TMBThanachart Bank Public Company Limited (SET: TTB) announced its 1Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 1Q23 | 1Q22 |
| Net Profit (Loss) Million Baht |
4,294.52 | 3,194.90 |
| Earning Per Share (Baht) |
0.0444 | 0.0331 |
| % Change | 34.42 | |
TTB reported a net profit of THB 4,295 million in 1Q23, increased 34.4% from the same period of last year, driven by top line growth, cost efficiency, and controllable asset quality.
TTB recorded THB13,502 million of net interest income (NII) in 1Q23, increased by 8.8% YoY from THB12,409 million. Interest income rose by 17.8% YoY from THB15,677 million. The rise was primarily due to better yield on earning assets following a rising rate environment amidst conservative loan growth.
As of 31 March 2023, NPL ratio on consolidated basis was recorded at 2.69%, well-contained compared with 2.73% at the end of December 2022 and March 2022. Meanwhile, NPL ratio on bank-only basis stood at 2.39% when compared with 2.44% as of 31 December 2022 and 2.68% at the end of March 2022. Overall, NPL and asset quality remained manageable and in-line with target.
As of 31 March 2023, the Bank and its subsidiaries reported the allowance for expected credit loss at THB58,730 million, which increased by 2.3% YTD. The level of allowance still reflected the Bank’s current loan portfolio nature, which 54% are retail secured loan, and more manageable asset quality after the debt relief ended. The Bank continues to manage and de-risk weak loan to enhance quality of loan portfolio, as a result, SME represented only 8% of total portfolio as of March 2023. Therefore, coverage ratio increased to 140% in 1Q23 improved from 138% in 4Q22.
