Krungsri (Bank of Ayudhya) has announced its commercial banking business strategy under a new medium-term business plan covering 2018-2020, with an aspiration to become a main operating bank for corporate customers and small and medium-sized enterprises.
With the aim of building a balanced portfolio to drive toward sustainable growth, Krungsri will deploy digital technology and innovation to provide total financial-solution services, and continue to leverage synergy between its local expertise and the global strength of its ultimate parent, Japan’s Mitsubishi UFJ Financial Group (MUFG).
For this year, the bank’s commercial banking operation targets loan growth of 6-8 per cent, and deposit growth at the same level.
Pornsanong Tuchinda, Krungsri’s head of commercial banking, said on Tuesday: “Krungsri’s commercial banking group succeeded in building asset growth under the first medium-term business plan during 2015-2017, with an average loan growth of 7.5 per cent per year and average deposit growth of 5 per cent a year.
“This reflected our capabilities to build on our success after the integration between Krungsri and BTMU [Bank of Tokyo-Mitsubishi UFJ] Bangkok Branch, and the collaboration with MUFG’s global network.”