TBANKs net profit has increased for 9 consecutive quarters, Hire purchase loan growth turned positive, NPLs continued to decline

Stocks and Financial Services Press Releases Wednesday April 19, 2017 18:05
Bangkok--19 Apr--Thanachart Bank

TBANK's net profit has increased for 9 consecutive quarters, Hire purchase loan growth turned positive, NPLs continued to decline, and the policy of being the Main Bank for customers and providing a full range of digital banking services continues to be aggressively pursued.

Thanachart Bank Public Company Limited (TBANK) announced its operating results for the first quarter of 2017 delivering solid growth across all business lines. In support of the strategy of being the Main Bank for customers, the Bank offers a comprehensive line of products and services designed to meet the needs of each individual customer. Further, to address changing customer behavior in this digital era, and to provide new Digital Banking servicing experiences, TBank has launched two new branch models, "Thanachart Express" and "Thanachart Next", both offering enhanced self-service banking options.

Mr. Somjate Moosirilert, CEO of Thanachart Bank Public Company Limited, stated, "TBANK and its subsidiaries' net profit for the first quarter of 2017 totaled 3,272 million baht, an increase of 1.30% from the previous quarter, and marking the ninth consecutive quarterly net profit increase. While comparing to the same quarter last year, TBANK and its subsidiaries' net profit increased by 15.05%. This was partially due to a focus on asset quality and to new customer focused initiatives to increase fee and service income. Total assets increased slightly from the end of last year. This was due to an increase in hire purchase and retail loans and to an increase in net investments. NPLs of TBANK and its subsidiaries have been decreasing for the past 11 consecutive quarters, resulting in an NPL ratio of 2.21% and a coverage ratio of 156.80%. The Capital adequacy ratio of TBANK improved to 19.55%."

Mr. Somjate Moosirilert added that "Thanachart is very focused on being the Main Bank for all our customers. We are accomplishing this by fully understanding the needs of each customer, and by ensuring we are completely customer centric in both the design and delivery of our products and services. We are committed to providing the best possible customer experience, regardless of which our service channel is used. As an example, in March 2017, TBANK jointly signed an agreement with 4 other banks allowing for the installation of Electronic

Data Capture (EDC) machines under the government's National e-Payment Master Plan. The Consortium, called Thai Alliance Payment System (TAPS), will promote the expansion of card acceptance, thereby providing increased payment options and more convenience for our customers. As we all know, consumers' ease of making payments is one of the cornerstones of this digital age."

Mr. Peter Bessey, Deputy CEO of Thanachart Bank Public Company Limited, added, "Consumers tend to want more access to self-service banking options. This trend is what has motivated TBANK to develop 2 new branch models to better meet the needs of our customers. Our first "Thanachart Express" Branch was opened at Money Park on the 4th Floor of MBK Center. This branch is designed for customers wanting the simplicity and speed of self-service transaction banking through the availability of a number of multi-function service stations. The staff in our "Express" branch model are well trained, not only in the provision of high quality investment and other financial solutions, but also in providing assistance to customers wanting advice on how to conduct the majority of their banking transactions safely and securely in an increasingly digital environment. The second model called "Thanachart Next", the first of which we opened at Siam Paragon, acts as a bridge between the traditional branch model, and the more digital "Express" model. Our "Next" model offers both the complete services of a traditional branch (including teller and counter service), along with self-service banking options and staff who are trained to deliver financial and digital banking advice and solutions. Having a suite of branch models designed to meet the differing needs of various customer segments will contribute significantly to TBank's goal of being the Main Bank for all of our customers."


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