Mr Mongkol said ttb's service is expected to create greater opportunities for vulnerable groups to gain fairer and more reasonable access to credit.
TMBThanachart Bank (ttb) has launched a new motorcycle loan business targeting underserved customers, aiming to improve their access to funding.
The service is operated under ttb Leasing Co and focuses on individual customers, including salaried workers, freelancers and underserved clients. The service is expected to create greater opportunities for vulnerable groups to gain fairer and more reasonable access to credit, said managing director Mongkol Phianphithakkit.
Amid slow growth in the Thai economy and pressure on household incomes, more vulnerable groups from provincial areas are migrating to work in Bangkok, particularly in freelance occupations such as motorcycle taxi service and food delivery.
"These workers rely on motorcycles as essential tools for their livelihoods, but they face difficulties accessing formal credit. With our expertise in auto lending and technology adoption, especially data and artificial intelligence, we aim to facilitate their lending," he said.
