Consumer credit company Krungthai Card is diversifying into the five-billion-baht wedding industry.
Niwatt Chittalarn, the president and chief executive officer of Krungthai Card, said the wedding industry has grown significantly in recent years.
''Based on our data, most newlyweds spend an average of 300,000 to 400,000 baht,'' he said. ''From our experience, we realise that loans and credit card transactions involving weddings constitute a huge amount of money.''
KTC will partner with hotels, airlines, jewelry retailers and other partners to offer wedding arrangement services.
''The focus is on new and exciting themes that our members should find are intimate and impressive. Weddings can be small or large for 50 or more guests,'' Mr Niwatt said.
''We are talking about new concepts and new places never before used for weddings,'' he said. ''For example, old palaces that belonged to nobles of the past eras, Lanna Outdoor Museum, houses of prominent figures in the past or even at your home, which we can dress up very nicely.''
KTC plans to spend 25 million baht for its KTC VIVA Valentine's 2008 programme. The contest will offer 14 free wedding packages featuring balloon rides in Chiang Mai from Feb 13-17. Ten couples will be selected from Thailand and four others from abroad.
The contest requires applicants to pay a fee of 9,999 baht for Thai citizens and $999 for foreigners, with all revenues to be donated to the Mae Fah Luang Foundation and other charities. Registrations can be made until Dec 10.
Mr Niwatt said the wedding arrangement service will generate new revenues for the company. KTC expects non-interest income to eventually rise to 50% of total revenues from 40% now.
KTC, a unit of Krung Thai Bank, reported third-quarter net profit of 169 million baht, up 28% from the same period last year, with revenues up 32% year-on-year to 2.77 billion baht.
KTC shares on the stock exchange closed yesterday at 29.75 baht, up 75 satang, in trade worth 5.81 million baht.
Niwatt Chittalarn, the president and chief executive officer of Krungthai Card, said the wedding industry has grown significantly in recent years.
''Based on our data, most newlyweds spend an average of 300,000 to 400,000 baht,'' he said. ''From our experience, we realise that loans and credit card transactions involving weddings constitute a huge amount of money.''
KTC will partner with hotels, airlines, jewelry retailers and other partners to offer wedding arrangement services.
''The focus is on new and exciting themes that our members should find are intimate and impressive. Weddings can be small or large for 50 or more guests,'' Mr Niwatt said.
''We are talking about new concepts and new places never before used for weddings,'' he said. ''For example, old palaces that belonged to nobles of the past eras, Lanna Outdoor Museum, houses of prominent figures in the past or even at your home, which we can dress up very nicely.''
KTC plans to spend 25 million baht for its KTC VIVA Valentine's 2008 programme. The contest will offer 14 free wedding packages featuring balloon rides in Chiang Mai from Feb 13-17. Ten couples will be selected from Thailand and four others from abroad.
The contest requires applicants to pay a fee of 9,999 baht for Thai citizens and $999 for foreigners, with all revenues to be donated to the Mae Fah Luang Foundation and other charities. Registrations can be made until Dec 10.
Mr Niwatt said the wedding arrangement service will generate new revenues for the company. KTC expects non-interest income to eventually rise to 50% of total revenues from 40% now.
KTC, a unit of Krung Thai Bank, reported third-quarter net profit of 169 million baht, up 28% from the same period last year, with revenues up 32% year-on-year to 2.77 billion baht.
KTC shares on the stock exchange closed yesterday at 29.75 baht, up 75 satang, in trade worth 5.81 million baht.
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