023, Krungsri is ready to keep on driving the SME sector of Thailand towards sustainable growth under the strategy of “Make Life Simple with 3P” by delivering simplicity which is the core value of Krungsri’s operations through the “3Ps” strategies comprising Portfolio, Products and Platform that meet the needs of SME customers, enable them to grow in tandem with the changing trends, and make all transactions convenient and fast, in order for customers to capture the opportunities and grow their business successfully. Details of these strategies are as follows.
  • Portfolio: We aim to conduct in-depth analysis for the business of each customer and create a more distinctive customer segmentation so as to offer the right solutions that cater to the needs of customers according to the growth characteristics of each business type and industry. Also, the Bank’s relationship managers who are specialized in particular fields of business will provide fully-integrated advisory service pertaining to business operation and financial innovation as well as connecting with partnership network to offer knowledge and information concerning trading requirements both domestically and globally.
  • Products: The Bank places focus on offering financial products that fulfill the needs and help develop the business of customers to grow in tandem with the global trends. These products include ongoing assistance for business revival provided to customers who are affected by COVID-19 and innovative financial solutions that serve the digital trends to increase customer convenience and enhance business efficiency. The Bank also provides sustainability-linked loans and develops financial products that support environmentally-friendly operations as well as giving advice and synergizing with partners in extending knowledge about doing business for sustainability which cover all the three dimensions of environment, society and governance (ESG). This year, Krungsri has launched Krungsri ESG Awards 2023 to encourage business customers to advocate for ESG principles and adopt ESG business practices in their operations to generate constant and practical business benefits.
  • Platform: Transactions made by customers are facilitated via the channel of Krungsri The Living Room, a complete online transaction service for SME customers that integrates relevant financial services and innovative solutions of Krungsri such as Krungsri Biz Online, Krungsri Business Link, Krungsri Digital Supply Chain, E-FX Confirmation, etc., in one platform to allow customers manage their transactions more simply and faster.

“This year, the economic activity of Thailand is likely to return to or exceed its pre-pandemic level which is favorable for SME business. However, there remain a number of challenges that need caution especially during the transtional period. The key componet for doing business is learning how to adapt and create the business opportunity that is always conform to the mraket. Krungsri is commited to stay by the side of Thai SME entreprenuers in supporting and fostering the capability of adaptation to ensure catching up with the ever changing technology, consumer behaviors and global trends. This will enhance the competitive competency to correspond to the context of current and future economy as well as driving SME business towards sustainable growth. We set the target of SME loan growth rate at 4% which is in line with the economic direction of Thailand this year,” Miss Duangkamol concluded.
Press keyword to search