TMBThanachart Bank sees 11% net profit growth in Q3

Net interest margin (NIM) may rise 4 basis points after a central bank rate cut.

TMBThanachart Bank (TTB) posted a net profit of THB5.2b in Q3 2024, up 11% year-on-year (YoY).

Despite the higher profits, the Thailand-based bank reported a loan contraction of 3% quarter-on-quarter (QoQ), whilst its loan portfolio fell 5.7% year-to-date (YTD), according to data from UOB Kay Hian.

TTB attributed the contraction to corporate loan repayment, and reaffirmed its plan to focus on “selectively growing a quality portfolio.”

“It intends to reduce corporate loans and increase high-yield loans to incorporate the rate cut outlook,” said UOBKH analyst Thanawat Thangchadakorn.

Net interest margin (NIM) is 3.26% in Q3, which UOBKH said was due to well-managed funding.

Thangchadakorn expects NIM to rise by 4 basis points (bp) after an expected 25bp rate cut by the central bank. Net profit will also increase by 4.8% after the rate cut.

UOBKH has revised TTB’s earnings forecasts for 2024-2026 upward by 2%, 4.5%, and 4.7%, respectively.

Also Read

AusPayNet welcomes Aussie gov’t retirement of cheques by 2029

Japan Post Bank posts $1.44b net income for H1 FY2025/3

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit