Mr Arak says Card X, which provides credit card and personal loan services, has strong growth potential.
SCB X, the financial technology conglomerate and holding company of Siam Commercial Bank (SCB), expects to maintain single-digit loan growth for its Gen 2 businesses under a cautious strategy despite their strong growth potential.Arak Sutivong, deputy chief executive of SCB X, said the company has gradually expanded lending and the overall operations of its Gen 2 subsidiaries, which provide consumer and digital finance services, amid mounting economic challenges both domestically and globally.
The Gen 2 businesses include Card X, Auto X, Monix, Abacus Digital and Alpha X. In the first quarter of 2026, the segment's combined loan portfolio totalled 169 billion baht, up 6% from 159 billion baht at the end of last year.
"The Gen 2 businesses are considered a key driver of the company's future growth. Although they have strong growth potential following adjustments to their business models, we want to maintain single-digit loan growth under a cautious approach that aligns with the economic environment," he said.
At the beginning of the year, SCB X believed its Gen 2 businesses were ready to expand independently after 1-2 years of refining and adjusting their business models. However, the outbreak of the war in the Middle East and its prolonged impact, coupled with Thailand's high level of household debt, prompted the company to adopt a more cautious growth stance.
