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KASIKORNBANK’s Retail Business Division is celebrating its satisfactory performance in the first half of this year, being at the top in both the debit card and insurance businesses. The Bank continues its drive to become the number one bank in customers’ hearts by launching K-Expert, a new strategic revamp for financial services, in order to provide customers a new experience in keeping with their lifestyles, and to meet their financial needs, via a face-to-face approach. The new service will be available in more than 800 branches nationwide. The Bank aims to gain 2 million new customers under this program.
Mr. Pakorn Partanapat, Executive Vice President of KASIKORNBANK, said bank competition in retail business remained intense over the first half of this year, including deposits, personal credit, credit cards and insurance. The Bank has since early this year adopted a proactive marketing plan, ‘Becoming Number One in Customers’ Hearts’, by launching new products and services via a complete marketing communication plan including big cities in the provinces. This has helped the Bank to achieve its targeted earning results.
Total deposits and mutual funds measured 1.91 trillion Baht, up 8 percent from the previous year, including 7-percent growth of deposits and 11-percent growth of mutual funds. Consumer loans amounted to 270 billion Baht, an increase of 6 percent from 2011, of which 190 billion was K-Home Loan with 5-percent growth, 42 billion Baht for K-Credit Card with steady on-year growth, and 32 billion Baht for K-Express Cash and other personal loans with 18-percent growth. Total NPLs remained at 1.4 percent, which is lower than the industry average.
Net fee income over the first half of this year totaled 8.2 billion Baht, increasing 25 percent on-year. The increase was mainly derived from insurance products by 2.1 billion Baht, or growth of 43 percent. KBank’s new business premium was the highest in the market, with a 25-percent market share. In addition, fee income was also helped by credit card business and merchant fees of 1.9 billion Baht, or expansion of 38 percent. KBank was the top bank in credit card merchants and spending. Additionally, the Bank’s net debit card fee income measured 1.4 billion Baht, a surge of 18 percent. At least 1.7 million new debit cards were issued in the first half of this year, leading to a total of 8 million debit cards.
Over the rest of this year, KBank expects to maintain its emphasis on ‘customer centricity’ with K-Expert launched under the concept of an ‘advisory bank’, focusing on the Bank’s leadership in financial advisory services. With professional financial advisors, KBank will provide unique experiences that will completely satisfy each customer’s needs.
Mr. Pakorn added, “The K-Expert team will create unique experiences with three elements. Customer Centricity focuses on customers with studies on financial demands of each customer group in terms of their age group, aiming to offer appropriate products and services suited to their demands. Professional Financial Advisors include 800 K-Expert team members available at branches nationwide. More than 100 million Baht has been allocated for more than 600 hours of intensive training for these experts. In the near future, customer sales and service personnel at branches will also be trained to become K-Expert officials who can offer professional advice to customers. Customer Experience is 14 Need-Based Guidebooks available at branches, which the Bank has provided to directly match the lifestyles and demands of each customer group. The guidebooks consist of easy financial management measures, making dreams come true and offering guidance in all savings and financial management for the future”.
Mr. Pakorn added, “K-Expert will give a new experience to customers at branches, better matching their lifestyle needs and financial demands, which differ in accordance with their circumstances. This will make customers feel the difference, that the Bank really understands their needs. With the Bank’s revamped program, K-Expert, we will position KBank as the main bank for all of Thailand’s retail customer groups. We’re confident that our target of at least 2 million new customers can be reached within this year.”