"Although the improving situation of the COVID-19 pandemic led to the gradual recovery of the Thai economy, the 2021 operating performances of TCAP's key subsidiaries including Ratchthani Leasing (THANI), Thanachart Insurance (TNI), Thanachart Securities (TNS) and MBK Life Assurance (MBK Life) respectively remained strong. In 2022, these companies have set targets to grow further. In this connection, THANI has set a growth target of 26.4 billion baht for new drawdowns with the outstanding balance of lending at the end of 2022 amounting to about 50 billion baht. With regard to TNI, the company has set a growth target of 10 billion baht for total premiums received, compared to total premium received of 8.334 billion baht in the prior year. Emphasis will be placed on literally limitless business operations through online distribution channels and digital platforms, to truly respond to customer needs in the digital era. As regards TNS, despite intense competition in the securities brokerage industry, overall the company continues to maintain its competitiveness which is supported by its success not only in offering the portfolio advisory service called ZEAL but also in issuing derivative warrants. It is expected that they will keep generating good returns for shareholders. As for MBK Life, the company has laid down a business operations guideline which places emphasis on improving work processes and service delivery, ensuring that they are current and up to date. Importantly, the company will continue developing life assurance products and services with focus on loan protection insurance and group life assurance."
"Although the COVID-19 pandemic which remains a key variable in the economic sector as a whole has affected all businesses for quite some time, the situation could not be considered as significantly improved. Nevertheless, the management is confident that the Company's financial position is immensely strong and is capable of overcoming the crisis in a steady and sustainable manner."
Source: TM COMMUNICATION AND BRAND MANAGEMENT