Bank of Ayudhya-Krungsri
Bank of Ayudhya-Krungsri has a reputation as a leader in corporate social responsibility (CSR) in Thailand. To see why, look no further than its programme to address one of the country’s most glaring problems: burgeoning household debt.
Thailand’s household debt amounted to Bt14.13 trillion ($420 billion), or a hefty 90.5% of GDP, and is at an 18-year high. While the causes are many, one of the contributing factors is a lack of basic financial literacy and responsibility towards sustainable development.
Bank of Ayudhya, known locally as Krungsri, is trying to fix that by equipping future generations with the skills to make the right decisions.
In 2015, the Bangkok lender, led by president and chief executive Seiichiro Akita, founded the ‘Krungsri Financial Literacy: Simple to Learn’ project. In line with Thailand’s national education development master plan, as well as the United Nations Sustainable Development Goals (SDGs), the project promotes basic financial knowledge and saving habits among primary school students, and places special emphasis on understanding smart spending and effective savings through interactive activities and games facilitated by Krungsri volunteers.
Progress