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
| 9M25 | 9M24 | 2024 | 2023 |
|---|
| Revenues | 14,463.15 | 16,014.01 | 21,046.47 | 18,914.53 |
| Expenses | 7,411.40 | 8,607.47 | 11,234.61 | 10,045.03 |
| Net Profit (Loss) | 3,693.12 | 3,826.79 | 5,051.97 | 5,000.80 |
| Assets | 104,121.81 | 109,604.18 | 107,909.14 | 111,464.66 |
| Liabilities | 64,738.25 | 74,629.84 | 71,606.66 | 80,268.03 |
| Shareholders' Equity | 36,153.41 | 31,881.76 | 33,136.82 | 28,177.00 |
| Operating | 7,186.11 | 5,063.45 | 10,776.13 | -20,384.69 |
| Investing | -624.61 | -100.09 | -149.28 | -1,283.03 |
| Financing | -8,119.38 | -5,229.12 | -8,695.23 | 22,832.25 |
| EPS (Baht) | 2.22 | 2.53 | 3.34 | 3.64 |
| GP Margin (%) | ||||
| NP Margin (%) | 26.69 | 24.76 | 24.92 | 27.78 |
| D/E Ratio (x) | 1.64 | 2.13 | 1.97 | 2.57 |
| ROE (%) | 14.46 | 17.32 | 16.48 | 18.58 |
| ROA (%) | 8.85 | 8.87 | 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
The Company continues to prioritize prudent customer screening and close monitoring of collections to maintain portfolio quality at an appropriate level relative to risk exposure. At the same time, enhancements to data analytics tools and collection systems are being implemented to reduce future pressure from provisioning and minimize losses from asset disposals.
- Shift Toward Higher-Yield Products
The Company continues to rebalance its loan portfolio toward products with higher yields and more flexible risk–return profiles. This approach aims to sustain profitability and maintain resilience against potential fluctuations in funding or operating costs.
- Regulatory Compliance and Customer Protection
The Company closely monitors new regulatory developments from supervisory agencies, including the forthcoming Non-Bank Hire Purchase Supervision framework expected to take effect in 2026. Preparations are underway to ensure readiness in terms of systems, reporting, and internal risk management. These actions reinforce the Company’s commitment to transparency, compliance, and sustainable long-term business operations.
As of the end of Q3/2025, total loans outstanding stood at THB 93,831 million, a 0.7% increase QoQ, reflecting stable portfolio momentum, and a 5.3% decline YoY, mainly due to the ongoing review and tightening of hire purchase portfolio quality.
Total assets as of 30 September 2025 stood at THB 104,122 million, representing a 5.0% decrease YoY and a 1.1% decrease QoQ. The decline was mainly due to a more selective lending policy compared with the previous year and a reduction in foreclosed assets.
The Company recognizes the importance of Digital Transformation. leading the company to develop e-KYC and Mobile Lending Platform projects to enhance customer convenience, shorten loan approval times, and improve the efficiency of customer data management across the organization, with progress towards commercial launch by Q4/2025.
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 2025 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 30/09/25 | SAWAD | FIN | SET |
|---|---|---|---|
| P/E (X) | 10.18 | 16.79 | 16.67 |
| P/BV (X) | 1.41 | 1.13 | 1.21 |
| Dividend yield (%) | 0.12 | 2.49 | 3.67 |
| 30/09/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 49,845.21 | 63,061.89 | 55,612.67 |
| Price (B/Share) | 30.00 | 41.75 | 40.50 |
| P/E (X) | 10.18 | 12.38 | 11.24 |
| P/BV (X) | 1.41 | 1.98 | 2.06 |
