Krungthai Card Plc (KTC) will reach its target of a 10% increase in personal credit card loans by the end of the year, a bank executive has said.
The company's personal loan portfolio rose 8.2% from the previous year -- to 26.5 billion baht -- during the January-to-March quarter, Phichamon Jitpentham, vice-president overseeing personal loans, said on Tuesday.
"The overall growth of the personal loan industry in the first quarter of the year remains positive, and KTC displayed positive growth as well," she said.
Amid intensified competition in the personal loan market, KTC is deploying a strategy to launch personal loans for specific purposes, create a network of alliances and maintain asset quality, said Ms Pichamon.
KTC's personal loans numbered 967,059, with non-performing loans dropping to 0.78% of the total at the end of March, down from 0.82% at the end of 2018.
The company's ratio of non-perlorming personal loans was well below the industry standard of 3.49% at the end of Match.
KTC's market share of the personal loan sector stands at 5.4%.