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).
| 9M24 | 9M23 | 2023 | 2022 |
|---|
| Revenues | 13,932.63 | 12,135.42 | 16,604.31 | 13,451.43 |
| Expenses | 10,878.76 | 8,615.22 | 12,145.40 | 10,491.59 |
| Net Profit (Loss) | 2,431.59 | 2,816.66 | 3,556.78 | 2,352.52 |
| Assets | 175,105.07 | 159,766.21 | 163,444.33 | 143,189.47 |
| Liabilities | 153,240.61 | 142,959.04 | 145,939.20 | 128,807.89 |
| Shareholders' Equity | 21,864.46 | 16,807.17 | 17,505.13 | 14,381.58 |
| Operating | -1,621.67 | -3,649.77 | -4,286.36 | -3,999.52 |
| Investing | -105.45 | -1,320.97 | -357.13 | 2,634.15 |
| Financing | 1,649.99 | 4,857.58 | 4,652.85 | 1,405.04 |
| EPS (Baht) | 1.99 | 2.42 | 3.05 | 4.56 |
| GP Margin (%) | ||||
| NP Margin (%) | 17.45 | 23.21 | 21.42 | 17.49 |
| D/E Ratio (x) | 7.01 | 8.51 | 8.34 | 8.96 |
| ROE (%) | 16.40 | 20.29 | 22.31 | 16.36 |
| ROA (%) | 4.31 | 4.08 | 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 9M/2024, there were 52,085 people, attending training through the learning center, online systems, and off-site training.
2. Thai Credit aimed to promote a green sociaty, launching a new Green Loan product designed "Kla Hai, Kla Pian", provides funding for MSMEs seeking to adopt eco-friendly practices or invest in sustainable business operations.
In 3Q/2024, Thai Credit’s achieving a new record high net profit of THB 1,161.9 million. This marks a 41.7% QoQ increase and a 17.8% YoY growth. The main driver was the robust expansion of lending. Total loans as of the end of 3Q/2024 stood at THB 157,604.5 million, up 13.8% YoY. Additionally, net interest income rose by 12.2% YoY, aligned with the growth in lending. On the expense management front, the bank maintained a low cost-to-income ratio of 38.8% for the 9M/2024.
NIM for the third quarter was 8.7%, slightly higher than the second quarter, while for the 9M/2024, the NIM remained high at 8.6%.
Thai Credit’s interest income for the 3Q/2024 increased 1.8% from to THB 4,614.2 million. The increased is primarily due to the increase in interest income from loans to customers, as a result of the growth in all Thai Credit's key loan product segments, particularly MSME loan and Home loan.
Thai Credit’s interest expenses for the 3Q/2024 slightly increased 2.0% to THB 864.6 million, primarily due to interest expenses on deposits as a result of the increase in the amount of deposits through promotional programs, especially Alpha Savings Program, including fixed deposits and Thunjai programs.
Thai Credit significantly reduced its ECL as the proportion of Stage 2 and Stage 3 loans to total loans continued to decline. This was especially noticeable in Stage 2 loans, which returned to normal after borrowers consistently made three consecutive payments. Additionally, losses from NPL sales decreased as the bank adjusted its NPL sales strategy due to improving asset quality. As of September 30, 2024, the bank maintained its NPL ratio at 4.5%, which remains manageable.
- Thai Credit launches 'alpha Savings', highlighting the advantages of interest rates of up to 2% per year and easy account opening via the 'alpha by Thai Credit' application
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 achieved distinction in corporate governance by earning an “Excellent” (5-star) rating in the 2024 from IOD
- Thai Credit receives Outstanding CSR Award 2024 by the Department of Social Development and Welfare, Ministry of Social Development and Human Security
- Thai Credit wins Best Innovation in Retail Banking Thailand 2024 Award from The International Banker Magazine, UK
- Thai Credit wins Best SME Bank of The Year 2024 Award from The Global Economics Magazines, UK
| as of 30/09/24 | CREDIT | BANK | SET |
|---|---|---|---|
| P/E (X) | 8.35 | 7.78 | 18.03 |
| P/BV (X) | 1.21 | 0.67 | 1.37 |
| Dividend yield (%) | - | 5.47 | 3.16 |
| 30/09/24 | - | - | |
|---|---|---|---|
| Market Cap (MB) | 25,026.23 | N/A | N/A |
| Price (B/Share) | 20.30 | N/A | N/A |
| P/E (X) | 8.35 | N/A | N/A |
| P/BV (X) | 1.21 | N/A | N/A |
