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).
| 3M24 | 3M23 | 2023 | 2022 |
|---|
| Revenues | 4,512.73 | 16,604.31 | 13,451.43 | |
| Expenses | 3,960.63 | 12,145.40 | 10,491.59 | |
| Net Profit (Loss) | 449.58 | 3,556.78 | 2,352.52 |
| Assets | 174,225.06 | 163,444.33 | 143,189.47 | |
| Liabilities | 154,396.24 | 145,939.20 | 128,807.89 | |
| Shareholders' Equity | 19,828.82 | 17,505.13 | 14,381.58 |
| Operating | 3,807.52 | -4,286.36 | -3,999.52 | |
| Investing | -5,573.85 | -357.13 | 2,634.15 | |
| Financing | 1,815.31 | 4,652.85 | 1,405.04 |
| EPS (Baht) | 0.37 | 3.05 | 4.56 | |
| GP Margin (%) | ||||
| NP Margin (%) | 9.96 | 21.42 | 17.49 | |
| D/E Ratio (x) | 7.79 | 8.34 | 8.96 | |
| ROE (%) | 15.78 | 22.31 | 16.36 | |
| ROA (%) | 3.82 | 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 2024; 1) Growth in core product, 2) Digital transformation, and 3) Growing the new business, which is in line with the Bank’s long-term plan.
In 2024, Thai Credit target double digit loan growth, NIM at 8.0-8.5%, CIR stable, and NPLs ratio at 4.5%. However, we remain more discipline on lending, prudent in asset quality monitor and risk management, and leverage more digital transformation to increase the overall efficiency, preserve the 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, including contributes to the economy and society, in line with the bank's philosophy, “Everyone Matters”.
1. Thai Credit under Tang To Know-How entering 8th years. In the 1Q/2024, there were 13,458 people attending training through the learning center, online systems, and off-site training.
2. Thai Credit SME Klahai organized a training course for MSME business executives, on the topic "Accounting for SMEs Entrepreneurs", developed by NIDA to update knowledge and develop new skills as a tool for expanding business.
3. Thai Credit signed the MOU with Department of Community Development, Ministry of Interior, to drive the mission to provide knowledge and develop financial discipline to government officer.
In 1Q/2024, Thai Credit’s net interest income increased 16.4% from the previous year, mainly from loans that are still growing 12.0%. Moreover, Thai Credit also has efficient operations, the cost to income ratio remained at low level of 38.1%.
In 1Q/2024, Net interest margin was solid at 8.7%, same as the previous year, and ROE was still high at 17.7%. However, Thai Credit increased its allowance for expected credit losses by 2.3% YoY due to the conservative operational policies to address potential future economic uncertainties.
Thai Credit's net interest income recorded at THB 3,544.3 million in 1Q/2024, increased by 16.4% YoY, mainly from interest income increased 20.4% to THB 4,352.6 million, primarily due to interest income from loan to customers increased 18.8% YoY, as a result of the growth in all Thai Credit's key loan product segments.
Thai Credit’s interest expenses in 1Q/2024 increased 41.4% to THB 808.3 million, primarily attributable to interest expenses on deposits which increased from the increase in deposit interest rates following the BoT’s policy rate. However, net profit attributable to owner recorded at THB 449.6 million, decreased 51.5% YoY. This decrease was caused by higher expected credit loss of loan stage 2, which considered as a one-time impact.
- Thai Credit successful listed in the Stock Exchange of Thailand under Financials/Banking sector, symbol of “CREDIT”, which was the first commercial bank to raise capital (IPO) in the past ten years.
- Thai Credit announce new partnership synergy with Aberdeen Asset Management (Thailand) Limited to develop products and provide sustainable investment solution by adding a channel for selling mutual funds through Thai Credit Bank.
- Thai Credit launched loan program for online retailers, or merchants who sell products through various online platforms
- Thai Credit opened one new deposit branches. Currently, there are a total of 29 deposit 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.
- Thai Credit was ranked the 7th bank of the year 2024 from Money & Banking Magazine and ranked the 1st for Return on Asset (ROA) and Return on Equity (ROE)
- Thai Credit won the Most Innovative SME Bank from International Finance Awards 2023
| as of 29/03/24 | CREDIT | BANK | SET |
|---|---|---|---|
| P/E (X) | 9.25 | 7.45 | 18.10 |
| P/BV (X) | 1.70 | 0.64 | 1.33 |
| Dividend yield (%) | - | 5.81 | 3.38 |
| 29/03/24 | - | - | |
|---|---|---|---|
| Market Cap (MB) | 32,883.49 | N/A | N/A |
| Price (B/Share) | 26.75 | N/A | N/A |
| P/E (X) | 9.25 | N/A | N/A |
| P/BV (X) | 1.70 | N/A | N/A |