SCB X Public Company Limited (SET: SCB) has informed that at the Board of Directors’ meeting No. 3/2025, held on 19 February 2025, the board passed the resolution pertaining to the schedule and agenda for the 2025 Annual General Meeting of Shareholders.
The board will be presenting the agenda at the shareholder’s meeting to seek approval for a dividend payment from the 2024 operational results to the shareholders at the rate of THB 10.44 per share, amounting to approximately THB 35.153 billion. SCB has paid the interim dividend of THB 2.00 per share to the shareholders on 23 September 2024.
Therefore, the company will pay the remaining dividend of the later half of 2024 to the shareholders at the amount of THB 8.44 per share.
The excluding dividend (XD) date will be on 16 April 2025. Furthermore, such dividend payment will be made only to the shareholders entitled to receive dividend according to the Company’s Articles of Association, whose names appear in the shareholders register book at the date of 17 April 2025. The dividend payment shall be made on 2 May 2025.
SCB has reported a consolidated net profit of Baht 43,943 million for 2024, a 1.0% yoy increase.
For 2024, net interest income increased by 3.8% yoy to Baht 129,424 million, resulting from an expansion in the net interest margin (NIM) while overall loans dropped slightly by 1.0% yoy as a result of prudent new loan underwriting. Fee and other income declined by 5.6% yoy to Baht 40,657 million, mainly due to a decrease in bancassurance fees and lending-related fees. Meanwhile, operating expenses increased by 1.7% yoy to Baht 72,977 million. The cost-to-income ratio was at 42.3%.
The provisions decreased by 2.3% yoy, mainly due to consistently prudent and careful asset quality management. The non-performing loan (NPL) coverage ratio remained high at 158%. Additionally, the overall asset quality is well under control. The NPL ratio was 3.37% at the end of 2024, slightly lower than the 3.44% recorded at the end of last year. The capital adequacy ratio remained strong at 18.9%.
In 2024, the Group effectively controlled costs, achieving a cost-to-income ratio of 41.7%, excluding the impact from the Robinhood transaction. Expected credit losses (ECL) decreased year-on-year to Baht 42.6 billion, equivalent to 176 basis points of total loans. This decline was primarily driven by improved ECL at CardX due to de-risking in the P-loan segment, while the ECL at the Bank slightly decreased due to the absence of additional provisions recorded in 2023.
The Group’s loan growth declined slightly by 1.0% year-on-year, with reductions across all segments at SCB Bank and a decrease at CardX, as the focus shifted to quality customers. Meanwhile, loans at AutoX and MONIX continued to grow, albeit at a slower pace.
Total loans for Gen 2 increased by 5% yoy to Baht 172 billion, driven primarily by the expansion of AutoX and digital loans by MONIX, partially offset by a decline in CardX due to the selective approach in new lending.
