Thai Credit Bank PCL has operated as a commercial bank for more than 18 years, offering a wide range of financial and investment services. Thai Credit Bank continues to focus on providing loans to Micro, Small, and Medium Enterprises (MSME) and Nano and Micro Finance for small businesses. This caters to the grassroots entrepreneurs, the backbone of the country, who often find it challenging to access financial services, including home loan and digital financial transaction channels (Digital Platform).
| 2023 | 2022 | 2021 | 2020 |
|---|
| Revenues | 16,604.31 | 13,451.43 | ||
| Expenses | 12,145.40 | 10,491.59 | ||
| Net Profit (Loss) | 3,556.78 | 2,352.52 |
| Assets | 163,444.33 | 143,189.47 | ||
| Liabilities | 145,939.20 | 128,807.89 | ||
| Shareholders' Equity | 17,505.13 | 14,381.58 |
| Operating | -4,286.36 | -3,999.52 | ||
| Investing | -357.13 | 2,634.15 | ||
| Financing | 4,652.85 | 1,405.04 |
| EPS (Baht) | 3.05 | 4.56 | ||
| GP Margin (%) | ||||
| NP Margin (%) | 21.42 | 17.49 | ||
| D/E Ratio (x) | 8.34 | 8.96 | ||
| ROE (%) | 22.31 | 16.36 | ||
| ROA (%) | 4.58 | 3.21 |
Thai Credit Bank PCL strives to be the number one among small and micro business customers with a unique business model and meet the real demands of Thai people across all regions by focusing on 3 key growth strategies in 2023; 1) Growth in core product, 2) Digital transformation, and 3) Growing the new business, which is in line with the Bank’s long term operational plan for efficient management and continued growth.
In 2024, Thai Credit target to achieve double-digit loan growth in 2024, with a net interest spread of 8.0-8.2%, a consistent cost-to-income ratio, and gross NPLs ratio of less than 4.5%. However, Thai Credit remains more discipline on lending, prudent in loan portfolio quality monitor and risk management, and leverage more digital transformation to increase the overall efficiency, preserve the bank's financial stability and improve the capacity to withstand threats in the future.
Thai Credit is a commercial bank that adheres to its vision and mission that focuses on conducting business on the basis of sustainable growth by providing the best financial services to support customers grow their business and improve people's quality of life with the bank's unique microfinance services and elevate the financial status in a sustainable manner, including helps contributes to the economy and society, in line with the bank's philosophy, “Everyone Matters”.
In addition, Thai Credit places importance on improving the quality of life and financial knowledge for communities and society and being a middle enterprise in driving change towards the sustainable development goals through various Thai Credit’s initiatives and dedication to regularly conducting business responsibly.
In 2023, Thai Credit’s net profit recorded a new high of THB 3,556.8 million, increased 51.2% YoY. Interest income increased by 20.6% YoY, in line with the 18.8% increase in gross loans, mainly from an increase in loans in all main segments especially Micro SME loans (+17.7% YoY), Nano and Micro loans (+16.4% YoY), and Home loans (+18.3% YoY).
Net interest margin in 2023 is at 8.2%, slightly decreased from the previous year due to an increase in the average financial costs. However, ROE in 2023 increased from 18.94% to 22.31%.
In 2023, Thai Credit’s interest income increased 25.3% YoY due to the increase in interest income from loans to customers. While, interest expenses increased 57.1% YoY, primarily attributable to interest expenses on deposits, following the BOT’s policy rate and contributions to the Financial Institutions Development Fund from 0.23% to a normal rate of 0.46%. As a result, net interest income increased by 20.6% from the same period last year.
Other operating expenses increased by 11.5% YoY due to the increase in employee expenses, online marketing and equipment expenses. The cost to income ratio, however, decreased from 39.5% in 2022 to 36.7% in 2023 due to improved work efficiency.
In addition, Thai Credit set its expected credit loss at 4,062.4 million in 2023, an increase by 5.9% YoY. The expected credit loss to average loan of Thai Credit to decrease to 294 basis points. Hence, net profit was THB 3,556.8 million, increased by 51.2% from the previous year, and EPS recorded at 3.05 Baht per share in 2023, increased from 2.28 Baht per share in 2022.
- Obtained a full commercial banking business license from the Ministry of Finance on August 17, 2023
- Launch of a collaboration project with Ascend Nano Company Limited o expanded its personal revolving loans products to new target groups (salaried employee)
- A financial agreement with International Financial Corporation (IFC), one of the world leaders in sustainable lending service provider for a long-term loan amount of USD 105.0 million.
- Opened 2 new deposit branches, a total of 28 branches.
Risk management is key to Thai Credit's stable and sustainable growth. Thai Credit has a risk management plan which focuses on developing and strengthening risk management systems across several areas to ensure that all essential processes are covered, and in line with the BOT's risk oversight guidelines. The risk management plan provides possible mitigation measures to challenges arising from loan quality, especially in a situation caused by an external factor beyond the control of Thai Credit.
Besides, established its organizational structure considering the balance of power and efficient operational processes. It has also adhered to the principles of good corporate governance, implemented a risk reporting system, and put in place suitable risk management tools and processes to manage risks effectively. Also, encouraged all its employees to inform themselves of operational procedures relating to risk management and about their duties and responsibilities, through the publication of a risk management policy, relevant trainings, and supervision in each business unit.
- The ACES 2023 reward (Asia Corporate Excellence & Sustainability Awards) – in category of Top community centric companies in Asia.
- The national runner-up award in "The 6th National Leader in Rural Development and Poverty Eradication" of the Ministry of Interior
| as of 31/12/23 | CREDIT | BANK | SET |
|---|---|---|---|
| P/E (X) | N/A | 7.96 | 18.42 |
| P/BV (X) | N/A | 0.66 | 1.36 |
| Dividend yield (%) | N/A | 4.19 | 3.32 |
| 31/12/23 | - | - | |
|---|---|---|---|
| Market Cap (MB) | N/A | N/A | N/A |
| Price (B/Share) | N/A | N/A | N/A |
| P/E (X) | N/A | N/A | N/A |
| P/BV (X) | N/A | N/A | N/A |