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).
| 6M24 | 6M23 | 2023 | 2022 |
|---|
| Revenues | 9,188.56 | 16,604.31 | 13,451.43 | |
| Expenses | 7,612.94 | 12,145.40 | 10,491.59 | |
| Net Profit (Loss) | 1,269.72 | 3,556.78 | 2,352.52 |
| Assets | 175,224.33 | 163,444.33 | 143,189.47 | |
| Liabilities | 154,549.81 | 145,939.20 | 128,807.89 | |
| Shareholders' Equity | 20,674.53 | 17,505.13 | 14,381.58 |
| Operating | -1,555.80 | -4,286.36 | -3,999.52 | |
| Investing | -162.54 | -357.13 | 2,634.15 | |
| Financing | 1,661.41 | 4,652.85 | 1,405.04 |
| EPS (Baht) | 1.04 | 3.05 | 4.56 | |
| GP Margin (%) | ||||
| NP Margin (%) | 13.82 | 21.42 | 17.49 | |
| D/E Ratio (x) | 7.48 | 8.34 | 8.96 | |
| ROE (%) | 14.81 | 22.31 | 16.36 | |
| ROA (%) | 3.87 | 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 change to 8.5-9.0%, 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 1H/2024, there were 30,114 people through over 885 training sessions, attending training through the learning center, online systems, and off-site training.
2. Thai Credit provided knowledge on financial goal-setting techniques under the topic “Age 60+: Money Management for Seniors after Retirement”
3. Thai Credit organized the seminar of “With 'Care' for New-Age Entrepreneurs Mindful of the Environment" The purpose to reinforcing the commitment to being a bank that supports environmentally friendly businesses
In 2Q/2024, Thai Credit’s net profit increased significantly 82.4% QoQ to THB 820.1 million. The increase was due mainly to Thai Credit’s ability to maintain continuous loan growth amidst a volatile economy, including the expected credit loss of loan stage 1 and stage 2 which decreased from the acceleration of assistance program for debtors by the debt relief program in 2Q/2024. Moreover, Thai Credit also has efficient operations: the cost to income ratio remained at a low level of 38.3% for 2Q/2024.
NIM in 2Q/2024 remained solid at 8.6%, slightly increasing from 1Q/2024. However, Thai Credit is currently adhering to conservative operational policies to address potential future economic uncertainties.
Thai Credit’s interest income for 2Q/2024 increased 4.1% QoQ to THB 4,533.1 million. The increase was primarily due to the rise in interest income from loan to customers equivalent to THB 170.4 million, as a result of the growth in all Thai Credit's key loan product segments, particularly Micro SME loans and Home loans. Additionally, the increase in interest income from interbank and money market items and investments in debt instruments.
Thai Credit’s interest expenses for 2Q/2024 slightly increased 4.9% QoQ to THB 847.9 million. The increase was primarily due to interest expenses on deposits which increased by THB 34.7 million as a result of the increase in the amount of deposits through promotional programs, especially Alpha Savings Program, including fixed deposits and Thunjai programs. This resulted in the increase of THB 3.8 million in contribution to the Deposit Protection Agency and the BoT compared to the first quarter year 2024. However, Thai Credit has reduced the interest rates for the fixed deposit and Thunjai programs in February 2024.
- Thai Credit join in signing the new scheme, “PGS11” loan guarantee project, with a guarantee limit of THB 50,000 million
- Thai Credit join in signing on the GSB Boost Up Soft Loan Project to support micro-SME entrepreneurs to have access to low-interest loans
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 for the first time listed in Fortune Southeast Asia 500, and ranked 107th for Thai Companies
- Thai Credit received the Honorary Award for the Financial Discipline Campaign 2024, by providing financial knowledge support to women’s group
| as of 28/06/24 | CREDIT | BANK | SET |
|---|---|---|---|
| P/E (X) | 7.07 | 6.94 | 17.05 |
| P/BV (X) | 1.10 | 0.59 | 1.22 |
| Dividend yield (%) | - | 6.17 | 3.53 |
| 28/06/24 | - | - | |
|---|---|---|---|
| Market Cap (MB) | 21,776.12 | N/A | N/A |
| Price (B/Share) | 17.70 | N/A | N/A |
| P/E (X) | 7.07 | N/A | N/A |
| P/BV (X) | 1.10 | N/A | N/A |