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Top Thai Bank’s Digital Platform to Drive Loan Growth Surge

  • Expects near eight-fold increase in lending via mobile app
  • Siam Commercial’s Apiphan Charoenanusorn speaks in interview
Apiphan Charoenanusorn
Apiphan Charoenanusorn
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Siam Commercial Bank Pcl expects digital lending to retail customers to climb almost eight-fold this year as Thailand’s biggest lender accelerates its online drive to win business.

Credit card and personal loans via the bank’s mobile phone application will rise to at least 18 billion baht ($582 million) this year from about 2.3 billion baht in 2018, said Co-President Apiphan Charoenanusorn. A $1 billion investment to support the technology, due to be completed this year, has helped the online retail banking expansion, she said.