Thanachart Capital PCL : TBANK moving forward with confidence with strong third quarter performance.
October 18, 2016 at 01:04 am EDT
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Thanachart Bank Public Company Limited (TBANK) announced strong results in its third quarter 2016. Pre-provision Operating Profit (PPOP) shows good growth reflecting improved productivity and strong capability ensuring on-going success.
Mr. Somjate Moosirilert, CEO and President of Thanachart Bank Public Company Limited, stated 'TBANK's net profit continued to grow for the seventh consecutive quarter and totaled 3,202 million baht in the third quarter 2016, an increase of 44 million baht or 1.39 percent from the previous quarter. PPOP totaled 5,084 million baht, an increase of 255 million baht or 5.28 percent from the previous quarter,due to good growth in the total income base. Net interest income increased 2.83 percent from better interest spread while non-interest income increased 9.85 percent due to improvement in fee and service income.'
'Total assets have grown slightly from the previous quarter while loans declined marginally. Asset quality continued to strengthen with the NPL ratio on a consolidated level declining constantly from 2.84 percent at the end of 2015 to 2.44 percent and NPL ratio on bank only declining from 2.20 percent at the end of 2015 to 1.86 percent. Coverage ratio improved to 136.31 percent at the consolidated level and to 147.91% for the bank only. Furthermore, the BIS ratio increased to 19.70 percent while the LCR ratio was maintained above 100 percent'.
Mr. Somjate added 'TBANK operating results continue to improve consistently as a result of development in system infrastructure, improved processes and enhanced human resource capability. The Bank as a whole is able to improve service and product quality in order to respond better to the needs of our customers through an Omnichannel approach which was most recently reinforced with our mobile banking application. The customer base has been growing along with improved customer experience levels. Our focused efforts and on-going improvements are designed to ensure the continuous improvement of our business operations and to enhance our ability to move forward in a stable and sustainable manner.'
Thanachart Bank Public Company Limited (TBANK) announced strong results in its third quarter 2016. Pre-provision Operating Profit (PPOP) shows good growth reflecting improved productivity and strong capability ensuring on-going success.
Mr. Somjate Moosirilert, CEO and President of Thanachart Bank Public Company Limited, stated'TBANK's net profit continued to grow for the seventh consecutive quarter and totaled 3,202 million baht in the third quarter 2016, an increase of 44 million baht or 1.39 percent from the previous quarter. PPOP totaled 5,084 million baht, an increase of 255 million baht or 5.28 percent from the previous quarter, due to good growth in the total income base. Net interest income increased 2.83 percent from better interest spread while non-interest income increased 9.85 percent due to improvement in fee and service income.''Total assets have grown slightly from the previous quarter while loans declined marginally. Asset quality continued to strengthen with the NPL ratio on a consolidated level declining constantly from 2.84 percent at the end of 2015 to 2.44 percent and NPL ratio on bank only declining from 2.20 percent at the end of 2015 to 1.86 percent. Coverage ratio improved to 136.31 percent at the consolidated level and to 147.91% for the bank only. Furthermore, the BIS ratio increased to 19.70 percent while the LCR ratio was maintained above 100 percent'.Mr. Somjate added 'TBANK operating results continue to improve consistently as a result of development in system infrastructure, improved processes and enhanced human resource capability. The Bank as a whole is able to improve service and product quality in order to respond better to the needs of our customers through an Omnichannel approach which was most recently reinforced with our mobile banking application. The customer base has been growing along with improved customer experience levels. Our focused efforts and on-going improvements are designed to ensure the continuous improvement of our business operations and to enhance our ability to move forward in a stable and sustainable manner.'
Thanachart Capital pcl published this content on 18 October 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 October 2016 05:03:08 UTC.
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Thanachart Capital Public Company Limited is a Thailand-based investment holding company. The Company operates through its subsidiaries, which are engaged in the non-performing asset management business, securities business, leasing and hire purchase business, non-life insurance business, life insurance business, and others. The Companyâs subsidiaries include Ratchthani Leasing Public Company Limited, Thanachart Insurance Public Company Limited (TNI), Thanachart Plus Company Limited and other. Ratchthani Leasing Public Company Limited provides auto hire purchase and financial lease services with a focus on the auto market for new and used car markets. TNI provides non-life insurance services, including fire insurance, automobile insurance, marine and transportation insurance, and miscellaneous insurance. Thanachart Plus Company Limited is an asset-based financing provider, which provides credit facilities to its customers in order to truly meet their needs.