Mr. Congsin Congcar, Head of Krungsri Auto Group, Bank of Ayudhya PCL., revealed that, "Building on our achievements in 2023, Krungsri Auto has maintained its leadership in the auto finance market and reinforced its position beyond auto finance. Over the next three years, we aim to capitalize on the vast potentials of digital channels and EV segment, as well as exploring opportunities arising from changes in the economy, consumer behaviors, and organizational management. As a leading automotive finance service provider committed to Krungsri Auto's Responsible Lending practice, we are dedicated to fostering sustainable market growth and empowering our Krungsri Auto team through creating shared value (CSV). We are poised to become the no.1 choice for automobile users."
Krungsri Auto's 2024-2026 mid-term business plan under 'SEE Beyond' strategy consists of:
- Sustainability - Sustaining business growth through Krungsri Auto's Responsible Lending practice over the past 10 years, in line with Bank of Thailand's guidelines announced earlier this year. The approach follows the C-O-D-E principles: assessing customers' Capability to pay, presenting Offerings with transparency, proposing Debt restructure during crises, and providing Education for better financial understanding and excessive debt prevention. At the same time, Krungsri Auto also creates learning opportunities in financial education and management for automobile users and promotes auto finance and motor insurance knowledge through One Retail and Krungsri Group's platforms.
- Auto User Ecosystem Connectivity - Becoming an aggregator of automobile user ecosystem through an all-in-one-lifestyle platform. This platform combines a robust network of more than 100 partners with a 3.3-million automobile user base in Thailand to generate new income from innovative digital services on GO by Krungsri Auto application. Initiatives include GO Travel - a collaboration with the Tourism Authority of Thailand (TAT) offering domestic travel incentives to automobile users, EV Station - supporting the clean energy adoption with 5 EV charging partners across the country, and E-marketplace - facilitating the buying and selling of automobiles through Auto Station and EV products through LINE Official Account, enabling direct contact between sellers and buyers.
- Empowerment - Enhancing the capability of 5,000 employees to drive organizational success through skill advancement, fostering an open-door culture, and providing an attractive employee value proposition. As a responsive organization that empowers its Winning Team through swift decision-making process, Krungsri Auto consistently delivers a desirable brand experience with innovative product and service solutions to all customers and automobile users.
"This year, Krungsri Auto aims to support Thailand's automotive finance market growth with new lending volume at 219,636 million baht and a 5% increase in Net Earning Assets (NEA) at 466,577 million baht, reinforcing our mission to create a better everyday life for automobile users," Congsin concluded.
Source: FleishmanHillard