Business Performance
Nature of Business
Thai Credit’s products and services can be divided into three main types: loans, deposits, and bancassurance brokerage and mutual fund brokerage.
In terms of the loan business, Thai Credit's loan business is aimed at supporting the businesses of micro enterprises and SMEs, and promoting their business growth and financial stability in the long run. A variety of Thai Credit loan products are designed to serve customers' demands, and different credit limits are determined to suit target customers, including MSME Loans, Nano and Micro Finance Loans, Home Loans, Personal Revolving Loans, and other retail loans. Thai Credit also provides multiple types of deposit services, including current accounts for businesses, and savings accounts and term deposit accounts for retail and wealth banking customers. Deposits remain the key funding source for Thai Credit, as they provide Thai Credit with a lower cost of funds than funding from other sources. Thai Credit also sees opportunities to capitalise on its existing branches and network of loan officers to act as a bancassurance sales representative for five companies for savings life insurance, pension life insurance, fire insurance, and credit life insurance. Thai Credit is also a dealer of mutual fund products for four asset management companies.
Products
Thai Credit develops unique micro finance products and services that provide easy access to sustainable financial solutions.
Loan Business
The various demands of micro enterprise and SME customers, which collectively are the largest group of businesses in Thailand based on the number of entrepreneurs. Micro enterprise and SME customers in Thailand are expected to continue growing and thus require funding for the expansion of their businesses and working capital or liquidity needs.
Meet the needs of micro enterprises, especially merchants, in order to provide them with access to a formal financial institution which requires no collateral. To help micro enterprises, which constitute the economic foundation of the country, to get through the ongoing crises and revive their business operations.
Thai Credit's Home for Cash campaign began with an aim to help reduce consumers' debt burden through this debt consolidation program, as an increasing number of people have been burdened with multiple personal loans and other debts with high interest rates. Borrowers can use their land, houses, or condominium units as collateral for the Home for Cash Loans.
Targeting customers with regular income such as full-time employees, employees of state enterprises, and government officials, etc. The personal revolving loans include revolving loans for immediate drawdown, credit card debt refinancing or other personal loan refinancing. Such loan amountis in accordance with the Bank of Thailand's rules.