TMB Bank aims for 20% growth in lending, revenue and supply chain clients this year, bolstered by an upgraded digital platform.
"We aggressively set a supply chain business growth target this year when compared with the past," said chief wholesale banking officer Senathip Sripaipan. "The healthy growth will be supported by digital platform development and business collaboration with several partners, both in finance and non-finance."
The bank has upgraded the digital platform for supply chain financial solutions, targeting three sectors: retail, construction and agriculture.
TMB aims to raise the number of small and medium-sized enterprises (SMEs) under supply chains of its corporate customers to 1,200 by year-end from 1,000 now.
The bank has about 100 corporate clients that are supply chain sponsors.
TMB, the country's seventh largest bank by assets, developed a supply chain business and financial solutions for the supply chain segment over the past 10 years.
It has also cooperated with technology partners in adopting the financial solutions platform.
The retail sector has a large supply chain, with 1.27 million companies nationwide, while construction contributes 2.8% to the country's GDP and agriculture employs 12 million.
Apart from those three industries, the bank plans to extend digital platform solutions to other sectors, with auto parts and export-import involved in the next phase, Mr Senathip said.
Chief executive Piti Tantakasem said Thai economic growth this year is expected to expand at a slower pace than last year's 4.1%, dragged by external uncertainties.
The country's economy has grown in a range of 3-4% annually over the past several years, underpinned by the government's stimulus packages, especially public spending and tourism measures.
Economic growth, however, is still concentrated in the large corporate sector.
There are 6,662 big corporations that make up 58% of total business revenue, while the remaining 42% is derived from 3 million SMEs.
"In the case of business expansion throughout the supply chain, it will support the country's economy to grow at its potential," Mr Piti said.
