LH Financial Group Public Company Limited (SET: LHFG) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
579.81 | 542.67 |
| Earning Per Share (Baht) |
0.0270 | 0.0260 |
| % Change | 6.84 | |
| 9 Months | 9M24 | 9M23 |
| Net Profit (Loss) Million Baht |
1,470.42 | 1,744.58 |
| Earning Per Share (Baht) | 0.07 | 0.08 |
| % Change | -15.71 | |
LHFG reported a net profit of Baht 579.8 million in the third quarter of 2024, increased by 6.8 % when compared to the third quarter of 2023 with the net profit of Baht 542.7 million. The increase was mainly due to the increase in net fees and service income and other operating incomes.
In the third quarter of 2024, net interest income amounted to Baht 1,740.7 million, decreased by 1.3%when compared to the third quarter of 2023. The decrease was mainly due to an increase in interest expenses by 27.4%.
The company recorded Baht 42.3 million in loss from financial instruments for the third quarter, an increase by 156% from Baht 16.5 million last year. Meanwhile, dividend income dropped 57% to Baht 119 million for the quarter.
In the third quarter of 2024, the expected credit losses amounted to Baht 267.6 million, decreased by 21.0% when compared to the second quarter of 2024 and decreased by 50.7% when compared to the third quarter of 2023. As a result, in the third quarter of 2024, the coverage ratio stood at 241.43%.
NPL ratio was 2.29% of total loans (Interbank and money market items included) when compared to the end of the year 2023 which was 2.36%.
