Jeffrey V. Fallis 
KTC optimistic about big profits for this year
Lender turns to new businesses in S
Mr Rathian, centre, says the ambitious lending target should be backed by major shareholder KTB, especially for loan application channels in physical branches and digital platforms.
Krungthai Card Plc (KTC), a non-banking company of the Krungthai Bank (KTB) group, hopes to make strong profits this year, supported by its new S-curve business.
KTC P Berm offers car titles and auto leasing loans as part of its focus on S-curve services. Auto title loans have high growth potential, said chairman and CEO Rathian Srimongkol, after the company launched KTC P Berm in September 2020.
He said the company had adjusted the KTC P Berm loan growth target for 2022 to 11.5 billion baht from the previous target of 2.2 billion.
The ambitious goal is expected to be supported by the company’s largest shareholder, KTB, including through loan application channels from physical branches and digital platforms, Rathian said.
Customers can apply for a KTC P Berm loan at KTB’s 990 physical branches nationwide.
The company is also in the process of offering KTC P Berm through KTB’s mobile banking app, Krungthai Next.
KTC intends to offer KTC P Berm loans to users of Pao Tang, the mobile application developed by KTB. Pao Tang app has about 34 million users.
KTC P Berm covers two car loan products: car title loans and car lease loans.
Auto title loans are the primary focus, accounting for 80% of its total auto loan portfolio, with the remaining 20% being auto leasing loans.
The company has extended the maximum credit line for car title loans from 700,000 baht per borrower to 1 million baht depending on the customer’s risk profile.
Of the total KTC P Berm loan applications, car title loans make up 80% and car lease loans the rest.
In addition, Rathian said MAII by KTC, its digital platform to promote engagement between customers and partners, is another new S-shaped business that is supporting the company’s revenue.
For this year, MAII is aiming for 1 million members and expanding its number of business partners by 10.
Given the new focus on the S-curve, the company expects 2022 to be another year of strong earnings, following the trend of recent years.
For the first nine months of 2021, KTC posted a net profit of 4.63 billion baht, compared to 4.01 billion in the same period the previous year.
