Krungsri Auto hails half-year profits 

Corporate August 23, 2018 17:44

By The Nation

Considering its strong half-year performance, Krungsri Auto has revised all of its growth targets for 2018, according to Pairote Cheunkrut, head of Krungsri Auto Group.

The company now aims to achieve a new lending volume of Bt198.6 billion, a 20 per cent increase from the previous year, and outstanding loans of Bt378 billion, a 17 per cent year-on-year growth.

Krungsri Auto, the automotive finance branch under Bank of Ayudhya PCL, on Thursday announced its 2018 first-half results, with 31 per cent growth year on year in new lending, amounting to Bt102 billion. 

Pairote said: "In the first half of 2018, Thailand's automotive market grew consistently, especially new car sales, which saw higher increases than forecasted, and further fuels constant expansion of the automotive finance market.”

Krungsri Auto's non-performing loan rate (NPL) is in line with the market average at 1.5 per cent, the firm said.