TMBThanachart Bank posts higher Q1 profit despite shrinking loan book

The bank saw a decline in auto loans, credit card loan repayments, and large corporate loans.

Thailand’s TMBThanachart Bank (TTB) logged a net profit of $161.74m (THB5.2b) in Q1 2026, 1.4% year-on-year (YoY) higher, making up 24.7% of full year estimates by CGS International (CGSI).

Its loans contracted 2.7% YoY during the quarter, pressured by falling auto loans, a decline in credit card loan repayments, and a decrease in large corporate loans in working capital and trade finance loans.

Loans to small and medium enterprises (SMEs) also contracted 2.6% quarter-on-quarter (QoQ) for Q1.

Non-interest income grew 37.4% YoY and 10.2% QoQ, whilst net fee income was higher by 22% YoY but declined 4.5% QoQ.

Fee income growth was driven by the consolidation of its brokerage subsidiary TTB Wealth Securities, and higher fee income from bancassurance, mutual funds, and credit cards.

For 2026 to 2028, TTB is projected to have a dividend yield of between 5.5% to 6.3% per annum. However, earnings per share (EPS) is likely to contract 11.6% YoY in 2027, as the bank will likely fully utilise its tax shield by the fiscal year, according to CGSI.

(US$1 = THB32.16)