Ngern Tid Lor: Building a Successful Title Loan Business based on ‘Empathetic Lending’
Ngern Tid Lor (NTL) is a Thai title lending company and insurance broker on a mission to make fund sourcing faster, simpler, transparent, and more approachable across Thailand, especially for unbanked and underbanked Thais.
In Thailand, as many as 70% of Thai adults rely on informal lending, with as much as 41% of household debt in Thailand was “underground debt” borrowed from loan sharks. To transform an industry with rampant predatory practices to one with responsible lending at its core, Managing Director Piyasak Ukritnukun’s foundational principles were to do no harm, improve accessibility, and lend with empathy. To achieve this, he has embarked on a mission to embed impact into the fabric of NTL and drive change across Thailand's microfinance ecosystem.
Leading by example, the NTL team developed lending practices that were focused on delivering positive impact to its borrowers, while capitalising on the commercial opportunity present in providing auto title loans. When NTL listed on the Stock Exchange of Thailand (SET) in May 2021, it was the largest ever IPO in the Finance and Securities Sector.
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