Thanachart Bank delivers outstanding performance with profit hitting record high

Stocks and Financial Services Press Releases Monday January 22, 2018 09:11
Bangkok--22 Jan--Thanachart Bank

Thanachart Bank announces its full year 2017 financial results, growing loans by 3% and generating record high profit of 13,810 million baht, up11% from 2016. The improvement in year-over-year performance is mainly attributable to the bank's continued focus on becoming a main bank of choice to customers, and improved productivity.

Somjate Moosirilert, Chief Executive Officer and President of Thanachart Bank Public Company Limited, said, "In 2017, our Bank's loans grew by 3% driven by the hire purchase business which increased 7% from 2016. Net profit of Thanachart Bank and its subsidiaries in 2017 was 13,810 million baht, an increase of 11% from last year, and representing our third consecutive year and twelfth straight quarterly improvement in profit. Asset quality remained strong with an NPL ratio of 2.3%, similar to last year despite our growth. The Bank remains very well capitalized, with Tier I improving to 14.8% from 13.3% last year and our capital adequacy ratio reaching 18.9%."

"Our success was achieved by executing a customer centric strategy. In particular, the Bank placed strong emphasis on improving customer service through every channel and developing innovative products & services to better serve our customers digital needs. Our 2018 strategy will focus on growing our customer base and further expanding our relationships with them. This customer focused strategy, combined with our productivity gains, has consistently delivered improved performance and increased our competitiveness in the banking industry," said Somjate.


Latest Press Release

In Ukraine, Labor, Taxation, and Social Policies Must Be Upgraded to Address Rising Inequality, Says World Bank

WASHINGTON, September 25, 2018 – Social inequality across the regions of Ukraine is low, but the social gap in urban and rural areas remains wide, according to a new World Bank report. Toward a New Social Contract calls for a fundamental rethinking...

Focus on China-CEE Cooperation During Prague Leg of CEIBS Europe Forum

The historic Prague Castle was the venue for a frank and fruitful discussion on how China and the countries of Central and Eastern Europe can work together to drive mutual economic growth. Attended by about 200 participants, the event saw keynote...

African Leaders, the World Bank Group, and partners catalyze action to ensure that everyone in Africa has a digital identity by 2030

NEW YORK, September 25th, 2018 - African leaders, the World Bank Group, the United Nations, and other development partners met today on the sidelines of the UN General Assembly for the African Leaders Roundtable on Identification for Development to...

Photo Release: KBank joins hands with partners to create K PARK, a new form of lifestyle space for suburban communities

KBank unveils the first K PARK on Hathairat 33 Road by teaming up with three business giants, namely, PTT (PTT gas station and Cafe Amazon), SCG Express and Amarin Printing and Publishing to open a new lifestyle space which offers delightful experiences...

CIMB Group Chairman to Step Down by 31 December 2018

CIMB Group ("CIMB" or "the Group") today announced that its Chairman, Dato' Sri Nazir Razak, will step down from his position as Group Chairman, and all other positions within the CIMB group of companies by 31 December 2018. The CIMB Board of Directors...

Related Topics