KLeasing loan growth jumps 41 % as net profit increase by 5.8%

Kasikorn Leasing Company's earnings for the first half of 2011 totaled 237 million Baht, an increase of 5.8 percent over-year, said Mr. Isara Wongrung, Managing Director of Kasikorn Leasing Co., Ltd.

It's outstanding balance as of June measured 60.25 billion Baht, up 22.82 percent from the same period last year. Meanwhile its non-performing loans stood at 0.89 percent, an improvement of 0.50 percent against 1.43 percent in the same period last year.

In the second half of 2011, the company aims to boost auto hire purchase/leasing loans by expanding its coverage to new vehicles of all brands, the pickup truck market, and used cars, in order to extend its market reach and to meet its goal of becoming the top company within the next two years.

According to Isara said more than 432,012 vehicles have been sold in the first half of 2011, up 21 percent over-year. That translates to KLeasing granting credit of 27.78 billion Baht over the period, up 41.16 percent over-year.

The company aims to expand its market over the second half of this year with special campaigns and terms in order to match customers’ needs and differentiate itself from competitors.