Tisco Financial Group Public Company Limited (SET: TISCO) has announced its consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q22 | 3Q21 |
| Net Profit (Loss) Million Baht |
1,771.32 | 1,560.33 |
| Earning Per Share (Baht) |
2.2100 | 1.9500 |
| % Change | 13.52 | |
| 9 Months | 2022 | 2021 |
| Net Profit (Loss) Million Baht |
5,415.25 | 4,990.01 |
| Earning Per Share (Baht) | 6.7600 | 6.2300 |
| % Change | 8.52 | |
TISCO reported a net profit of 1,771 million baht in 3Q22, increased 13.52% from a net profit of 1,560 million baht in 3Q21, along with the core business recovery.
Loans resumed growth by 4.8% from the previous quarter, mainly due to SMEs loans and auto title loans, all of which contributed to an improvement in net interest income of 4.2% (YoY). Moreover, fee income from bancassurance business strongly improved by 44.3% (YoY) following the new business expansion aligning to Thai economic recovery.
Consequently, banking fee income increased by 27.7% (YoY). On the other hand, fee income from capital market related businesses remained subdued from the same period of last year. Brokerage fee slowed down by 15.1% (YoY) caused by lower market trading volume, and asset management basic fee decreased by 0.9% (YoY) owing to a decrease in new fund issuances during an unfavorable capital market condition.
Meanwhile, expected credit loss (ECL) remained low at 0.2% of average loans, which has already factored in the portfolio expansion as well as in line with the asset quality that remained effectively-controlled, as seen from a decline in reported NPL ratio to 2.08% of total loans. Additionally, the company reduced the setup of ECL expenses from last year to reflect the current COVID-19 situation that has eased down. Loan loss coverage ratio remained strong at 248.0%.
