KTC unveils its 2025 strategic plan, 'Building a Sustainable Future Through Digital Transformation,' aimed at achieving comprehensive digital transformation and sustainable growth. The plan emphasizes IT system upgrades, workflows restructuring, and employees upskilling in advanced technologies to enhance efficiency, reduce cost, drive innovation, and deliver a seamless member experience. These efforts also target expanding its member base while maintaining high-quality loan portfolios.
Mrs. Pittaya Vorapanyasakul, President & Chief Executive Officer at Krungthai Card Public Company Limited (KTC), stated, "We anticipate Thailand's economy will gradually improve in 2025, driven by the government's economic stimulus measures that boost household income and access to funding, presenting growth opportunities for the consumer finance industry. KTC's strategy for 2025 centers on sustainable digital transformation through four key approaches:"
KTC aims to grow its loan portfolio by 4-5% in 2025 while maintaining a non-performing loan (NPL) ratio below 2%. To support this growth, KTC plans to secure approximately 15 billion baht in long-term loans for portfolio expansion, technology investments, and refinancing of 13 billion baht in maturing debentures and loans. In 2025, Credit Card spending is projected to grow by 10-12%, reaching at least 320 billion baht, with plans to add 250,000 new cardmembers, focusing on individuals earning 50,000 baht or more, including first jobbers. Additionally, KTC differentiates itself by optimizing the value of KTC FOREVER points through strategic partnerships across key categories such as dining, shopping, fuel, and travel. These initiatives are designed to meet the diverse lifestyle needs of our members with precision and impact. KTC will also enhance its KTC DIGITAL CREDIT CARD and "KTC PROUD" Cash Card for improved online usability.
The 'KTC PROUD' Cash Card aims for 3% growth by expanding its member base through partnerships, with an emphasis on improving accessibility to loans. Customers will benefit from the e-application platform, which enables online applications, instant approvals, and fund transfers within just 30 minutes. The card enhances the user experience with the all-in-one 'Swipe, Transfer, Withdraw, Installment' functions. The "Debt Clearance" initiative will continue to promote financial discipline. Meanwhile, the 'KTC P BERM Car for Cash' loan is set to grow by 3 Billion Baht, focusing on quality portfolio through Krungthai Bank branches and outsourced agents, dealership and business partners. The product is tailored for salaried employees and small business owners, offering safe, accessible financing with loan amounts up to 100% of the vehicle's assessed value, fast approval within an hour, and immediate disbursement, all without the need for a guarantor.
KTC is committed to driving sustainable growth through financial innovations that effectively meet user needs while upholding social responsibility. This strategy ensures long-term financial strength and stable business growth for the future." Mrs. Pittaya concluded.