Strategic Plans and Key Operations
Krungthai 3 Summits Strategy
At present, Krungthai Bank’s core strategy remains the 3 Summits. In 2018, the Bank has been facing challenges in various aspects including changes to consumer behavior and digital technology which started to impact the banking sector sooner than expected. At the same time, the Bank’s mission to support the government’s policies and projects is important and urgent. These factors force the Bank to adjust so as to keep up with the accelerated pace of changes and manage resources efficiently to allow the Bank to compete commercially while continuing to serve as the state’s commercial bank. Therefore, the Bank must accelerate its operation of the 3 main missions under the 3 Summit Strategy at the same time.
Mission 1 Continuously attempt to lay strong foundation to prepare for the future
e.g. improve loan quality and ensure cautious risk management; develop human resources management process so that it is suitable for the changing competitive context; improve the organization’s corporate governance and increase the efficiency of work procedure and important infrastructure such as IT and data system, etc.
Mission 2 Increase the efficiency of core business operation and support the government’s operation
e.g. close the gap between the Bank and peers in terms of profit, market share and efficiency; change selling approach from offering products to offering solutions that comprehensively respond to the needs of customer and create cross selling opportunities, etc.
Mission 3 Create potential business opportunities from KTB Digital
e.g. change organizational structure and train employees to prepare for business operation in the age of digital; create innovations through Innovation Lab – a new Group within the Bank to develop technologies and present innovations; adjust the branch format so that it is modern and able to accommodate changing consumer needs as well as creating ecosystem that allow the Bank to expand and further its business.