On May 27, Krung Thai Bank Public Company Limited (SET: KTB), in partnership with Advanced Info Service Public Company Limited (SET: ADVANC) and PTT Oil and Retail Business Public Company Limited (SET: OR), is set to officially launch the virtual bank “CLICX.” The initiative is a major milestone in expanding digital financial services throughout Thailand, with the goal of providing greater access to funding for the public and underserved small entrepreneurs.
Payong Srivanich, President of KTB, highlighted that CLICX will prioritize customers who are either underserved or unbanked—those without access to traditional banking services due to lack of collateral or irregular income. The focus includes small entrepreneurs, online vendors, and small SMEs in need of working capital and liquidity.
CLICX will utilize advanced technology, tapping into KTB’s substantial database of more than 40 million users (including the “Pao Tang” app), alongside ADVANC and OR’s customer information, to assess financial behavior and customize financial solutions. This data-centric approach is designed to facilitate greater access to credit for those previously denied by traditional banks and is part of efforts to address informal debt through more effective risk assessment.
Beyond lending, CLICX aims to foster the country’s digital economy and drive growth in wealth technology, providing citizens of all economic backgrounds with equal, convenient, and sustainable access to savings, investment, and other financial products.
Lavaron Sangsnit, Permanent Secretary of the Ministry of Finance and Chairman of KTB, added that the bank is committed to advancing technology and artificial intelligence responsibly, driving the virtual bank forward, and expanding services beyond traditional banking to bridge future funding gaps.
Krungsri Securities (KSS) viewed the partnership and the CLICX license as pivotal for KTB’s long-term growth and as a significant leap in Thailand’s transition to digital banking. The strength of CLICX is its integration of three large customer ecosystems—telecom, retail, and financial—enabling efficient development of innovative products and the expansion of the customer base.
The analyst estimated that for the first one to two years, the virtual bank’s strategy will focus on onboarding new digital customers, especially among the unbanked and underbanked, before diversifying revenue streams with a broader product offering. However, KSS noted that high technology investment costs and potential asset quality risks may result in initial losses and higher non-performing loan rates than conventional banks.
Nonetheless, the benefit of lower operating costs—thanks to the branchless model—should help drive efficiency and competitiveness in the long run. KTB’s move is seen as a strategic effort to generate new revenue streams and adapt to changing consumer behavior in an increasingly digital financial landscape.
CGS International Securities (Thailand) analysts further add that access to alternative data through ADVANC and OR will enhance KTB’s credit assessment accuracy and efficiency, opening opportunities to serve more retail and SME clients who lack regular income documentation but present significant growth potential. Additionally, continued growth in wealth management fee income is set to further bolster KTB’s long-term revenue.
