Customers of Krungsri’s financial services in Laos will benefit from more convenience in making payments after connecting to the Joint Development Bank’s banking channel.
Krungsri Leasing Service Co., Ltd yesterday signed an agreement with JDB to provide customers with another option to make payments on its financial products.
The agreement was signed in Vientiane between Krungsri Leasing Service Co., Ltd Managing Director, Mr Suradej Punturaumporn, and Joint Development Bank Director General, Mr Sounthorn Chantavong.
The event was witnessed by boards of directors from the two banks.
Leasing markets had further growth potential and opportunities in Laos, so development was made in response to customers’ needs, the signing ceremony heard Mr Suradej as saying.
Krungsri and JDB have joined hands to develop and service customers through this channel in response to their demand, he said.
From now on, Krungsri’s customers are set to have more convenience when making payments on cars and electric appliance leases as they may use their member cards at all JDB branches.
According to the company, Krungsri First Choice was the first financial product for Krungsri leasing company to introduce to consumers.
It focuses on offering options for cars and tires, electronics and electrical appliances in Laos.
Krungsri Leasing Service Co., Ltd is a joint venture between Bank of Ayudhya Public Company Limited (Krungsri) and Unity Capital Company Limited (UCC), a Vientiane-based consumer finance company that offers consumer financing products in Laos, according to the company.
Krungsri holds a 70 percent stake in the joint venture with UCC holding the remaining 30 percent.
The company cited the partnership with UCC as a combination of Krungsi’s strength in consumer finance management and UCC’s local market and consumer insights.
Mr Sounthorn said Joint Development Bank has invested in developing banking systems in Laos, especially information and technology systems due to it is key position in the country’s banking sector.
Laos has more than 40 commercial banks, so developed and upgraded systems and products are needed to ensure competitiveness, he said.
This will provide more choices to Krungsri’s customers, Mr Sounthorn said.
Krungsri Leasing Service is a 70:30 joint venture of Bank of Ayudhya and Vientiane-based Unity Capital Company (UCC).
Source: Vientiane Times