The Thai Credit Retail Bank (TCRB) shows appreciation towards a report on deposit and loan proportion that surpasses the target despite the world’s economic setback. Thai Credit Retail Bank is also re-emphasizing its brand as a ‘Retail Bank’ employing a ‘better opportunity better life quality for the happiness of Thai people of all ages’ strategy in order to accentuate its strength by developing the exceptionally financial products and services that are different from the other banks’. It also states that, in 2010, it will make a more aggressive move, aiming to increase the size of a new-customer base to 61%.
Mongkon Leelatum, chief executive officer and managing director of Thai Credit Retail Bank Co., Ltd. revealed that the year 2010 is the 4th year of the Thai Credit Retail bank’s operation. In the past year, Thai Credit Retail Bank has proved its operational ability by expanding its business intensively and continually a whole year. Regardless of world economic recession, it brought in the total revenue of 88%. The growth rate of deposits is 51%, compared to last year’s (end of 2008): 99% of them are customers with financial amount less than 10 million baht; average deposit per account is 437,000 baht. The growth rate of loans is 72%: 99% of them are customers with personal loan size less than 10 million baht; average loan size per account is 200,000 baht while the NPL rate is only 1.47%.
“Such a remarkable growth of Thai Credit Retail Bank and positive feedbacks from our clients reflects our marketing strategies, innovative products and financial services that perfectly match the needs of retail customers. We are satisfied with our past performance especially during the challenging time caused by economic fluctuations and drastic competitions. The year 2010 is going to be another challenging year. However, we are certain that, with our adept operational management, core-valued staff as the bank expected which are Team spirit, full of Credibility, Result Oriented and Best Service that will contribute to Thai Credit Retail Bank’s non-stop growth”.
Mongkon also mentioned that the strategy that will propel the business to its goal is ‘customer-centric’ one. Therefore, he put a great emphasis on new financial products and services for retail customers in order to answer the needs that vary upon economic circumstances and current situations. This is to render ‘better opportunity better life quality for the happiness of Thai people of all ages’. Up until now, Thai Credit Retail Bank’s most popular deposit products are the tax-free account with 4% interest and the Plus Account, the saving account which has a high liquidity and high interest, compared to a normal savings account as the interest will be deposited to customer’s account on monthly basis.
“While the most popular loan products are Gold for Cash, Home for Cash, Auto for Cash, SMEs, SE, leasing, home credit, etc,. These Thai Credit Retail Bank products are crafted to enhance its clients’ life quality by offering a happy way of paying back the debts.”
In addition, Thai Credit Retail Bank has instilled its retail positioning by taking over the Thanaban Co., Ltd., a motorcycle leasing company which possesses the 4th market share in Bangkok Metropolitan and its vicinity, to expand a retail customer base.
The 2010 operation plan is still focusing on the expansion of retail customer base. The expansion target of loans including SMEs, leasing, gold, home credit and personal is set to 60% and the deposits 43%. This year, Thai Credit Retail Bank is planning to launch a few new products which are completely different from other banks. They will be mainly about a better life quality and giving opportunity or offering a better option to customers. Besides, in the first half of this year, Thai Credit Retail Bank will launch 4 brand new branches located in Seacon Square, Ngam Wong Wan, Bangkapi and Pathumthani area seek for more business network alliances in order to accommodate a customer’s need for financial transaction. A previous cooperation that becomes successful is the nationwide ‘easy deposit convenient withdraw’ campaign done in conjunction with Thailand Post and Krung Thai Bank.
In addition to the operation plan, Thai Credit Retail Bank is also placing importance on its human resources. It provides special trainings such as gold inspection starting from basic to expert and core of how to serve customers professionally. It also open door for ‘young bloods’, who are ready to grow with the organization, to show their vigorous forces.
Saturday, January 30, 2010
Friday, January 29, 2010
New Trade Landscape Emerging for Asia’s SMEs
FedEx-Commissioned Research Reveals Trade Opportunities for Asia’s SMEs Increasingly Linked to Burgeoning Demand from China’s Domestic Market And to Unrealized Potential of FTAs
FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world's largest express transportation company, today released the findings of new research which reveals the challenges and opportunities for Asia’s Small and Medium Sized Enterprises (SMEs) emerging from the financial crisis towards economic recovery. The study shows that while cost controls remain crucial to survival, SME exporters may benefit from both new sources of consumer demand within Asia, and from the rising volume of trade within the region—especially if more advantage is taken of its many Free Trade Agreements (FTAs).
Entitled “Towards the Recovery: Challenges and Opportunities facing Asia’s SMEs,” FedEx Express commissioned the research from The Economist Intelligence Unit (EIU). The report is based on interviews with corporate officers at SMEs, regional experts and a review of recent studies published by leading authorities, including the Asian Development Bank and national governments in the region.
“Small and medium sized enterprises, which comprise 95% of businesses in the Asia Pacific region and employ nearly 80% of the workforce, play a critical role in the region’s economy and will be vital in its recovery and growth in 2010,” said David L. Cunningham Jr., president, Asia Pacific, FedEx Express.[1] “With demand in the West making a slower recovery than Asia’s rapidly improving economic outlook, this report provides SMEs in the region with an understanding of the new trade dynamics that are emerging here. As a facilitator of trade, we believe the report’s insights will help SMEs to evaluate these new opportunities and tap into the regional recovery underway in Asia.”
One of the report’s key findings examines how SMEs stand to benefit from two new interlocking dynamics within the economies of the Asia Pacific region. The first is a need to rebalance economies in the region to reduce their reliance on consumers in developed Western markets and turn their attention towards domestic demand.
The second is intra-regional trade, by which SMEs in smaller markets in Asia may take advantage of increasing consumer demand in the region’s developing giant economies, namely China.
Against a backdrop of slow economic recovery in the West, Asian SMEs would benefit from an emerging customer base within the region. There are signs that China may be able to provide this, as its middle class becomes wealthier and policy makers seek to rebalance its economy away from a reliance on exports and towards domestic demand.
In fact, in the first three quarters of 2009, China’s retail sales grew by 15.1% year-on-year, almost as fast as before the financial crisis. The buoyant Chinese economy has the potential to anchor a new region wide trade dynamic, with China not just an assembly point for exports to Western markets, but as a final destination for goods from other Asian countries.
“Throughout this decade we have witnessed the flow of goods into China as it has acted as the assembly line for the region, and then exports out of China to the West. This research shows that Asian consumerism is a force that will lead the region back to prosperity,” Mr. Cunningham said. “FedEx is committed to assisting SMEs seek out emerging trade opportunities within and across the Asia Pacific region through our intra-Asia network which connects 22 major cities. Coupled with our flexible services we can help position SMEs to be even more competitive in today’s rapidly changing business environment.”
Linked to this trend of increasing intra-regional trade is the proliferation of Free Trade Agreements (FTA) that have been signed over recent years in an effort by Asian economies to promote more trade with each other. As of mid-2009 these economies concluded 54 FTA’s among themselves and with countries outside the region. Most recently, an FTA between China and the Association of South-East Asian Nations (ASEAN) went into effect on January 1st, 2010. This will create a common market of some 1.7 billion people and under the agreement, 90% of goods traded between China and ASEAN’s six richest member states now enjoy zero tariffs.
The trade preferences offered by FTAs represent a major opportunity for SMEs in the region to grow their cross border business. However, the research points to the fact that many SMEs, with their limited resources to handle multiple tariff schedules and document requirements, do not yet know how to make use of FTA provisions. It is clear that better official guidance and information is necessary if SMEs are to take advantage of Asia’s evolving trade dynamics.
“FedEx is a supporter of any act or process that facilitates trade,” Cunningham said. “Confusing customs regulations, duties and taxes remain one of the biggest barriers for SMEs in accessing international markets, which is why FedEx offers dedicated software solutions that help small business expand their reach quickly and simply.”
One such example is FedEx Global Trade Manager, an online tool that simplifies international shipping by identifying the documents needed for shipping to more than 200 countries. The free, online resource even calculates various taxes and duties needed in the process.
“We commissioned this research recognizing the importance of SMEs to the region’s economy and also to the future development of the express market. Today’s international exporters are not major multinational companies, but small businesses,” Cunningham said. “FedEx helps small business owners go global from day one through greater access and its tailored portfolio designed to meet the unique needs of SMEs with personalized services, innovations, tools and discounts focused on value, reliability, reach and service. It is particularly satisfying to see these services as being increasingly relevant in Asia’s changing economies.”
FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world's largest express transportation company, today released the findings of new research which reveals the challenges and opportunities for Asia’s Small and Medium Sized Enterprises (SMEs) emerging from the financial crisis towards economic recovery. The study shows that while cost controls remain crucial to survival, SME exporters may benefit from both new sources of consumer demand within Asia, and from the rising volume of trade within the region—especially if more advantage is taken of its many Free Trade Agreements (FTAs).
Entitled “Towards the Recovery: Challenges and Opportunities facing Asia’s SMEs,” FedEx Express commissioned the research from The Economist Intelligence Unit (EIU). The report is based on interviews with corporate officers at SMEs, regional experts and a review of recent studies published by leading authorities, including the Asian Development Bank and national governments in the region.
“Small and medium sized enterprises, which comprise 95% of businesses in the Asia Pacific region and employ nearly 80% of the workforce, play a critical role in the region’s economy and will be vital in its recovery and growth in 2010,” said David L. Cunningham Jr., president, Asia Pacific, FedEx Express.[1] “With demand in the West making a slower recovery than Asia’s rapidly improving economic outlook, this report provides SMEs in the region with an understanding of the new trade dynamics that are emerging here. As a facilitator of trade, we believe the report’s insights will help SMEs to evaluate these new opportunities and tap into the regional recovery underway in Asia.”
One of the report’s key findings examines how SMEs stand to benefit from two new interlocking dynamics within the economies of the Asia Pacific region. The first is a need to rebalance economies in the region to reduce their reliance on consumers in developed Western markets and turn their attention towards domestic demand.
The second is intra-regional trade, by which SMEs in smaller markets in Asia may take advantage of increasing consumer demand in the region’s developing giant economies, namely China.
Against a backdrop of slow economic recovery in the West, Asian SMEs would benefit from an emerging customer base within the region. There are signs that China may be able to provide this, as its middle class becomes wealthier and policy makers seek to rebalance its economy away from a reliance on exports and towards domestic demand.
In fact, in the first three quarters of 2009, China’s retail sales grew by 15.1% year-on-year, almost as fast as before the financial crisis. The buoyant Chinese economy has the potential to anchor a new region wide trade dynamic, with China not just an assembly point for exports to Western markets, but as a final destination for goods from other Asian countries.
“Throughout this decade we have witnessed the flow of goods into China as it has acted as the assembly line for the region, and then exports out of China to the West. This research shows that Asian consumerism is a force that will lead the region back to prosperity,” Mr. Cunningham said. “FedEx is committed to assisting SMEs seek out emerging trade opportunities within and across the Asia Pacific region through our intra-Asia network which connects 22 major cities. Coupled with our flexible services we can help position SMEs to be even more competitive in today’s rapidly changing business environment.”
Linked to this trend of increasing intra-regional trade is the proliferation of Free Trade Agreements (FTA) that have been signed over recent years in an effort by Asian economies to promote more trade with each other. As of mid-2009 these economies concluded 54 FTA’s among themselves and with countries outside the region. Most recently, an FTA between China and the Association of South-East Asian Nations (ASEAN) went into effect on January 1st, 2010. This will create a common market of some 1.7 billion people and under the agreement, 90% of goods traded between China and ASEAN’s six richest member states now enjoy zero tariffs.
The trade preferences offered by FTAs represent a major opportunity for SMEs in the region to grow their cross border business. However, the research points to the fact that many SMEs, with their limited resources to handle multiple tariff schedules and document requirements, do not yet know how to make use of FTA provisions. It is clear that better official guidance and information is necessary if SMEs are to take advantage of Asia’s evolving trade dynamics.
“FedEx is a supporter of any act or process that facilitates trade,” Cunningham said. “Confusing customs regulations, duties and taxes remain one of the biggest barriers for SMEs in accessing international markets, which is why FedEx offers dedicated software solutions that help small business expand their reach quickly and simply.”
One such example is FedEx Global Trade Manager, an online tool that simplifies international shipping by identifying the documents needed for shipping to more than 200 countries. The free, online resource even calculates various taxes and duties needed in the process.
“We commissioned this research recognizing the importance of SMEs to the region’s economy and also to the future development of the express market. Today’s international exporters are not major multinational companies, but small businesses,” Cunningham said. “FedEx helps small business owners go global from day one through greater access and its tailored portfolio designed to meet the unique needs of SMEs with personalized services, innovations, tools and discounts focused on value, reliability, reach and service. It is particularly satisfying to see these services as being increasingly relevant in Asia’s changing economies.”
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