TMBThanachart Bank Public Company Limited (SET: TTB) has announced its 2Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q22 | 2Q22 |
| Net Profit (Loss) Million Baht |
3,438.33 | 2,534.11 |
| Earning Per Share (Baht) |
0.0356 | 0.0263 |
| % Change | 35.7 | |
| 6 Months | 2022 | 2021 |
| Net Profit (Loss) Million Baht |
6,633.23 | 5,316.06 |
| Earning Per Share (Baht) |
0.0687 | 0.0551 |
| % Change | 24.8 | |
In 2Q22, TTB reported THB3,438 million of net profit, which increased by 7.6% QoQ and 35.7% YoY and represented the ROE of 6.5%, showing that financial performance has maintained its positive momentum, supported by recovering revenues, manageable asset quality under the Bank’s prudent risk management, and cost discipline.
For Net interest income (NII) and Net interest margin (NIM), TTB recorded THB12,414 million of net interest income (NII) in 2Q22, with NIM at 2.83%, which contracted by 8 bps from 2.91% in 1Q22 and 15 bps from 2.98% in 2Q21.
Interest income increased by 1.3% QoQ but decreased by 1.1% YoY to THB15,885 million. The QoQ increase was a result of moderate loan growth as TTB prudently resumed growth in retail space while strategically growing low risk commercial loans to optimize excess liquidity.
Interest expenses increased by 6.2% QoQ and 5.8% YoY to THB3,471 million due primarily to higher deposit balance and interest on interbank as a part of liquidity management.
For Non-interest income (Non-NII), the Bank posted THB3,475 million of non-interest income in 2Q22, which rose by 3.3% QoQ and 5.0% YoY due mainly to higher net fee and service income.
TTB stated that the topline growth has regained its growth momentum from improvement in net fee incomes and stabilized trend of NII while OPEX rose from business expansion. Asset quality was under control, led by a decrease in ECL.
In this quarter, the Bank set aside an expected credit loss of THB4,382 million, equivalent to a credit cost of 127 bps, which dropped by 8.9% QoQ and 20.2% YoY. This was attributed to a lowered provisioning expenses compared to the elevated level of preemptive provision during the pandemic situation. Such ECL level reflected the Bank’s prudent risk management model, complied with the Bank of Thailand’s guidelines and our strict principle-based relief schemes.
As of 30 June 2022, TTB recorded total loans to customers and accrued interest receivables-net on consolidated basis of THB1,345 billion, an increase of 2.1% from March 2022 and 1.6% from December 2021.
