The Company provides loan services to retail customers under the brand "Srisawad Ngern Sod Tun Jai". Business operation of the Company can be classified into 5 main categories:
1) Secured loan against all types of used vehicle, home, and land
2) Unsecured personal loan
3) Asset management
4) Debt collection service
5) Insurance Brokerage Services
| 6M25 | 6M24 | 2024 | 2023 |
|---|
| Revenues | 9,573.15 | 10,740.82 | 21,046.47 | 18,914.53 |
| Expenses | 5,009.23 | 5,839.95 | 11,234.61 | 10,045.03 |
| Net Profit (Loss) | 2,370.12 | 2,526.16 | 5,051.97 | 5,000.80 |
| Assets | 103,025.11 | 114,288.27 | 107,909.14 | 111,464.66 |
| Liabilities | 64,456.39 | 80,502.98 | 71,606.66 | 80,268.03 |
| Shareholders' Equity | 35,411.36 | 30,713.43 | 33,136.82 | 28,177.00 |
| Operating | 6,289.57 | 1,462.64 | 10,776.13 | -20,384.69 |
| Investing | -110.05 | -104.23 | -149.28 | -1,283.03 |
| Financing | -7,849.64 | -57.78 | -8,695.23 | 22,832.25 |
| EPS (Baht) | 1.43 | 1.67 | 3.34 | 3.64 |
| GP Margin (%) | ||||
| NP Margin (%) | 25.64 | 24.20 | 24.92 | 27.78 |
| D/E Ratio (x) | 1.67 | 2.38 | 1.97 | 2.57 |
| ROE (%) | 14.81 | 18.41 | 16.48 | 18.58 |
| ROA (%) | 8.72 | 9.05 | 8.95 | 9.83 |
The Company would like to expand financial services covering all sub-districts across Thailand and also expanding financial services to ASEAN with more new choices of financial products to match particular economic conditions and demand for financing in each country, under cautious risk assessment; and to expand NPL management services as well as debt collection services.
Committed to sustainable organizational development, the Company prioritizes conducting its business by earnestly creating the utmost benefit for all stakeholders, considering the balance of environmental, social, and governance (ESG) aspects alongside achieving its business goals. The Company has been announced as SET ESG Rating of "AA". Given the global environmental impacts due to climate change, the company has taken a stance to drive towards a sustainable future by committing to achieving net-zero greenhouse gas emissions by the year 2593 (2050 AD) as part of its goal to conduct business responsibly towards the environment, society, and governance. This is under the concept of "loans for sustainability," coupled with the importance of creating financial accessibility along with providing knowledge on good financial discipline.
- Portfolio Credit Quality
Continued focus on borrower screening and tight delinquency monitoring is expected to reduce provisioning pressure and minimize losses on sales of foreclosed asset.
- Shift Toward Higher-Yield Products
The Company will adjust its loan portfolio to favor higher-yielding products in response to market competition and risk conditions, aiming to maintain profitability and absorb financial cost pressures.
- Digital Transformation
The e-KYC and Mobile Lending Platform projects have made significant progress and are on track for commercial launch in Q4/2025. These initiatives will streamline loan applications, shorten approval times, and lower long-term acquisition costs.
- Regulatory Compliance and Customer Protection
The Company remains committed to strict compliance with regulatory guidelines and upholding borrower rights, ensuring sustained market trust and brand reputation.
As of the end of Q2/2025, the company had total outstanding portfolio of 93,155 million baht, a decrease of 8.6% YoY and a slight decrease of 0.3% QoQ, mainly due to the tightening of credit policy and continuous quality improvement of the hire purchase portfolio, . However, when considered by product, hire purchase loans and personal loans decreased by 4.4% QoQ due to the contraction of the hire purchase and personal loan portfolios, but title loan and other loans still expanded by 1.6% QoQ. As for net profit in Q2/2025, it amounted to 1,316.54 million baht, an increase of 15.7% from the previous quarter due to optimizing business costs for maximum returns.
Total assets as of June 30, 2025, amounted to 103,025 million baht, a decrease of 9.9% from the same period last year and a decrease of 3.6% from Q1/2025, due to credit policy enhancements and a decrease in foreclosed assets compared to the previous year.
In Q2/2025, the Thai economy continued to face pressure from a slowdown in exports and persistent global economic uncertainty. During the same period, the loan portfolios of commercial banks contracted. Despite this backdrop, the Company maintained stable growth, particularly in its core title loan segment, which remains the primary source of income. Ongoing efforts to manage portfolio quality, combined with effective cost control.
SAWAD Group emphasizes the significance of risk management; therefore, the Company arranges business performance evaluation and risk assessment to examine certain risks that may have impact
on the Group’s business operation. The performance evaluation and risk assessment is arranged at least once annually. In light of the risk assessment, the Company’s management analyzes possible risks in different areas before reporting them to the Board of Directors for the board’ s acknowledgement. In addition, the management also provides some suggestions to limit risks or keep
risks under acceptable levels. Should there be any risks that may possibly impede potential achievement of the targeted business goals, the Group needs to seek measures to manage these risks.
SAWAD has been included in the SET100 Index for the second half of 2025. Additionally, the Company recently received an "Excellent" from the Corporate Governance Rating for the year 2024 from the Thai Institute of Directors Association, supported by the Stock Exchange of Thailand (SET). Furthermore, it also received a SET ESG Rating of "AA" and was named Best Company of the Year 2024 by Money & Banking Magazine.
| as of 30/06/25 | SAWAD | FIN | SET |
|---|---|---|---|
| P/E (X) | 5.47 | 15.95 | 14.76 |
| P/BV (X) | 0.78 | 0.96 | 1.03 |
| Dividend yield (%) | 0.23 | 3.17 | 4.39 |
| 30/06/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 26,750.26 | 63,061.89 | 55,612.67 |
| Price (B/Share) | 16.10 | 41.75 | 40.50 |
| P/E (X) | 5.47 | 12.38 | 11.24 |
| P/BV (X) | 0.78 | 1.98 | 2.06 |
