TBANK moving forward with confidence with strong third quarter performance.

Stocks and Financial Services Press Releases Tuesday October 18, 2016 09:00
Bangkok--17 Oct--Thanachart Bank

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 Omni channel 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."

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