TISCO Group announces 1Q23 results with a net profit of 1,793 million baht. Lending business continues to expand. While the capital to risk assets was strong at 23.5% and the reserve for non-performing debt was as high as 248%, preparing to pay a dividend of 7.75 baht per share this May.

Mr. Sakchai Phichaphat, Chief Executive Officer of TISCO Group, revealed that in the first quarter of 2023, TISCO Group had a net profit of 1,793 million baht, considered a stable level. If compared to the same period of the previous year The loan business continued to grow at 0.5% from the expansion of "Somwang Ngern Sang Dai" branches that spread opportunities to various areas across the country, creating growth for registered pawn loans to a wider group of customers. Including large corporate loans that continued to grow well in line with the economic sector that returned to expand. Encourages interest income to increase Including the fee income from the insurance brokerage business growing along with the new loan.

However, the financial cost has increased. This is in line with the policy rate hike direction. and remittances to the Financial Institutions Development Fund (FIDF) that returned to the original rate of 0.46% per year from previously being reduced to 0.23% per year, while the proportion of non-performing debt (NPLs) ) slightly increased in line with loan growth. But it is considered to be at a level that is well controlled. together with a reserve against non-performing debt (Coverage Ratio) of up to 248%, which is sufficient to absorb risks that may arise in the future The capital adequacy ratio (BIS ratio) was strong at 23.5%, higher than the 11.0% minimum capital adequacy ratio set by the Bank of Thailand. and has Tier 1 and Tier 2 capital ratios to risk-weighted assets of 19.8% and 3.8% respectively. In addition, the shareholders' meeting resolved to pay dividends at the rate of 7.75 baht per share, totaling 6,205 baht in the month. This May. – Thai News Agency

Source: Thai News Agency