Thanachart boasts record quarterly growth
Thanachart Bank has announced first quarter 2018 net profits of Bt3.77 billion, representing 2.9 per cent growth from the previous quarter and 15.5 per cent growth compared to the same quarter last year. This growth was driven by deepening existing relationships with customers and attracting new customers to the bank through product and service innovation, it said.
Somjate Moosirilert, CEO of Thanachart Bank Public Company Limited, said: “In the first three months of 2018, our customer-focused strategy continued to produce strong results with earnings growing for a 13th straight quarter. We continue to create and deliver value to our customers while driving top quartile efficiency gains. Our market leading position in hire purchase loans grew almost 9 per cent and we registered good gains in our retail franchise, particularly in the SME [small- and medium-sized enterprises] segment and we remain well capitalised with a capital adequacy ratio of 18.8 per cent.”
Somjate highlighted some key initiatives over the last quarter, including introduction of Thanachart Ultra Savings Account which offers one of the highest interest rates in the industry at up to 1.5 per cent per annum, as well as the launch of the Thanachart Justice League Chibi card.
The CEO was also enthusiastic about the bank’s digital progress, saying: “Today, all of our customers can apply for loans themselves through our Thanachart Connect mobile application. We prioritised customer feedback in building this capability and we are excited by the customer experience it provides.”