SCBX announced third-quarter profit of Baht 10.3 billoin

: SCBX announced third-quarter profit of Baht 10.3 billoin

SCBX announced third-quarter profit of Baht 10.3 billoin

SCBX announced third-quarter profit of Baht 10.3 billoin and nine-month profit of Baht 30.4 billion

Bangkok: SCB X Public Company Limited (SCBX) reported consolidated net profit of Baht 10.3 billion for the third quarter of 2022, up 16.9% yoy due to higher net interest income and lower provisions. Pre-provision operating profit went up 8.2% to Baht 22.8 billion. For the first nine months of 2022, net profit increased 9.7% yoy to Baht 30.4 billion.

For the third quarter of 2022, net interest income rose 17.8% yoy to Baht 27.7 billion from net interest margin expansion and an upward trend in interest rates while overall loans grew 3.0% from the same period last year.

Fee and other income stood at Baht 11.8 billion, down only slightly 0.6% yoy but up 6.5% qoq, a pattern consistent with a full reopening and a broad-based business recovery in Thailand. Nevertheless, investment and trading income fell 81.3% yoy from unfavorable market conditions.

Although operating expenses increased 7.1% yoy to Baht 16.9 billion, cost-to-income ratio remained under control at 42.6% in the third quarter.

Provisions in the third quarter were set at Baht 7.8 billion, down 22.8% yoy. Non-performing loan (NPL) coverage ratio remained high at 163.8%.

Asset quality has been steadily improving with NPL ratio falling further to 3.34% at the end of September 2022 from 3.58% at the end of June 2022 and capital adequacy ratio remained strong at 18.5%.

Arthid Nanthawithaya, Chief Executive Officer of SCBX, commented:

“SCBX continued to experience robust growth, reflecting the overall economic recovery and our prudent risk management, and support customers’ business recovery. At the same time, the newly established businesses under the “mothership” strategy have made significant progress. For instance, AutoX’s foray into the auto title loan market under “Chaiyo Money” brand has expanded customer base with more than Baht 3,000 million worth of loans in just a single quarter after its launch. InnovestX unveiled the first investment super app in Thailand that combines trading of traditional securities and digital securities into a unified platform.

Moreover, Robinhood platform has fully transformed into a super app by adding online travel agent service, mart service, and express service as well as having secured a ride-hailing service license. In addition, SCBX received a one-off dividend payment from the Bank this quarter to implement the restructuring plan in order to become a leading financial technology group in the region.”


ข่าวอื่นๆ ที่น่าสนใจของเรา

Our interested news more

Up to date with our interested news