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Bangkok Post
Bangkok Post
Business

Krungsri targets 15m customers

Mr Phonganant says the bank plans to expand physical branches under the Krungsri One Retail strategy to offer sophisticated financial advisory services to build up customers' wealth.

Bank of Ayudhya (Krungsri) aims to increase its individual customers to 15 million, with 12 million on its mobile banking platform, in three years.

Krungsri wants to continue growing its retail banking business both locally and regionally.

The bank launched Krungsri One Retail strategy by leveraging the synergy of the bank and its four business units and subsidiaries, comprising Krungsri Auto, Krungsri Consumer, Krungsri Securities Co Ltd and Krungsri Asset Management Co Ltd.

Under Krungsri One Retail, the bank has a total individual customer base of 12 million, of which 9.5 million are on digital platforms.

The group targets expansion of the customer base to 15 million in three years, with 12 million expected to be on digital platforms, said Phonganant Thanattrai, Krungsri head of retail and consumer banking.

Under the bank and its business units, Krungsri offers individual financial services on four mobile applications, including a mobile banking app or Krungsri Mobile App (KMA) and a digital savings platform called Kept by Krungsri. The automotive financial platform is dubbed Go by Krungsri Auto, while the app for credit card and personal loan service from Krungsri Consumer is called U-Choose.

Some individual investment services and products from Krungsri Securities and Krungsri Asset Management are features on KMA.

Customer receive financial services at a Krungsri bank branch. Somchai Poomlard

In addition to the digital platforms, some of these retail financial services and products are also available at the bank's physical branches under the Krungsri One Retail strategy.

The bank renovated five branches from its network of 600 nationwide to be pilot projects for One Retail service.

Brick-and-mortar branches under the Krungsri One Retail concept offer the services of the bank, Krungsri Auto and Krungsri Consumer, while focusing on sophisticated financial services and products, he said.

"Even though 80% of banking transactions are conducted on digital platforms, most of those transactions are basic financial services," Mr Phonganant said.

"The bank plans to expand physical branches under the Krungsri One Retail strategy to offer sophisticated financial advisory services to build up customers' wealth."

The Krungsri One Retail branch concept has received a good response from customers after launching in 2021, he said. As a result, the bank will mainly focus on the omni-channel strategy in response to client demand, covering both the mass and high net worth segments, said Mr Phonganant.

In addition, he said Krungsri will continue to expand retail banking business to Asean markets after developing a presence in Laos, Cambodia, Vietnam and the Philippines.

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