TISCO Reports a 25% Increase in 2Q Earnings as the Economy Recovers from Last Year
TISCO reported a net profit of 1,666 million baht in 2Q21, increased 25% YoY due to a recovering core business from a subdued economy last year.
TISCO reported a net profit of 1,666 million baht in 2Q21, increased 25% YoY due to a recovering core business from a subdued economy last year.
15 ก.ค. 2564

Tisco Financial Group Public Company Limited (TISCO) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
 
TISCO reported a net profit of 1,666 million baht, increased 25.35% from the same period of last year, mainly due to its core businesses that recovered from a subdued economy in the previous year.
 
Net interest income increased by 0.7% YoY following effective cost management. Fee income from core businesses recovered by 13.3% YoY from all areas. Banking fees improved, especially bancassurance business that recovered from the second quarter of last year where an intense outbreak control measures were in place.
Businesses related to the capital market also improved from higher market trading volume and the growth in assets under management of asset management businesses. Furthermore, the company also recorded gain from an increase in investment value during the quarter.
Expected credit loss (ECL) decreased from the second quarter of 2020 after the setup of upfront provisions beforehand during 2020.
 
At the end of the second quarter of 2021, the company reported NPLs amounting 5,867.04 million baht, increased by 335.18 million baht (6.1% QoQ), and accounted for increased NPL ratio from 2.51% to 2.74% (QoQ).
The increased NPLs were mainly caused by some restructured clients of hire purchase and Auto Cash loans can no longer service their debts and relapsed into NPLs. However, the increase in NPLs remained within the company’s target range