As Thai Credit Bank Public Company Limited (CREDIT) steps boldly into 2025, it’s not just any year on the calendar for them—it’s a year teeming with ambitions and promising prospects! The bank is all set to chase a thrilling business strategy, aspiring for a double-digit loan growth while embracing the waves of digital transformation. With last year’s net profit skyrocketing to a record-breaking 3,624 million baht, confidence in their strategic direction is at an all-time high.
During their 2024 analyst meet, Thai Credit unraveled its roadmap to fortify business operations amidst economic turbulence. Mr. Winyou Chaiyawan, the charismatic Chairman of the Executive Committee, explained the bank’s drive towards sustainable growth. “Thai Credit as your financial partner? Think bigger! We see ourselves as a pivotal part of your business journey, especially for the unsung but vital micro SMEs and individual business owners,” he proclaims. “Our forte? Crafting flexible, customer-centric financial products that make business expansion seem more like a breeze than a hustle.”
2025 Business Goals and Financial Targets
To illuminate the path ahead, Mr. Roy Agustinus Gunara, the sharp-witted Chief Executive Officer, spelled out the bank’s visions. At the heart of their 2025 strategy are core product growth and an ambitious digital transformation. As they delve deeper into the second phase of their Digital Transformation Odyssey, their core banking system is gearing up for a grand revamp. Mr. Gunara voiced with enthusiasm, “This metamorphosis will catapult our growth potential, allowing us to roll out novel products and venture into uncharted business segments.”
Significantly, their financial targets for 2025 are ambitious:
- Pushing for a robust double-digit loan growth, focusing heavily on micro SME loans, home equity loans, and personal loans.
- Maintaining a tempting Net Interest Margin (NIM) of 8.5-9.0%, while zeroing in on quality loan growth paired with a favorable cost-to-income ratio.
- Keeping non-performing loans (NPLs) well below a manageable 4.5%.
Diving into the digital dimension, Thai Credit is rewriting the rulebook on customer service with their alpha by Thai Credit application. This marvel of technology lets users juggle their financial affairs at their fingertips, anytime and anywhere. Back in 2024, this app witnessed a meteoric rise: a 68% growth in account numbers and a 46% boost in transaction value, culminating in a whopping 19 billion baht!
And that’s not the end of the tech magic! The Micro Pay e-Wallet, crafted for the microfinance clientele, had its own star moment: a 12% increase in active users and a 25% jump in transaction value, soaring to 26.1 million baht.
Commitment to Sustainable Growth
Thai Credit is nailing its colors to the mast with a plan that marries customer value creation with sustainable growth. The bank’s commitment to enhancing financial literacy and offering bespoke financial solutions keeps powering the dreams of small entrepreneurs, micro SMEs, and even your local grocery store operators. The goal? To empower them to master their finances and propel their businesses upwards.
Beneath their guiding mantra, “Everyone Matters”, Thai Credit pledges to ensure that equitable and sustainable financial services are not just lofty ideals but tangible realities for everyone. With technology as their trusty steed, they aim to supercharge customer experiences. The bank is delivering imaginative solutions that cater to the diverse tapestry of needs while playing a vibrant role in fueling Thailand’s economic momentum.
As Thai Credit Bank gears up for its next chapter, its vision remains undimmed: to be the vanguard of inclusive financial services, walking hand in hand with customers on their journeys to financial wisdom, stability, and triumphant success.
Thai Credit Bank’s strategy is ambitious, no doubt. But I question if their digital push will truly reach the rural population. Many people there still lack internet access.
True, but isn’t this the point of inclusive banking? They need to ensure everyone has access. Maybe this will push for better infrastructure.
Improving infrastructure sounds great, but at what environmental cost?
The real hurdle is education. Many rural folks just aren’t familiar with digital banking apps.
True, education is key. But if done right, this could revolutionize financial inclusion in those areas.
Double-digit loan growth in an unstable economy? Sounds like a recipe for disaster. They might be biting off more than they can chew.
I see your point, but with their focus on SMEs, it could lead to substantial economic benefits.
Only if the SMEs succeed. Not every business can thrive even with funding.
Fair point, but supporting small businesses has historically shown positive economic impacts.
Plus, their high Net Interest Margin is no guarantee. Economic shifts could quickly change that.
Exactly! The market is volatile, and operating on razor-thin safety margins is risky.
This focus on digital transformation is exciting! Imagine banking becoming as easy as social media.
Ha! Until there’s a massive data breach and everyone panics about privacy.
Come on, data security measures are advancing. Luddite fears shouldn’t stop progress.
Convenience does come with risks, but the benefits often outweigh them if managed well.
Exactly, Jane! As long as Thai Credit keeps security forefront, this could be transformative!
The focus on microfinance and SMEs is commendable. They drive significant grassroots economic growth.
Too idealistic. These loans could put unsustainable debt burden on individuals.
Debt can be a double-edged sword, true. But with responsible lending, it’s a catalyst for progress.
Does anyone know if this plan addresses financial literacy directly? It’s one thing to offer services, another to ensure understanding.
They mentioned enhancing financial literacy, but details are scarce. It’s crucial they provide proper education.
I hope so! Understanding financial products is as important as having access to them.
This all just sounds like corporate fluff. I’ve seen promises like these come and go with little change.
It’s nice to see such optimism in their goals. If they meet even half of them, it would be significant progress.
It’s about time banks stepped up their digital game. The world is moving on, and they should too.
Realistically, how will they keep NPLs under 4.5% given the current economic scenarios? Sounds overly optimistic to me.
It’s challenging, but not impossible. Careful risk assessment and management can help maintain control.
I run a micro business and Thai Credit has helped us before. Their SME focus gives me hope for better support in the future.
I have my doubts, but if their app is as good as they say, it could revolutionize customer experience.
I’ve used their alpha app. It’s slick and user-friendly, but it needs more features to really stand out.