The Bank for Agriculture and Agricultural Cooperatives (BAAC) has upgraded its A-Mobile banking app's capacities and renamed it A-Mobile Plus to facilitate rising numbers of customers and transactions.
The upgraded version offers new and more convenient features, according to the bank president Tanaratt Ngamvalairatt.
He said the upgrades would help the bank move towards its aim of becoming a digital bank, in line with the government's goal of creating a cashless society.
BAAC launched the A-Mobile app in 2018. The app has 3.8 million users and accumulated transactions of more than 497 million, worth 1.59 trillion baht.
For its 2022 accounting year, which started on April 1, total transactions on the app stood at 132 million, worth 380 billion baht, said Mr Tanaratt.
App users can open deposit accounts, apply for loans, buy BAAC savings lottery tickets, and make cardless cash withdrawals at ATMs and cash deposit machines.
The app is making BAAC digital savings lottery tickets available from Nov 17 at a price of 50 baht per unit, worth a total of 30 billion baht, he said.
The lottery offers interest of 0.070 baht per unit after two years.
During the first half of its 2022 accounting year, the bank extended more than 368 billion baht in loans to farmers, said Mr Tanaratt.
He said farmers have been suffering from rising production costs and energy prices in recent months.
The bank has accumulated loans outstanding of 1.60 trillion baht and savings of roughly 1.77 trillion baht, said Mr Tanaratt.
BAAC posted net profit of 1.38 billion baht in the first half of the accounting year.
He said the bank would maintain its loan rates, including the minimum loan rate, minimum retail rate and minimum overdraft rate, for as long as possible to prevent a negative impact from higher interest rates affecting its customers.
BAAC aims to reduce its non-performing loans to 7% of its total portfolio by the end of March next year, from the current 12.5%, Mr Tanaratt said.
