Thanachart Bank posts strong first quarter profit growth

Stocks and Financial Services Press Releases Friday April 19, 2019 09:26
Bangkok--19 Apr--Thanachart Bank
Thanachart Bank Public Company Limited reported net profit of 3,650 million baht for the three months ending 31 March 2019, with pre-tax earnings increasing 18.7% compared to the same period last year.

Mr. Praphan Anupongongarch, CEO and President of Thanachart Bank Public Company Limited, commented "our Q1 2019's pre-tax profit growth was amongst the highest in the sector, showing that our ability to execute on our customer focused strategy continues to be a very effective strategy for our bank. We achieved all our key performance metrics for the quarter, including continued growth of our active customers while maintaining our position as market leader in the auto hire purchase business which grew 2.4% from the same quarter last year. We exercised excellent operating discipline with top quartile improvements across our operating leverage, cost to income ratio, and NPL ratio, which is now amongst the lowest in the industry at 2.19%. Our CASA ratio and capital ratios also remain strong."

The CEO and President went on to say "this quarter we were honored to receive the Automobile Lending Product of the Year Award from the Asian Banker, recognizing us for international excellence in retail products. This represented the third consecutive year that we received the award and our recently launched Auto Loan Digital Experience program demonstrates our continuous investment and improvement in better serving our customers in this area."

Latest Press Release

GoComet raises SGD3 million in Series A Round Led by Leo Capital

GoComet today announced that it has raised SGD3 million in a Series A round led by Leo Capital, alongside SGInnovate and August One, with participation from existing investor,India Quotient. Headquartered in Singapore, GoComet also operates in India,...

Fitch Rates PTT Global Chemical#s Debentures #AA+(tha)#

Fitch Ratings (Thailand) has assigned a National Long-Term Rating of 'AA+(tha)' to PTT Global Chemical Public Company Limited's (PTTGC, AA+(tha)/Stable) new senior unsecured debentures. The debentures of up to THB10 billion will be issued in three...

LGT reports strong net asset inflows and further business expansion in first half of 2019

LGT, the international private banking and asset management group owned by the Princely House of Liechtenstein, achieved a group profit of CHF 155.6 million and further expanded its client business in the first half of 2019. The results reflect solid...

Gavin Bambury named OANDA(R) CEO

A global leader in online multi-asset trading services and currency data and analytics, OANDA Global Corporation is pleased to announce the appointment of industry leader Gavin Bambury as Chief Executive Officer, effective Monday 26 August 2019. Based in...

Thailand Focus 2019 showcases new governments policies to reinforce confidence

The Stock Exchange of Thailand (SET) will hold the annual flagship inbound roadshow "Thailand Focus 2019: Embracing Opportunities - The Next Chapter", during August 28 – 30, 2019 in Bangkok, marking the first conference for the new government to...

Related Topics