KASIKORNBANK (KBank) is collaborating with PTT Oil and Retail Business Public Company Limited (OR) in launching emergency relief measures for SMEs and retail clients reeling from the present surge in oil prices. The measures aim to ease customers’ burdens in light of soaring commuting expenses and energy costs, especially for hard-hit transport and logistics-related businesses. The relief measures are designed to meet the needs of each SME customer, while each retail client who refuels their car at a PTT Station and pays with their PTT Blue Credit Card or via the Blue CONNECT app will get cash back of up to 100 Baht.
Mr. Krit Jitjang, KBank President, said that the ongoing Russia-Ukraine conflict has driven up operators’ costs in various manufacturing sectors, particularly transportation and logistics that are heavily dependent on oil, while general customers are having to cope with higher travel expenses. With this in mind, KBank has introduced urgent relief measures for customers using services at PTT stations of PTT Oil and Retail Business Public Company Limited (OR), which is KBank’s important business partner.
“For SME customers, KBank is ready to consider appropriate assistance measures for each of them, including loans to help boost their liquidity and a grace period for principal payment, with the exception of interest payment. Customers can contact their KBank Relationship Manager for convenient and swift service. The assistance program will be available from April 1 to May 31, 2022. In order to alleviate retail customers’ financial burdens stemming from oil prices that are rising every day, KBank will be providing assistance with their fuel expenses. Customers who refuel their vehicle at a PTT Station and pay with their PTT Blue Credit Card will receive one cash back of up to 100 Baht/person throughout the duration of the program. This urgent relief measure will be in effect from March 15 to April 30, 2022. Meanwhile, customers paying via the Blue CONNECT app will get cash back of up to 100 Baht/person/month from April 1 to May 31, 2022.” Mr. Krit elaborated.
Mr. Wison Suntharachan, Senior Executive Vice President for Corporate Strategy, Innovation and Sustainability of PTT Oil and Retail Business Public Company Limited (OR), said that global oil prices are tending to see larger fluctuations, and that will naturally warrant close attention. OR sincerely hopes that this collaboration with KBank will help to ease the cost burden of both businesses and the general population, whose cost of living has been further impacted by soaring oil prices due to the ongoing Russo-Ukrainian crisis.