United Overseas Bank (Thai) or UOBT plans to formally offer a car title loan service next year as part of its business expansion.
The bank piloted the Car2Cash car title loan service and is planning the official launch early next year to meet customer demand, UOBT head of retail and brand Vira-Anong Chiranakhon Phutrakul said in an exclusive interview with the Bangkok Post.
"We see a greater business opportunity in the car title loan segment, in line with positive demand from customers. Bank clients who own cars require additional liquidity for different business and personal purposes," Mrs Vira-Anong said.
UOBT has no plans to offer auto hire-purchase loans, concentrating on financial products and services that correspond to real demand from customers, she said.
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