Thanachart Bank posts strong first quarter profits
Thanachart Bank Public Company Limited reported a net profit of Bt3.65 billion for the first quarter, with pre-tax earnings increasing 18.7 per cent compared to the same period last year.
CEO Praphan Anupongongarch said: “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 per cent 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 per cent. Our CASA ratio and capital ratios also remain strong,” Praphan said.