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KTC reports better-than-expected Q1/2016 profit of 635 million baht

A series of new marketing campaigns launched to meet the needs and preferences of customers in all segments

KTC posted a net profit of 635 million baht for this year’s first three months, up 11% from the same period of 2015. The total number of card members also grew to nearly three million accounts. Account receivables and card spending increased to a level that is higher than the industry average, while non-performing loans (NPLs) declined to 2.0%. Unveiling the market strategy for the rest of this year, the credit card company has set up a dedicated marketing team to be responsible for developing and launching attractive promotional campaigns that are worth checking out and deliver more value to card members regardless of their spending lifestyles or market segments they are in. To get bigger market share, these campaigns are also intended to cover both high-end and rapidly growing lower-end customers.

“KTC” or Krungthai Card Public Company Limited President & Chief Executive Officer Rathian Srimongkol said, “Despite the fact that Thailand was facing slowing economy in the first quarter of this year, the overall credit card and personal loans industry continued to grow uninterruptedly. And there is no exception for KTC, we have maintained our growth momentum with an increasing number of card members and the volume of card spending that goes beyond the industry’s average. However, we have enjoyed a decline in NPLs which are much lower than the industry standard.”        

He continued, “In the first quarter, when compared with the same period of 2015, our total revenue rose 12% to 4.152 billion baht and we were able to control the operating cost so that it went in a similar fashion to that of the previous year. The operating cost to income ratio was 28.9%, up from 28.8%, enabling the company to gain net profit of 635 million, which represents an 11% increase over the first quarter last year.”

“The company’s total assets reached 58.158 billion baht, showing an 11% increase over the same period of the previous year. Generating the primary income for the company is the net account receivable balance that accounts for 93% of the total assets. The total net account receivable port, after allowance for doubtful account deduction is made, is equal to 54.137 billion baht, a growth of 11% from the same quarter in 2015. The total member base was at 2.8 million accounts, a growth of 8%. Of the total member base, 1,995,139 accounts are credit card (an 8% increase) with net receivable of 36.627 billion baht; 760,736 accounts are personal loans, (an 8% increase) with net account receivable of 17.339 billion baht. Card spending growth improved impressively to 15.5%, which is higher than the industry’s growth at 8.2%, and this expands at a higher rate than the industry’s average every month when compared with the same period last year.”

“The total NPL was at 2.0%, which was reduced from 2.4%. NPLs caused by credit cards were down from 1.6% to 1.4% (lower than the industry’s average of 3.6%). NPLs caused by personal loans were reduced from 1.1% to 1.0% (lower than the industry’s average of 3.5%) compared to the same period last year. Bad debts recovered in the first quarter were at 581 million baht, up 21% from the same period of the previous year.”

“For the first quarter of 2016, KTC has an available credit line of 27.810 billion baht, comprising 18.030 billion baht from Krungthai Bank and 9.780 billion baht from other commercial banks. Finance costs maintained at 3.5% a decrease from the same period last year. The ratio of debt to shareholders’ equity is 5.21, which is 10 times lower than the company’s obligation,”

“Gaining greater market share is one of our primary goals for the year 2016. This can be achieved through expanding customer base and encouraging continuous growth in card spending. With the growth projection of 15%, this year’s net profit is likely to be at the same level as that of last year. In this year our focus involves three areas of development: human resource development in pursuit of efficiency, advanced technology development and improvements in the work process to achieve a leaner, more integrated and simplified business environment. Next steps in the marketing strategy will concentrate on meeting different needs and preferences of the upscale market while retaining customers in the mass market. To make it possible, we will encourage a collaborative effort between our marketing team, existing trade partners and business alliances as well as new partners and our CRM function to enable them to create marketing campaigns and promotions that match with specific needs and make every card spending truly the most valuable and rewarding experience for our members in all segments, regardless of their lifestyles.” said Rathian.


For more information:        

Public and Corporate Affairs Department, Krungthai Card Public Company Limited

Kandtharat  Chermchitphong          Tel.  0-2828-5057

Suchada  Weerasakulrak                  Tel.  0-2828-5732    

Fax. 0-2828-5046      e-mail:

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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