Bank of Ayudhya launches “KRUNGSRI SME – Flexi Loan" Targeting retail SME customers segment, aiming to grow 8% in 2010
Bangkok, 22 February 2010: Bank of Ayudhya Public Company Limited (BAY) gears up for SME market growth as the Bank recently launches a new SME lending product “KRUNGSRI SME – Flexi Loan" targeting retail SME entrepreneurs. Benefits include customers can apply for an additional long-term loan from the paid installment, choose monthly repayment amount as they prefer, and be eligible for loan extension up to 10-year term. To reach targeted customers, BAY will take a full fleet of advertisement and marketing campaign launch.
Mr. Poomchai Wacharapong, Head of SME Banking, Bank of Ayudhya Public Company Limited (BAY) revealed that following the bank’s success in building strong foundation and expansive loan portfolio management in the past 2-3 years together with positive signs of economic recovery, BAY is ready to drive SME lending growth starting by introducing a new product called “KRUNGSRI SME – Flexi Loan" offering financial flexibility and convenience for both new and existing SME customers.
The bank is fully ready to serve customers with complete product package after its success in soft launch on “KRUNGSRI SME – Flexi Loan" last year. The bank had earlier tested this market which was well-received by customers, especially for existing customers, which they can apply for additional loan with no financial supporting documents required. In customers’ point of views, this special privilege offers a seamless process that can better support them with business flexibility.
Moreover, “KRUNGSRI SME – Flexi Loan" offers customers financial liquidity as well as business growth opportunity, which customers can apply for additional long-term loan (T/L) or short-term loan (O/D or P/N) options. In addition, customers can enroll for loan extension after 12-month repayment term. Apart from this special option, “KRUNGSRI SME – Flexi Loan" also provides ‘Step-down’ program which customers can select repayment amount reduction by 15% from the normal monthly settlement and option of maximum 10-year repayment. Also the payment holiday (in April and December) is available. This can increase flexibility for customers when necessary or in case of their businesses have been impacted by unexpected circumstance. Monthly repayment amount can be adjusted according to their income ensuring that SME customers are well prepared for any business circumstances.
The Bank has prepared 2 series of TVC for “KRUNGSRI SME – Flexi Loan" to create product awareness among the target group; which will be launched covering all media channels; newspapers, magazines and television advertising. The bank has strong confidence that “KRUNGSRI SME – Flexi Loan" will attract customers’ attention and gain product interest among SME entrepreneurs” added Mr. Poomchai Wacharapong, Head of SME Banking.
Bank of Ayudhya has aimed for SME growth of 8% or 13.6 billion baht in 2010 of which 2.5 billion baht is from “KRUNGSRI SME – Flexi Loan". Total SME lending in 2010 is expected at 18.3 billion baht.
For more information, please contact Bank of Ayudhya branches and KRUNGSRI Call Center 1572 or the bank website
www.krungsri.comABOUT BANK OF AYUDHYA PUBLIC COMPANY LIMITED
Bank of Ayudhya Public Company Limited [symbol in SET: BAY], established on January 27, 1945, is the fifth largest commercial bank in Thailand with total assets of Baht 735 billion. BAY provides a full range of banking services to both its commercial and individual customers through 576 branches nationwide. On 3 January 2007, BAY and GE Money, a premiere global consumer financial services firm, have successfully become strategic partners. GE Money and Ratanarak Group are now major shareholders with 33% and 25% stake in BAY respectively. For more information, please visit Bank of Ayudhya website,
www.krungsri.com