“Leave No One Behind”
Thai Credit becomes a beacon of light for the unserved community in Thailand.
Thai Credit Retail Bank Public Company Limited (“Thai Credit”) was established on 18 January, 2007 and was registered in Bangkok, Thailand. Thai Credit provides unique, simple, and transparent products and services including micro SME products, and nano and microfinance products to small and microenterprises across the country. Thai Credit is committed to provide access to secure financial sources for small business owners in order to improve their quality of life and promote their financial stability.
Thai Credit’s mission is to provide the best financial services to small and micro business customers nationwide; help build knowledge and discipline in “Financial Literacy” to all its customers; create a passionate organization that is proud of what it does; and create Shareholders’ Value and respect the stakeholders’ interests.
Thai Credit recognizes the importance of sustainable banking and therefore operates under the dimensions of ESG, namely environmental, social and employee, and governance, in order to generate long-term growth for the business and society. The Bank aligned its ESG action priorities with the United Nations’ Sustainable Development Goals (SDGs), adhering to 8 of the 17 SDGs, among which are to ensure inclusive and equitable quality education and promote lifelong learning for all and to reduce inequality within and among countries.
To ensure accountability, the Bank established the Corporate Governance and Sustainability Development Committee to oversee the Bank’s ESG operations. The chief executive officer is responsible for ensuring business operations consider the dimensions of environment and climate change. The Bank also set up the Environment and Social Management System (ESMS) and integrated ESG considerations into the customer’s due diligence and process as specified by the Bank.
Apropos of its philosophy, “Everyone Matters”, Thai Credit established the human right policy and is committed to respect all internationally recognized human rights standards, including International Bill of Rights and the International Labour Organization’s (“ILO”) Declaration on the Fundamental Principles and Rights at Work. The Bank also specifies its expectations of personnel, business partners and other relevant parties in complying with human right standards.
One of the best ways to uplift the current situation of unserved individuals is by elevating their financial literacy. Thai Credit promotes financial literacy and also measures, improves, and tracks the impact of financial literacy promotion delivered through its products and services. Achieving financial literacy can help individuals to avoid making poor financial decisions. It can help them become self-sufficient and achieve financial stability.
Thai Credit also wrote the Corporate Governance Policy and related policies to ensure that the Bank’s management is conducted under good governance and effective internal controls. The Bank encourages risk-conscious corporate behavior and culture. The Bank’s fairness and transparency are in accordance with national and international standards.
Thai Credit has, through its corporate social responsibility projects, fostered environment empowerment, social empowerment, and financial empowerment. Specific projects the Bank has undertaken are implementing energy-saving measures in bank offices to reduce electricity consumption; implementing a recycling and upcycling project to promote environmental sustainability and reduce waste, fostering a positive work environment that promote diversity, prohibit discrimination, and uphold human rights, prioritize the development and promotion of
employee well-being and career growth, provide fair product and services aligning with Market Conduct, setting up Risk Management and Credit Policy Control and embracing responsible lending practices.
Ultimately, Thai Credit’s goals are to advocate and raise awareness about the importance of the environment; generate opportunities and facilitate access to high-quality education for young people; support community development, and promote local products, arts, and culture; promote equal access to financial services and funding for all, through inclusive and accessible innovations; and promote financial literacy and discipline to drive economic growth.