FRIDAY, March 29, 2024
nationthailand

TBank’s pre-tax earnings rise 10.6% for first half

TBank’s pre-tax earnings rise 10.6% for first half

Thanachart Bank Public Co Ltd (TBank) reported a net profit of Bt3.592 billion for the second quarter of 2019 and Bt7.242 billion for the first half of 2019. First-half pre-tax earnings increased 10.58 per cent compared to the same period last year.

The bank cited as helpful the TBank’s recent introduction of a new marketing concept, “Your Everyday Progress”, which is aimed at bringing customers closer to their goals.
Praphan Anupongongarch, CEO and president of Thanachart Bank, said the net profit of Bt3.592 billion for the second quarter of represented a decrease of 1.59 per cent compared to the previous quarter. “This was mainly due to one-time expenses for retirement pension and severance payments according to the amendment of the Labour Protection Act, which came into effect on May 5,” Praphan said.

TBank’s pre-tax earnings rise 10.6% for first half


“Net profit of the bank and its subsidiaries for the first half of 2019 was Bt7.242 billion, representing a decrease of 4.71 per cent from the same period last year. This was mainly attributable to the increase in income tax expenses compared with the same period last year, as the bank’s tax shield had been fully used since May 2018. 
“On a pre-tax basis, the bank’s first half earnings grew over Bt918 million, or 10.58 per cent, compared to the same period last year. Overall, the bank continued to register robust growth with continuous lending expansion, particularly in relation to hire-purchase loans which grew by 4.45 per cent compared with the end of 2018, or by 12.38 per cent, from the same period a year earlier. Importantly, the bank maintained its asset quality by keeping the NPL ratio at a low level while its capital adequacy ratio (CAR) remained relatively high.”
Praphan said Thanachart Bank was meeting customer needs through its customer-centric policy.
“Today, Thanachart Bank not only has taken another step closer to customers but is also determined to provide customers with progress towards the accomplishment of all their lifetime goals,” Praphan said. 
“Hence, the bank has come up with a concept of Your Everyday Progress. In this connection, the bank stands ready to provide customers with the progress every day through its various progressive products and services. We believe that small simple steps taken each day will always lead to great progress. 
“The important step taken by Thanachart Bank today to the best of our abilities through the products and services as well as employees will help customers progress each day. The key objective is to enable all of them to accomplish their established goals. The day on which we see our customers realize their goals is the day on which Thanachart Bank is closer to its own goals.”

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