Thai credit card firm Krungthai says clients rising

BANGKOK, Nov 11 (Reuters) - Krungthai Card KTC.BK, Thailand's top credit card issuer, said on Wednesday it expected to add about 180,000 new cards this year, above its target, and up to 200,000 next year as it sought wealthier customers.

"The increase will be helped by demand from certain customer groups, especially top-tier people. And the launch of many marketing campaigns also pushed up new card issues," Senior Executive Vice President Woravut Nisapakulthorn told reporters.

Krungthai Card, which is 49.5 percent owned by number two lender Krung Thai Bank KTB.BK, has a 19 percent market share with 1.6 million cards issued in Thailand.

Earlier this year, the company expected to add only 100,000 net new cards in 2009 due to weak consumer confidence. In recent years it has averaged 200,000.

Credit cards account for 70 percent of its 50 billion baht loan portfolio. Personal finance and small company loans make up the rest.

Average card spending per month remained weak, Woravut said, adding it had risen only 5-10 percent so far this year compared with 20 percent a year earlier.

Krungthai Card TC is forecast to report a 19 percent fall in 2009 net profit to 423 million baht ($12.7 million), according to three analysts polled by Thomson Reuters I/B/E/S.

It reported a net profit of 201 million baht in the first six months.

Its main rivals are the third-biggest bank, Siam Commercial Bank SCB.BK, and Kasikornbank KBAN.BK, the fourth-biggest lender, as well as the Thai units of Citibank (C.N) and Standard Chartered Bank (STAN.L).

At the midday break, its shares were up 0.72 percent at 13.90 baht, while the main Thai index .SETI was 0.69 percent higher. ($1=33.30 Baht) (Reporting by Manunphattr Dhanananphorn; Writing by Arada Kultawanich; Editing by Alan Raybould)