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It also registered the member base of 1.92 million accounts.

Niwatt Chittalarn, President & Chief Executive Officer of KTC, said the firm is set to tackle economic slowdown in the last quarter of the year by focusing on the expansion of regional member bases together with the use of lifestyle segmentation strategy to encourage the use of credit cards in daily life.

Total credit card spending is 15 per cent greater than the same period of 2006. The delinquency rate (30-179 days) of receivables from all businesses is below that of industry's, it said. 

"It is true that consumers have been more cautious in their spending since the beginning of this year and that we have been affected by rising financial costs. However, we remain capable of generating a steady stream of revenue thanks to our new business strategies which are consistent with prolonged economic recess. We actively manage portfolio quality, encourage credit card members to use their card, and, remind personal loan clients to spend reasonably and on what is important to their daily life. These have proven to contribute to our operation to an extent," Niwatt said.

- The Nation