BAM-3M25-Listed Company Snapshot-EN

BAM : BANGKOK COMMERCIAL ASSET MANAGEMENT PUBLIC COMPANY LIMITED

3M/2025 (Jan - Mar 2025)

Our core businesses consist of 2 main business units:

1. Non-Performing Loans Management Business (NPLs):

We purchase NPLs from financial institutions in Thailand, including banks and other asset management companies, and manage NPLs through debt-restructuring negotiations with debtors to reach optimal solutions for all stakeholders where possible. Our NPLs are mostly collateralized by real estate.

2. Non-Performing Assets Management Business (NPAs):

We acquire NPAs through various means, such as negotiating with debtors for the transfer of the underlying collateral in satisfaction of debt, foreclosing on the collateral underlying our NPLs, and purchasing NPAs directly from financial institutions. For NPAs management, the company has developed and renovated the NPAs to ensure their readiness for utilization and boost their salability.

	3M25	3M24	2024	2023

Revenues	2,977.48	3,068.16	12,782.54	12,004.59
Expenses	2,713.95	2,549.66	10,862.93	10,161.04
Net Profit (Loss)	216.77	423.41	1,601.64	1,534.50

Assets	138,812.53	136,745.22	140,634.71	137,314.51
Liabilities	94,377.95	92,686.29	96,409.94	93,685.30
Shareholders' Equity	44,434.58	44,058.93	44,224.77	43,629.20

Operating	1,448.51	361.32	1,451.28	-6,028.31
Investing	-32.76	-6.38	-755.47	-169.45
Financing	-2,048.47	-1,195.12	-680.56	1,197.16

EPS (Baht)	0.07	0.13	0.50	0.47
GP Margin (%)
NP Margin (%)	7.28	13.80	12.53	12.78
D/E Ratio (x)	2.12	2.10	2.18	2.15
ROE (%)	3.15	3.84	3.65	3.51
ROA (%)	3.61	3.70	3.73	3.52

The company, as a leader of the country's asset management sector, is committed to revitalizing assets to drive the Thai economy and society towards sustainable growth, with the goal of uplifting its role to become Business Recycling Machine which conducts transparent business operations and adheres to good governance while accelerating strong organizational growth with the 3P strategy, namely:

People (value creation for shareholders, debtors and customers, and employees)
Partnerships (extensive network of business alliances)
Platforms/Process (digital transformation/ work efficiency enhancement)

The company has established a sustainability-driven business strategy framework that aligns with its overall business strategy. This framework is founded on good corporate governance and responsibility toward society and the environment (ESG), addressing the organization’s material sustainability issues, as well as contributing to the achievement of the United Nations Sustainable Development Goals (SDGs). The company believes that sustainable development and responsible growth, with consideration for the interests of all stakeholders are key to creating long-term value for the organization.

The company has NPLs under management (including JV AMCs’) worth Baht 516,608 million and assets for sale (NPAs) worth a total of Baht 74,669 million.
On March 24, 2025, TRIS Rating Co., Ltd. (TRIS Rating) assigned a rating of “A-” to the company and its senior unsecured debentures with a “Negative” outlook. The rating at “A-” reflects the company’s long experience and leadership in the non-performing asset management market and also indicates the company's moderate debt burden and diversified funding sources.

Q1/2025, the separate financial statements showed a net profit of Baht 209 million, a decrease of 50.6% from the same period of the previous year while the consolidated financial statements showed a net profit of Baht 217 million, down 48.7% from the same period last year.
Collection (excluding JVs’) of Baht 3,192 million, down 9.7% from the same period last year. NPLs collection was recorded at Baht 1,955 million, a drop of 9.9% from the same period last year, mostly due to the slowdown in the restructuring of new TDR debts. But the debt repayment ability of existing TDR debtors tended to be stable.
For NPAs sale, the collection was Baht 1,237 million, decreasing by 9.5% from the same period last year. Sales of residential properties increased by 5.2% from the same period last year while sales of commercial buildings and investment properties contracted by 15.5% from the same period last year. The company had an average selling price to appraisal value of 88.5% (2024: 86.3%). more details

On January 20, 2025, BAM and ARI AMC signed a memorandum of understanding with the Institute for Education and Development of Conflict Management by Peaceful Means (I.D.P.). The three organizations aim to collaborate in developing, promoting and supporting the effectiveness of alternative dispute resolution methods, such as mediation, arbitration, and other processes that can help reduce the burden on the court and promote peace in society, which will strengthen good relations between the organizations and the public.

The company recognizes the importance of risk management and has developed the company’s enterprise risk management policy to serve as a risk management framework, taking into account the objectives and goals of the company’s business operations. The enterprise risk management policy is reviewed on a regular basis and covers key business risks at present as well as emerging risk and environmental, social and governance (ESG) risks in accordance with the regulations of the Bank of Thailand and the Stock Exchange of Thailand. The company has put in place the integrated risk management under the COSO ERM framework and ensured the integration of the governance, risk management and compliance (GRC) practice into its operations.

The company received awards and achievements which reflect success in the intention to conduct business and in sustainable development. more details

as of 31/03/25	BAM	FIN	SET
P/E (X)	12.01	16.14	15.78
P/BV (X)	0.43	1.12	1.10
Dividend yield (%)	5.88	2.68	4.37

	31/03/25	30/12/24	28/12/23
Market Cap (MB)	19,230.65	19,715.46	26,341.14
Price (B/Share)	5.95	6.10	8.15
P/E (X)	12.01	12.81	13.57
P/BV (X)	0.43	0.45	0.61

A- with a negative outlook by TRIS Rating

Financial Institutions Development Fund (45.79%)

Thai NVDR Company Limited (2.91%)

SOUTH EAST ASIA UK (TYPE C) NOMINEES LIMITED (2.21%)

Vayupak Fund 1 (0.87%)

MRS. HATAIRATN JURANGKOOL (0.45%)

Others (47.77%)

http://www.bam.co.th

ir@bam.co.th

0-2267-1900

99 Surasak Rd, Silom, Bang Rak Bangkok 10500

Other Trading Info. : https://www.settrade.com/C04_01_stock_quote_p1.jsp?txtSymbol=BAM

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