Krung Thai eyes 30% surge in fee income

Lender's optimism extends to its expansion plans and growth in consumer loans.

Krung Thai Bank aims to increase its fee-based income by 30 percent this year by expanding its financial services across the board, says first senior vice-president Anuchit Anuchitanukul in a report in Bangkok Post.

The bank reported fee income of 10.36 billion baht ($313.42 million) in 2009, a 30.68 percent increase from the year before.

Likewise, KTB plans to open 80 branches this year from its current network of 870 outlets. The bank plans to expand its nationwide ATM coverage to 7,700 units, up from the current 6,500.

The bank forecasts a growth of about 35 billion baht ($1.06 billion) in consumer loans this year or 13 percent year-on-year. KTB's retail loan portfolio totals 270 billion baht ($8.17 billion), or 25 percent of the bank's total outstanding debts of 1.07 trillion baht ($32.37 billion), he said.