The share price of Tisco Financial Group Public Company Limited (SET: TISCO) fell THB8.00 or 8.04% per share to THB91.50 per share on April 29, 2022, on the first ex-dividend date.
The company will pay a dividend of THB7.15 per share on May 19, 2022.
TISCO reported a net profit of 1,795 million baht in 1Q22, increased slightly by 1.81% from a net profit of 1,763 million baht in 1Q21, mainly contributed by lower expected credit loss (ECL).
For the performance compared to the first quarter of last year, total operating income decreased by 13.4% (YoY). Net interest income dropped by 1.6% (YoY) following loan contraction, while non-interest income declined by 31.8% (YoY) mainly due to businesses related to the capital market. Asset management basic fee income decreased by 36.6% (YoY) led by an absence of new sizable mutual funds issued during the first quarter of last year. Brokerage fee decreased by 9.2% (YoY) following lower market trading volume.
In addition, investment value declined along with the fluctuated capital market, resulting in a loss on financial instruments measured at fair value through profit or loss (FVTPL) amounting 32.18 million baht, compared with a gain of 312.62 million recorded in the first quarter of 2021. On the contrary, bancassurance business has improved partly owing to an increase in new business volume following recovered economic activities after the pandemic unraveled.
Expected credit loss (ECL) declined by 89.9% (YoY) to 0.2% of average loans in line with improved asset quality. NPLs decreased significantly by 570.93 million baht or accounted for NPL ratio declined from 2.44% to 2.15% of total loans following effective asset quality control.
