TMBThanachart Bank Public Company Limited (SET: TTB) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss) Million Baht |
5,355.47 | 4,566.29 |
| Earning Per Share (Baht) |
0.0600 | 0.0500 |
| % Change | 17.28 | |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
10,689.26 | 8,860.80 |
| Earning Per Share (Baht) | 0.1100 | 0.0900 |
| % Change | 20.64 | |
TTB reported a net profit of THB5,355 million in 2Q24, increased by +17% YoY.
TTB recorded THB14,185 million of net interest income (NII) in 2Q24, increasing by 0.7% compared to previous year (YoY). The overall loan yield that has been improving partly from loan mix shifts towards high-yield spaces continued to underpin YoY performance.
Meanwhile, interest expenses increased by 28.2% YoY to THB6,859 million, which was attributable to higher funding costs following short-term pressure on deposit repricing impact amid the high interest rate environment. Total operating income decreased by -2% YoY to THB17,372 million in 2Q24.
ECL in 2Q24 amounted to THB5,281 million, increased 24.4% YoY. As of 30 June 2024, Stage 3 loans (NPLs) on a consolidated basis, were reported at THB40,105 million, relatively stable from THB39,759 million at the end of March 2024 and improving from THB41,006 million at the end of December 2023.
In addition, the coverage ratio remained robust at 152% at the end of June 2024.
At the end of June 2024, the Bank still has the remaining tax benefit of THB12.7 billion that can be subsequently recognized within 2028. The recognition will not be on a straight-line basis but will be subject to the estimation of future net profit stream.
