TBANK Q3 2019 profit reaches record launches ThanachartDRIVE

Stocks and Financial Services Press Releases Friday October 18, 2019 17:25
กรุงเทพฯ--18 ต.ค.--Thanachart Bank
Thanachart Bank Public Company Limited (TBANK) reported a consolidated net profit of 4,054 million baht for the third quarter of 2019, improving 12.86% from the previous quarter.

Mr.Praphan Anupongongarch, Chief Executive Officer and President of Thanachart Bank Public Company Limited, said, "TBANK and its subsidiaries delivered record bottom line results in Q319, improving 12.86% from last quarter. For the nine months ending 30 September 2019, consolidated net profit was 11,296 million baht, improving 1.40% year-over-year, while pre-tax earnings grew 11.40%. Our continued performance improvement was mainly attributable to the expansion and diversification of revenue streams, combined with prudent risk and expense management. This focus on sustainability and quality of earnings has also meant that TBANK has become one of the industry leaders in generating cost:income ratio and operating leverage improvements for its shareholders over the last year".

The CEO summarized that "Over the past twenty years, Thanachart Bank has been an industry leader in the automobile hire purchase sector and is committed to providing best-in-class products and services to its hire purchase customers. To demonstrate and confirm this commitment, we have created the "ThanachartDRIVE" brand which represents our industry leading end-to-end capability in this market, and includes a comprehensive range of services such as ThanachartDRIVE Cash Your Car, ThanachartDRIVE New Car Hire Purchase, ThanachartDRIVE Used Car Hire Purchase, ThanachartDRIVE Privileges, ThanachartDRIVE Bluebook, and ThanachartDRIVE Academy. We recognize our customers made us the #1 bank in hire purchase, and ThanachartDRIVE marks the next chapter in our efforts to assist customers in driving progress in all dimensions,"

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