Strategic Plans and Key Operations
Krungthai 3 Summits Strategy
In 2019, Krungthai Bank continues to adhere to the Three Summits strategic plan as an operation plan with the intention to uphold the role and mission to support government sector in various fields so that Thai economy can grow and reach higher potential. The emergence of new challenges, for example, change in customer behavior and digital technology, also quickly start to affect the banking sector in many aspects. As a result, the Bank has to adjust itself to the fast changes and allocate resources efficiently so as to compete in the business along with constantly supporting the government sector. Accordingly, the Bank has to accelerate the three main missions under the Three Summits strategic plan simultaneously.
Mission 1 Lay a solid foundation to prepare for the future
For example, the Bank has managed loan growth efficiently along with managing risks more tightly. The Bank also aims to develop human resources management process to be suitable for the changing competitive context. Moreover, the Bank also focuses on elevating the level of corporate governance and increasing the efficiency of work processes and important infrastructure such as IT and data system.
Mission 2 Create appropriate profits and upgrade products to provide full-fledged services.
For instance, the Bank utilizes business opportunities from supporting the government’s policies to further expand customer base to be more accessible and comprehensive. Consequently, the Bank also increases the opportunity to sale other products (cross selling) through the use of innovation to offer products and services in a form of solution which can fully meet customers’ need, including developing an omni-channel to provide services and enhance good experiences for customers.
Mission 3 Creating future business growth through Krungthai Future Banking
For example, the Bank creates innovation via Innovation Lab – the new unit established for technology development and utilizing innovation in core business operations, including IT system, data usage and internal process improvement. Furthermore, the Bank also creates targeted ecosystems namely Government, Payment, Health and Wellness, Education and Mass Transit, with the purpose to expand business to cover full-fledged services for all groups.