A dividend payment of 5.50 baht per share was approved, in a total amount of 18,696 million baht, at the bank's 193rd shareholder meeting, which was convened on 5 April 2016 at 14.00 hours at Mahisorn Hall in the Siam Commercial Bank Head Office complex. This is the result of SCB's 2015 operating performance showing a net profit of 47,182 million baht, the highest net profit among financial institutions in 2015. SCB has a policy of paying dividends at the rate of 30-50% of net profit each year, taking into consideration long term shareholder returns. The dividend payment of 5.50 baht per share is equivalent to 39.6% of SCB's 2015 net profit, which is higher than that paid during 2012-2014.
SCB has already paid interim dividends to preferred and common shareholders at a rate of 1.50 baht per share since 18 September 2015. Therefore, SCB's preferred and common shareholders will receive a remaining dividend payment of 4 baht per share, which is scheduled to be paid on 3 May 2016.
With regard to 2016 strategies, the Bank will focus on three issues:
1. Supporting Thailand's economy through government mega projects, SME assistance projects, and the national E payment scheme.
2. Maintaining core business growth by monitoring and providing advice to clients. At the same time, credit growth will be closely monitored, with an emphasis on quality. Fee based income will also be increased. Risk management will be a key factor in coping with any uncertainty.
3. The Bank will invest in technology and operating systems. Overall, credit growth and fee based income targets are set to increase around 4%-6%. The Bank will keep its non-performing loans below 3% of its total portfolio, compared to last year's rate of 2.8%.
From 2016-2020 the Bank will expand its customer base and create new businesses in the SME, Wealth, Middle Corporate, and Payment segments. The Bank will enhance its competitiveness with new opportunities in digital transformation through various schemes, such as venture capital and a digital financial lab.
With regard to the Bank's Board of Directors, there are six directors completing their terms in 2016. There was a resolution to reappoint four directors to resume their directorships: Mr. Anand Panyarachun, Mr. Prasan Chuaphanich, Mr. Chakkrit Parapuntakul, and Ms. Kannikar Chalitaporn. The shareholders' meeting also resolved to appoint two new board members, namely Mr. Taweesak Koranantakul and Mr. Kan Trakulhoon, to serve as Independent Directors replacing Professor Vicharn Panich and Mr. Chumpol Na Lamlieng, whose terms have expired. This will be effective on April 5, 2016.