Tisco Financial posts 15% rise in net profit
Tisco Financial Group Plc announced a net profit Bt7.01 billion in the end of year 2018 or up 15 per cent from the year 2017, which recorded net profit Bt6.09 billion, according to the company’s report to the Stock Exchange of Thailand yesterday.
The rise was a result was an increase in income from core businesses and the record of extraordinary income from investment and business sale. Net interest income increased by 9.1 per cent (YoY) from the ability to maintain overall loan yield and the effective cost management, together with the transfer of retail banking business from Standard Chartered Bank (Thai) Plc.
In addition, the company recorded gain on selling investment, share of profit from subsidiaries and gain from sale of credit card business. However, non-interest income from core business slightly declined by 0.7 per cent (YoY), from the decline in investment banking fee income. Whilst, fee income from other core businesses reported favourable growth. Provision expense declined by 12.3 per cent (YoY) following the effective credit control.
