Mr. Pornsanong Tuchinda, Krungsri Head of Commercial Banking said, "In the challenging year of 2020 due to the COVID-19 outbreak, Krungsri stood by as a banking partner, ready to provide supports to affected customers through several proactive measures, e.g.debt restructuring, loan payment holiday, and soft loans for SMEs. Even in the extremely fluctuating and challenging situation, the commercial banking group still grew with an outstanding balance of over 632 billion baht and a deposit balance of over 363 billion baht. This reflects customers' trust in Krungsri."
The Commercial Banking Group will empower the business with three main strategies which include:
- Commercial business enhancement through creation of digital platforms to strengthen the business chain and coordination of mutual benefit of each customer group, using MUFG's strong capability in data analysis and network to extend business opportunities to more parties in the business chain.
- Ecosystem and new partnership building to better and comprehensively satisfy the commercial banking customers' needs.
- Business expansion to ASEAN to provide new business opportunities to Thai commercial banking customers in the ASEAN market.
He added, "This year, Krungsri is still moving towards becoming a trusted banking partner for corporate banking and investment banking customers and to be the main bank for SMEs by emphasizing on continuously giving aid to customers in all industry groups in every situation, along with maintaining strong asset quality, and stressing and supporting environmental, social and governance principles (ESG) by developing financial products for ESG-related businesses, particularly instruments for fundraising by issuing debentures, e.g. sustainability, green and social bonds, and by providing loans in consideration of ESG, such as Sustainability-Linked Loan (SLL), as an option for Thai commercial banking customers, where Krungsri will integrate MUFG's expertise and global network with Krungsri's distinguished strengths.
Moreover, Krungsri is continuously going forward with creating added value for customers through Krungsri Business Empowerment, aiming at knowledge sharing, business matching, and activities that create networks and enhance business opportunities, both in the country and abroad. The service will help enable the commercial banking customers to build on their businesses and create long-term strength to be prepared to handle the changing future. This year, Krungsri continues to organize a series of Krungsri Business Virtual Seminar or Krungsri Business Virtual Matching for businesses in the country and ASEAN to correspond with the uncertain environment resulting from the COVID-19 outbreak."
About Krungsri
Krungsri (Bank of Ayudhya PCL and its group companies) is the fifth largest financial group in Thailand in terms of assets, loans, and deposits, and one of Thailand's five Domestic Systemically Important Banks (D-SIBs) with 75 years of history in the country. Krungsri is a strategic member of the Mitsubishi UFJ Financial Group (MUFG), Japan's largest financial group and one of the world's largest financial organizations. Krungsri provides a comprehensive range of banking, consumer finance, investment, asset management, and other financial products and services to individual consumers, SMEs, and large corporations through 670 branches (631 Banking Branches and 39 Auto Business Branches) and over 33,431 service outlets nationwide. The Krungsri Group is the largest card issuer in Thailand with 9.5 million credit cards, sales finance, and personal loan accounts in its portfolio; a major automobile financing service provider (Krungsri Auto); one of the fastest growing asset management companies (Krungsri Asset Management); and a pioneer in microfinance (Ngern Tid Lor PCL).
Krungsri is strongly committed to the highest level of integrity in conducting its business. All Krungsri Group companies have been awarded accreditation from the Private Sector Collective Action Coalition Against Corruption (CAC) in collaboration with industry peers and stakeholders on a zero tolerance approach to corruption.
About MUFG (Mitsubishi UFJ Financial Group, Inc.)
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world's leading financial groups. Headquartered in Tokyo with over 360 years of history, MUFG is a global network with over 2,700 locations in more than 50 countries. The Group has over 180,000 employees, and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to "be the world's most trusted financial group" through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG's shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.
Source: Bank of Ayudhya